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

Other hedge funds also recently bought and sold shares of the company. Strs Ohio purchased a new position in shares of CubeSmart during the first quarter valued at approximately $16,354,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CubeSmart by 19.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,785,460 shares of the real estate investment trust's stock valued at $76,257,000 after purchasing an additional 287,792 shares during the period. Zimmer Partners LP purchased a new position in CubeSmart during the 1st quarter valued at $2,870,000. Caxton Associates LLP purchased a new position in CubeSmart during the 1st quarter valued at $270,000. Finally, Goldman Sachs Group Inc. increased its position in CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust's stock valued at $20,684,000 after purchasing an additional 19,476 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

CUBE has been the subject of several research analyst reports. BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Truist Financial raised their target price on CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, May 19th. BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and raised their target price for the company from $48.00 to $49.00 in a research note on Friday, June 20th. Barclays reduced their target price 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, Citigroup cut their price target on CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, August 25th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $46.69.

CubeSmart Stock Down 0.0%

CUBE opened at $40.72 on Thursday. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 9.07 and a beta of 0.94. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average price of $40.77 and a 200-day moving average price of $41.28.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company 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%.CubeSmart's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Wednesday, October 1st. CubeSmart's payout ratio is currently 126.83%.

About CubeSmart

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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