Louisiana State Employees Retirement System Buys 700 Shares of CubeSmart $CUBE

Louisiana State Employees Retirement System grew its stake in shares of CubeSmart (NYSE:CUBE) by 1.1% in the second quarter, HoldingsChannel.com reports. The fund owned 64,100 shares of the real estate investment trust’s stock after acquiring an additional 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in CubeSmart were worth $2,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CUBE. T. Rowe Price Investment Management Inc. lifted its position in shares of CubeSmart by 28.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust’s stock worth $370,049,000 after buying an additional 1,937,055 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of CubeSmart by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust’s stock worth $291,922,000 after buying an additional 543,158 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CubeSmart by 29.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust’s stock worth $237,519,000 after buying an additional 1,261,746 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of CubeSmart by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust’s stock worth $212,886,000 after buying an additional 72,513 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of CubeSmart by 4.3% during the 1st quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock worth $167,463,000 after buying an additional 162,068 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Down 0.4%

Shares of CubeSmart stock opened at $39.77 on Friday. The stock’s 50-day moving average is $40.25 and its 200 day moving average is $41.04. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 8.89 and a beta of 0.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. CubeSmart has a one year low of $34.24 and a one year high of $50.86.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $282.30 million for the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. Equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Wednesday, October 1st. CubeSmart’s dividend payout ratio (DPR) is currently 126.83%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. BMO Capital Markets upgraded CubeSmart from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $49.00 in a research report on Friday, June 20th. Evercore ISI upped their price objective on CubeSmart from $48.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday. Finally, Royal Bank Of Canada decreased their price target on CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus target price of $46.06.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.