CubeSmart $CUBE Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in CubeSmart (NYSE:CUBE) by 109.3%, acquiring an additional 158,588 shares during the second quarter, now owning 0.13% of the company worth approximately $12.9 million.
• CubeSmart reported a quarterly EPS of $0.65, exceeding estimates and reflecting a 6% year-over-year revenue growth of $282.30 million, with analysts forecasting 2.64 EPS for the current fiscal year.
• The company announced a quarterly dividend of $0.52, yielding 4.9%, with a dividend payout ratio currently at 126.83%.

TD Asset Management Inc raised its holdings in CubeSmart (NYSE:CUBE - Free Report) by 109.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 303,618 shares of the real estate investment trust's stock after acquiring an additional 158,588 shares during the quarter. TD Asset Management Inc owned 0.13% of CubeSmart worth $12,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CUBE. Farther Finance Advisors LLC raised its holdings in CubeSmart by 446.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock worth $76,000 after buying an additional 1,468 shares during the period. Janney Montgomery Scott LLC acquired a new stake in CubeSmart during the 1st quarter worth about $821,000. QRG Capital Management Inc. raised its holdings in CubeSmart by 9.8% during the 1st quarter. QRG Capital Management Inc. now owns 10,761 shares of the real estate investment trust's stock worth $460,000 after buying an additional 963 shares during the period. Praxis Investment Management Inc. raised its holdings in CubeSmart by 65.4% during the 1st quarter. Praxis Investment Management Inc. now owns 8,900 shares of the real estate investment trust's stock worth $380,000 after buying an additional 3,520 shares during the period. Finally, Bessemer Group Inc. raised its holdings in CubeSmart by 7.4% during the 1st quarter. Bessemer Group Inc. now owns 3,721 shares of the real estate investment trust's stock worth $158,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CUBE shares. Barclays cut their price objective on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada cut their price objective on CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. Evercore ISI raised their price target on shares of CubeSmart from $48.00 to $49.00 and gave the stock an "outperform" rating in a report on Friday, October 3rd. BNP Paribas Exane began coverage on shares of CubeSmart in a report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price target for the company. Finally, BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $46.06.

CubeSmart Trading Up 0.8%

NYSE:CUBE opened at $42.20 on Friday. The stock's 50 day moving average price is $40.42 and its 200 day moving average price is $41.00. CubeSmart has a 52 week low of $34.24 and a 52 week high of $50.69. The company has a market capitalization of $9.62 billion, a P/E ratio of 25.73, a P/E/G ratio of 9.37 and a beta of 0.96. 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 (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm had revenue of $282.30 million for the quarter, compared to the consensus estimate of $275.71 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm'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. On average, research analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.52 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.9%. CubeSmart's dividend payout ratio is currently 126.83%.

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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