Alyeska Investment Group L.P. Has $151.38 Million Position in CubeSmart $CUBE

Key Points

• Alyeska Investment Group L.P. increased its stake in CubeSmart by 37.7%, now owning approximately 1.55% of the total shares valued at $151.38 million.
• Recent analyst ratings show a mix of optimism, with BMO Capital Markets raising its price target to $49.00 and Citigroup lowering theirs to $43.00, leading to a consensus rating of "Hold" with an average target price of $46.69.
• CubeSmart announced a quarterly dividend of $0.52 per share, indicating an annualized yield of 5.2%, with a payout ratio of 126.83%.

Alyeska Investment Group L.P. raised its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 37.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,544,379 shares of the real estate investment trust's stock after acquiring an additional 969,738 shares during the period. Alyeska Investment Group L.P. owned approximately 1.55% of CubeSmart worth $151,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CUBE. Adage Capital Partners GP L.L.C. grew its holdings in shares of CubeSmart by 25.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 125,000 shares of the real estate investment trust's stock worth $5,339,000 after purchasing an additional 25,000 shares during the period. Royal Bank of Canada grew its holdings in shares of CubeSmart by 1.3% during the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust's stock worth $7,429,000 after purchasing an additional 2,284 shares during the period. Caption Management LLC purchased a new stake in shares of CubeSmart during the 1st quarter worth about $554,000. Twin Tree Management LP purchased a new stake in shares of CubeSmart during the 1st quarter worth about $537,000. Finally, Vident Advisory LLC grew its holdings in shares of CubeSmart by 108.0% during the 1st quarter. Vident Advisory LLC now owns 13,424 shares of the real estate investment trust's stock worth $573,000 after purchasing an additional 6,970 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CUBE. BNP Paribas upgraded CubeSmart to a "hold" rating in a report on Tuesday, June 24th. BMO Capital Markets raised CubeSmart from a "market perform" rating to an "outperform" rating and upped their target price for the company from $48.00 to $49.00 in a research report on Friday, June 20th. Bank of America raised CubeSmart from a "neutral" rating to a "buy" rating and upped their target price for the company from $44.00 to $50.00 in a research report on Tuesday, May 13th. Truist Financial raised their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, Wolfe Research initiated coverage on shares of CubeSmart in a report on Monday, May 19th. They set an "outperform" rating and a $48.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.69.

CubeSmart Stock Performance

Shares of CUBE stock traded down $0.62 on Monday, hitting $41.13. 333,661 shares of the stock traded hands, compared to its average volume of 1,767,368. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14. The company has a market capitalization of $9.38 billion, a PE ratio of 25.04, a PEG ratio of 9.29 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. The company's fifty day moving average is $40.88 and its 200 day moving average is $41.29.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.1%. CubeSmart's payout ratio is presently 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.