CubeSmart $CUBE Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in CubeSmart by 1.6%, owning nearly $24 million in shares as of the latest filing.
• CubeSmart reported $0.65 earnings per share for the last quarter, exceeding the consensus estimate of $0.63, and saw a year-over-year revenue increase of 6.0%.
• The company recently announced a quarterly dividend of $0.52 per share, with a dividend yield of 5.1% and a payout ratio of 126.83%.

American Century Companies Inc. increased its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 561,186 shares of the real estate investment trust's stock after buying an additional 9,060 shares during the quarter. American Century Companies Inc. owned about 0.25% of CubeSmart worth $23,968,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CUBE. Allworth Financial LP grew its stake in CubeSmart by 115.2% during the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after buying an additional 501 shares during the last quarter. Covestor Ltd grew its stake 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 buying an additional 292 shares during the last quarter. Farther Finance Advisors LLC grew its stake in CubeSmart by 446.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock worth $76,000 after buying an additional 1,468 shares during the last quarter. UMB Bank n.a. grew its stake in shares of CubeSmart by 103.5% in the 1st quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 975 shares during the last quarter. Finally, CWM LLC grew its stake in shares of CubeSmart by 23.5% in the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

CUBE has been the topic of several analyst reports. Citigroup lowered their target price on CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday. Barclays lowered their target price on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and lifted their target price for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $48.00 to $49.00 in a research note on Friday, June 20th. Finally, Evercore ISI lowered their target price on CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $46.69.

CubeSmart Price Performance

Shares of CubeSmart stock traded up $0.46 during trading on Wednesday, reaching $40.68. The company's stock had a trading volume of 769,206 shares, compared to its average volume of 1,772,849. 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 12-month low of $34.24 and a 12-month high of $55.14. The company has a market capitalization of $9.28 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 8.99 and a beta of 0.94. The business has a 50 day moving average price of $41.16 and a 200-day moving average price of $41.35.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm had revenue of $282.30 million for the quarter, compared to the consensus estimate of $275.71 million. During the same period in the previous year, the business earned $0.64 earnings per share. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. As a group, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.52 per share. 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 currently 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.