Campbell & CO Investment Adviser LLC Reduces Holdings in CubeSmart $CUBE

Key Points

• Campbell & CO Investment Adviser LLC reduced its holdings in CubeSmart (CUBE) by 16.8%, owning 33,945 shares worth $1.45 million after selling 6,841 shares in Q1.
• CubeSmart's stock is currently trading at approximately $40.43, with a market capitalization of $9.22 billion and a year-to-date decline of 1.6%.
• The company recently announced a quarterly dividend of $0.52, scheduled for payment on October 15, which represents an annualized yield of 5.1% and a high dividend payout ratio of 126.83%.

Campbell & CO Investment Adviser LLC trimmed its stake in CubeSmart (NYSE:CUBE - Free Report) by 16.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,945 shares of the real estate investment trust's stock after selling 6,841 shares during the period. Campbell & CO Investment Adviser LLC's holdings in CubeSmart were worth $1,450,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CUBE. T. Rowe Price Investment Management Inc. grew its position in shares of 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 valued at $370,049,000 after buying an additional 1,937,055 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in CubeSmart by 219.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock worth $110,323,000 after purchasing an additional 1,768,626 shares during the period. Nuveen LLC acquired a new stake in CubeSmart during the 1st quarter worth $53,980,000. JPMorgan Chase & Co. boosted its stake in CubeSmart by 29.3% during 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. Finally, Northern Trust Corp boosted its stake in CubeSmart by 46.6% during the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock worth $161,067,000 after purchasing an additional 1,195,246 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Down 1.6%

CUBE stock opened at $40.4250 on Tuesday. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The stock has a market capitalization of $9.22 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 9.15 and a beta of 0.94. 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 company has a fifty day moving average of $41.22 and a 200-day moving average of $41.36.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The company had revenue of $282.30 million during the quarter, compared to analysts' expectations of $275.71 million. During the same quarter last year, the business earned $0.64 EPS. The business's revenue was up 6.0% on a year-over-year basis. 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, analysts expect 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. Investors of record on Wednesday, October 1st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.1%. CubeSmart's dividend payout ratio (DPR) is 126.83%.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of recent research reports. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and increased their price target for the stock from $44.00 to $50.00 in a research note on Tuesday, May 13th. BNP Paribas Exane initiated coverage on shares of CubeSmart in a research note on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price target for the company. Mizuho increased their price target on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $48.00 to $49.00 in a research note on Friday, June 20th. Finally, Evercore ISI decreased their price target on shares of CubeSmart from $48.00 to $47.00 and set an "in-line" rating for the company in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $46.69.

CubeSmart 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.

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