Allspring Global Investments Holdings LLC Boosts Stock Position in CubeSmart $CUBE

Key Points

• Allspring Global Investments Holdings LLC has increased its stake in CubeSmart (NYSE:CUBE) by 0.5%, bringing its total ownership to approximately 5.1 million shares, valued at $216.9 million.
• CubeSmart reported an EPS of $0.65 for the last quarter, exceeding analysts' expectations of $0.63, and has announced a quarterly dividend of $0.52 per share.
• Despite positive earnings, CubeSmart's stock has seen recent price objective cuts from analysts, with average target prices now around $46.06, indicating a cautious outlook on the stock.

Allspring Global Investments Holdings LLC lifted its position in CubeSmart (NYSE:CUBE - Free Report) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,092,379 shares of the real estate investment trust's stock after buying an additional 27,278 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.23% of CubeSmart worth $216,986,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CUBE. Bessemer Group Inc. increased its holdings in CubeSmart by 7.4% during the 1st quarter. Bessemer Group Inc. now owns 3,721 shares of the real estate investment trust's stock worth $158,000 after purchasing an additional 255 shares during the period. Covestor Ltd increased its holdings in CubeSmart by 22.8% during the 1st quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after purchasing an additional 292 shares during the period. UniSuper Management Pty Ltd increased its holdings in CubeSmart by 0.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 63,200 shares of the real estate investment trust's stock worth $2,699,000 after purchasing an additional 300 shares during the period. Cerity Partners LLC increased its holdings in CubeSmart by 6.2% during the 1st quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust's stock worth $230,000 after purchasing an additional 316 shares during the period. Finally, CWM LLC increased its holdings in CubeSmart by 23.5% during the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 371 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Stock Down 1.1%

Shares of NYSE CUBE opened at $39.34 on Monday. The stock has a market cap of $8.97 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 8.75 and a beta of 0.96. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. CubeSmart has a 52-week low of $34.24 and a 52-week high of $50.86. The business has a 50-day moving average price of $40.23 and a 200 day moving average price of $41.02.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (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 analysts' expectations of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The business's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm 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. Equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart's dividend payout ratio (DPR) is presently 126.83%.

Analyst Ratings Changes

CUBE has been the topic of a number of recent analyst reports. Barclays dropped their price objective on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada dropped their price objective on CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. UBS Group dropped their price objective on CubeSmart from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, September 16th. BNP Paribas Exane initiated coverage on CubeSmart in a report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price objective on the stock. Finally, BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $48.00 to $49.00 in a report on Friday, June 20th. Seven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of "Hold" and an average target price of $46.06.

CubeSmart 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.

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