Amundi Buys 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 increased its position in CubeSmart (NYSE:CUBE - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,247 shares of the real estate investment trust's stock after acquiring an additional 6,506 shares during the quarter. Amundi owned about 0.06% of CubeSmart worth $5,270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 501 shares in the last quarter. Covestor Ltd increased its holdings in CubeSmart by 22.8% in 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 in the last quarter. Farther Finance Advisors LLC increased its holdings 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 acquiring an additional 1,468 shares in the last quarter. UMB Bank n.a. increased 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 worth $82,000 after acquiring an additional 975 shares in the last quarter. Finally, CWM LLC increased 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 worth $83,000 after acquiring an additional 371 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

Shares of CUBE stock traded down $0.40 on Friday, reaching $41.23. The company's stock had a trading volume of 1,038,601 shares, compared to its average volume of 1,505,436. The stock's fifty day simple moving average is $40.69 and its 200-day simple moving average is $41.26. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 9.27 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its 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 net margin of 35.44% and a return on equity of 13.12%. The firm had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. During the same period last year, the firm posted $0.64 earnings per share. CubeSmart'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. Analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 dividend on an annualized basis and a dividend yield of 5.0%. CubeSmart's dividend payout ratio (DPR) is 126.83%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Wolfe Research started coverage on shares of CubeSmart in a report on Monday, May 19th. They set an "outperform" rating and a $48.00 price objective for the company. BMO Capital Markets raised shares of 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. Citigroup cut their price objective on shares of CubeSmart from $45.00 to $43.00 and set a "neutral" rating for the company in a report on Monday, August 25th. Finally, BNP Paribas raised shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.20.

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.