Anson Funds Management LP Acquires 30,000 Shares of CubeSmart $CUBE

Key Points

• Anson Funds Management LP increased its stake in CubeSmart by 93.5%, owning a total of 62,090 shares valued at approximately $2.65 million as of the latest SEC filing.
• CubeSmart declared a quarterly dividend of $0.52 per share, scheduled for payment on October 15th, which reflects an annualized dividend yield of 5.1%.
• The real estate investment trust posted an earnings per share (EPS) of $0.65 for the last quarter, exceeding analysts' expectations, alongside a revenue of $282.30 million.

Anson Funds Management LP increased its holdings in CubeSmart (NYSE:CUBE - Free Report) by 93.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,090 shares of the real estate investment trust's stock after purchasing an additional 30,000 shares during the quarter. Anson Funds Management LP's holdings in CubeSmart were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its position in CubeSmart by 28.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust's stock worth $370,049,000 after purchasing an additional 1,937,055 shares during the period. Price T Rowe Associates Inc. MD raised its position in CubeSmart by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust's stock worth $291,922,000 after purchasing an additional 543,158 shares during the period. JPMorgan Chase & Co. raised its position in CubeSmart by 29.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust's stock worth $237,519,000 after purchasing an additional 1,261,746 shares during the period. Allspring Global Investments Holdings LLC raised its position in CubeSmart by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust's stock worth $212,886,000 after purchasing an additional 72,513 shares during the period. Finally, Northern Trust Corp raised its position in CubeSmart by 4.3% in the 1st quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust's stock worth $167,463,000 after purchasing an additional 162,068 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Trading Up 0.1%

Shares of CUBE traded up $0.04 during trading hours on Tuesday, reaching $40.85. 638,580 shares of the company traded hands, compared to its average volume of 1,768,094. The company's fifty day moving average price is $40.65 and its two-hundred day moving average price is $41.24. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 9.17 and a beta of 0.94. 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.

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 for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm 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 company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid 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 presently 126.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CUBE. Citigroup decreased their target price on shares of CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, August 25th. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $48.00 to $49.00 in a research report on Friday, June 20th. UBS Group decreased their price objective on shares of CubeSmart from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Tuesday. Barclays decreased their price objective on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Finally, Truist Financial boosted their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $46.00.

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.