75,162 Shares in CubeSmart $CUBE Acquired by Readystate Asset Management LP

Key Points

• Readystate Asset Management acquired 75,162 CubeSmart shares worth approximately $2.99 million during the second quarter. Institutional investors collectively own 97.61% of the self-storage REIT.
• CubeSmart reported quarterly EPS of $0.39, below the $0.64 consensus estimate, while revenue of $286.49 million exceeded expectations and increased 1.5% year over year.
• The company declared a quarterly dividend of $0.53 per share, equivalent to a 5.4% annualized yield. Analysts maintain a consensus “Hold” rating with a $43.45 target price, compared with a recent share price of $39.51.

Readystate Asset Management LP acquired a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,162 shares of the real estate investment trust's stock, valued at approximately $2,989,000.

Other large investors also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC acquired a new stake in shares of CubeSmart during the 3rd quarter worth approximately $28,000. Essential Partners LLC lifted its holdings in CubeSmart by 594.7% in the first quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 779 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 568 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in CubeSmart in the first quarter worth approximately $42,000. Finally, Los Angeles Capital Management LLC purchased a new position in CubeSmart in the fourth quarter worth approximately $43,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

NYSE CUBE opened at $39.51 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market cap of $8.90 billion, a P/E ratio of 27.25, a P/E/G ratio of 6.50 and a beta of 1.05. The stock has a 50-day moving average of $40.96 and a two-hundred day moving average of $39.98. CubeSmart has a 1-year low of $35.09 and a 1-year high of $43.26.

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

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Thursday, October 1st. CubeSmart's dividend payout ratio (DPR) is currently 146.21%.

Analyst Ratings Changes

A number of research firms have commented on CUBE. Royal Bank Of Canada restated an "outperform" rating and issued a $47.00 target price on shares of CubeSmart in a research report on Tuesday, August 4th. Weiss Ratings reissued a "hold (c)" rating on shares of CubeSmart in a research report on Wednesday, July 15th. Truist Financial boosted their price objective on shares of CubeSmart from $41.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. UBS Group upped their target price on shares of CubeSmart from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, July 10th. Finally, Barclays raised shares of CubeSmart from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $45.00 to $46.00 in a research note on Friday, July 10th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, CubeSmart has an average rating of "Hold" and a consensus target price of $43.45.

CubeSmart Company Profile

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.

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