Arrowstreet Capital Limited Partnership Boosts Holdings in CubeSmart $CUBE

Key Points

• Arrowstreet Capital increased its CubeSmart stake by 3.5% in the first quarter, bringing its holdings to 831,090 shares valued at approximately $30.5 million. Institutional investors collectively own 97.61% of CubeSmart’s stock.
• Analyst sentiment remains mixed, with six Buy ratings and nine Hold ratings; the consensus rating is Hold with an average price target of $43.42. Barclays upgraded the stock to Overweight and raised its target to $46.
• CubeSmart reported quarterly earnings of $0.36 per share, exceeding estimates, while revenue rose 3.3% year over year to $281.93 million. The company announced a quarterly dividend of $0.53 per share, representing a 5.0% annualized yield.

Arrowstreet Capital Limited Partnership lifted its holdings in CubeSmart (NYSE:CUBE - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 831,090 shares of the real estate investment trust's stock after acquiring an additional 28,036 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.37% of CubeSmart worth $30,459,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in CubeSmart by 1.6% during the second quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust's stock valued at $731,000 after buying an additional 265 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in CubeSmart by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,964 shares of the real estate investment trust's stock valued at $255,000 after acquiring an additional 269 shares during the period. Fifth Third Bancorp grew its position in CubeSmart by 12.5% during the 1st quarter. Fifth Third Bancorp now owns 2,608 shares of the real estate investment trust's stock worth $96,000 after acquiring an additional 289 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in CubeSmart by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,204 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 295 shares during the last quarter. Finally, Pacific Sun Financial Corp increased its stake in CubeSmart by 6.6% in the 3rd quarter. Pacific Sun Financial Corp now owns 5,022 shares of the real estate investment trust's stock worth $204,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CUBE. Barclays upgraded CubeSmart from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $45.00 to $46.00 in a research report on Friday, July 10th. Evercore set a $47.00 target price on shares of CubeSmart in a report on Monday, July 6th. Mizuho lifted their target price on shares of CubeSmart from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of CubeSmart from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, UBS Group increased their price target on shares of CubeSmart from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $43.42.

CubeSmart Stock Performance

Shares of CUBE stock opened at $42.39 on Thursday. The stock has a fifty day moving average of $40.74 and a 200 day moving average of $39.49. CubeSmart has a 52 week low of $35.09 and a 52 week high of $43.26. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 7.35 and a beta of 1.08. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.29.

• CubeSmart NYSE: CUBE Stock is a Smart Pullback Play

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The business had revenue of $281.93 million for the quarter, compared to analysts' expectations of $275.25 million. CubeSmart had a net margin of 28.93% and a return on equity of 11.84%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, research analysts expect that CubeSmart will post 2.58 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.0%. CubeSmart's dividend payout ratio is 149.30%.

CubeSmart Profile

CubeSmart NYSE: CUBE is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company's portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart's facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.

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