BROOKFIELD Corp ON Makes New Investment in CubeSmart $CUBE

Key Points

• BROOKFIELD Corp ON acquired 215,136 shares of CubeSmart valued at approximately $9.2 million, representing a 0.09% ownership stake according to its recent SEC filing.
• CubeSmart reported earnings of $0.65 per share for the last quarter, exceeding expectations, with revenue of $282.3 million reflecting a 6% year-over-year increase.
• The company announced a quarterly dividend of $0.52 per share, indicating an annual yield of 5.0%, with a relatively high dividend payout ratio of 126.83%.

BROOKFIELD Corp ON purchased a new position in CubeSmart (NYSE:CUBE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 215,136 shares of the real estate investment trust's stock, valued at approximately $9,188,000. BROOKFIELD Corp ON owned about 0.09% of CubeSmart at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its stake 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 during the last quarter. Covestor Ltd boosted its holdings in CubeSmart by 22.8% in the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after purchasing an additional 292 shares during the period. Farther Finance Advisors LLC boosted its holdings in CubeSmart by 446.2% in the first 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 during the period. UMB Bank n.a. boosted its holdings in CubeSmart by 103.5% in the first quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 975 shares during the period. Finally, CWM LLC boosted its holdings in CubeSmart by 23.5% in the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 371 shares during the period. Institutional investors own 97.61% of the company's stock.

CubeSmart Price Performance

NYSE CUBE traded up $0.48 on Wednesday, reaching $41.48. The company's stock had a trading volume of 492,629 shares, compared to its average volume of 1,769,911. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market cap of $9.46 billion, a PE ratio of 25.29, a PEG ratio of 9.09 and a beta of 0.94. The firm's 50 day moving average is $40.62 and its two-hundred day moving average is $41.24.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly 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 company had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. CubeSmart's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company 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. As a group, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, October 1st. CubeSmart's payout ratio is presently 126.83%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CUBE. Wall Street Zen downgraded shares of CubeSmart from a "hold" rating to a "sell" rating in a report on Saturday. Barclays decreased their price objective on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. BNP Paribas raised shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Mizuho lifted their price objective on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $48.00 to $49.00 in a report on Friday, June 20th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.