Amundi Acquires 6,506 Shares of CubeSmart $CUBE

Key Points

• Amundi has increased its stake in CubeSmart by 5.3%, adding 6,506 shares for a total ownership of 128,247 shares valued at approximately $5.27 million.
• Several institutional investors, including HighTower Advisors and MetLife Investment Management, have also significantly increased their positions in CubeSmart during the first quarter of 2023, with institutional ownership now at 97.61%.
• The most recent analyst ratings show a mix of downgrades and upgrades, with a consensus target price of $46.69 and the stock currently rated as a "Hold" by analysts.

Amundi lifted its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,247 shares of the real estate investment trust's stock after purchasing an additional 6,506 shares during the quarter. Amundi owned 0.06% of CubeSmart worth $5,270,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in shares of CubeSmart by 115.2% in the first 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 in the last quarter. 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 acquiring an additional 292 shares during the period. Farther Finance Advisors LLC lifted its stake in CubeSmart by 446.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 1,468 shares in the last quarter. UMB Bank n.a. boosted its holdings in 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 period. Finally, CWM LLC boosted its holdings in 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 period. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Price Performance

Shares of CUBE stock traded up $0.22 during trading hours on Tuesday, hitting $41.03. 2,182,636 shares of the company's stock were exchanged, compared to its average volume of 1,498,812. The company has a market capitalization of $9.36 billion, a PE ratio of 25.02, a PEG ratio of 9.09 and a beta of 0.94. The company has a current ratio of 0.06, a quick 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 business's 50 day simple moving average is $40.62 and its 200-day simple moving average is $41.24.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $282.30 million for 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 firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last 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. On average, equities research analysts anticipate 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. Stockholders of record on Wednesday, October 1st will be issued a $0.52 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.1%. CubeSmart's payout ratio is currently 126.83%.

Wall Street Analysts Forecast Growth

CUBE has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of CubeSmart in a report on Monday, May 19th. They issued an "outperform" rating and a $48.00 price target on the stock. Wall Street Zen lowered CubeSmart from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup dropped their price target on CubeSmart from $45.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, August 25th. BMO Capital Markets raised CubeSmart from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $48.00 to $49.00 in a report on Friday, June 20th. Finally, UBS Group lowered their target price on shares of CubeSmart from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, CubeSmart has an average rating of "Hold" and a consensus target price of $46.00.

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.