CubeSmart $CUBE is Landscape Capital Management L.L.C.'s 10th Largest Position

Key Points

• Landscape Capital Management L.L.C. significantly increased its holdings in CubeSmart by 1,882.3%, acquiring 196,100 additional shares during the first quarter, making it one of their top holdings.
• CubeSmart reported earnings of $0.65 per share, surpassing analyst expectations, with revenues reaching $282.30 million, marking a 6.0% year-over-year increase.
• The company announced a quarterly dividend of $0.52, translating to an annualized yield of 5.1%, with a dividend payout ratio currently at 126.83%.

Landscape Capital Management L.L.C. boosted its holdings in CubeSmart (NYSE:CUBE - Free Report) by 1,882.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,518 shares of the real estate investment trust's stock after purchasing an additional 196,100 shares during the quarter. CubeSmart comprises approximately 0.8% of Landscape Capital Management L.L.C.'s investment portfolio, making the stock its 10th largest holding. Landscape Capital Management L.L.C. owned about 0.09% of CubeSmart worth $8,820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its stake 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 valued at $370,049,000 after acquiring an additional 1,937,055 shares during the period. Alyeska Investment Group L.P. raised its stake in CubeSmart by 219.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock valued at $110,323,000 after acquiring an additional 1,768,626 shares during the period. Nuveen LLC bought a new stake in CubeSmart in the 1st quarter valued at about $53,980,000. JPMorgan Chase & Co. raised its stake 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 valued at $237,519,000 after acquiring an additional 1,261,746 shares during the period. Finally, Northern Trust Corp raised its stake in CubeSmart by 46.6% in the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock valued at $161,067,000 after acquiring an additional 1,195,246 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CUBE has been the topic of several analyst reports. Scotiabank upped their price target on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Royal Bank Of Canada decreased their price target on CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Evercore ISI decreased their price target on CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a research report on Monday, August 4th. Mizuho upped their price target on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, BMO Capital Markets raised CubeSmart from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $48.00 to $49.00 in a report on Friday, June 20th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of "Hold" and an average price target of $46.69.

CubeSmart Price Performance

CUBE traded up $0.29 during midday trading on Monday, hitting $40.92. The stock had a trading volume of 1,377,931 shares, compared to its average volume of 1,495,070. The company has a market cap of $9.33 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 9.11 and a beta of 0.94. The business has a fifty day moving average of $41.06 and a 200 day moving average of $41.31. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $282.30 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm 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. As a group, equities analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.52 dividend. 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 dividend 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.