Adage Capital Partners GP L.L.C. Raises Stock Position in CubeSmart $CUBE

Adage Capital Partners GP L.L.C. grew its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,000 shares of the real estate investment trust's stock after buying an additional 25,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.05% of CubeSmart worth $5,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of CUBE. Mercer Global Advisors Inc. ADV raised its stake in shares of CubeSmart by 173.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,935 shares of the real estate investment trust's stock worth $511,000 after buying an additional 7,573 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of CubeSmart by 4.4% during the 4th quarter. EP Wealth Advisors LLC now owns 9,127 shares of the real estate investment trust's stock worth $391,000 after purchasing an additional 387 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in CubeSmart during the 4th quarter valued at about $379,000. FORA Capital LLC purchased a new position in CubeSmart during the 4th quarter valued at about $284,000. Finally, Graham Capital Management L.P. acquired a new stake in CubeSmart in the 4th quarter valued at about $2,358,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CUBE has been the topic of a number of analyst reports. BNP Paribas upgraded CubeSmart to a "hold" rating in a research note on Tuesday, June 24th. Evercore ISI lowered their price target on CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a research report on Monday, August 4th. Wolfe Research started coverage on CubeSmart in a research note on Monday, May 19th. They issued an "outperform" rating and a $48.00 price objective on the stock. BNP Paribas Exane initiated coverage on CubeSmart in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price objective on the stock. Finally, BMO Capital Markets raised CubeSmart from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $48.00 to $49.00 in a report on Friday, June 20th. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $46.69.

CubeSmart Stock Down 1.3%

Shares of NYSE:CUBE traded down $0.53 during midday trading on Friday, hitting $41.10. 231,193 shares of the company's stock were exchanged, compared to its average volume of 1,770,714. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. The company has a market cap of $9.37 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 9.06 and a beta of 0.94. The stock has a 50 day moving average price of $40.73 and a 200-day moving average price of $41.27. 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 (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.1%. CubeSmart's payout ratio is 126.83%.

CubeSmart Company Profile

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.