Pacific Heights Asset Management LLC Buys Shares of 500,000 CubeSmart $CUBE

Pacific Heights Asset Management LLC purchased a new position in shares of CubeSmart (NYSE:CUBE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 500,000 shares of the real estate investment trust’s stock, valued at approximately $19,885,000.

A number of other large investors also recently modified their holdings of CUBE. BlackRock Inc. bought a new stake in shares of CubeSmart during the 2nd quarter worth about $1,349,164,000. Norges Bank acquired a new stake in CubeSmart in the fourth quarter worth approximately $395,968,000. Canada Pension Plan Investment Board acquired a new stake in CubeSmart in the second quarter worth approximately $288,512,000. Geode Capital Management LLC boosted its stake in CubeSmart by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,714,128 shares of the real estate investment trust’s stock valued at $169,975,000 after purchasing an additional 52,207 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in CubeSmart by 36.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after purchasing an additional 1,143,464 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CUBE shares. Mizuho lifted their price target on CubeSmart from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of CubeSmart in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.55.

CubeSmart Price Performance

CUBE opened at $40.00 on Friday. The firm has a market capitalization of $9.01 billion, a P/E ratio of 27.58, a PEG ratio of 6.66 and a beta of 1.07. The stock has a fifty day moving average of $41.08 and a 200-day moving average of $39.94. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34. CubeSmart has a 12-month low of $35.09 and a 12-month high of $43.26.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The business had revenue of $286.49 million for the quarter, compared to analysts’ expectations of $281.12 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. CubeSmart has set its Q3 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.600 EPS. Equities analysts forecast that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Thursday, October 1st. CubeSmart’s payout ratio is 146.21%.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.