Alyeska Investment Group L.P. Has $151.38 Million Stock Holdings 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. lifted its holdings in CubeSmart (NYSE:CUBE - Free Report) by 37.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,544,379 shares of the real estate investment trust's stock after buying an additional 969,738 shares during the period. Alyeska Investment Group L.P. owned about 1.55% of CubeSmart worth $151,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted its position in shares of CubeSmart by 25.0% in the first 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 buying an additional 25,000 shares during the period. Royal Bank of Canada boosted its position in shares of CubeSmart by 1.3% in the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust's stock worth $7,429,000 after buying an additional 2,284 shares during the period. Caption Management LLC acquired a new stake in shares of CubeSmart in the first quarter worth $554,000. Twin Tree Management LP acquired a new stake in shares of CubeSmart in the first quarter worth $537,000. Finally, Vident Advisory LLC boosted its position in shares of CubeSmart by 108.0% in the first quarter. Vident Advisory LLC now owns 13,424 shares of the real estate investment trust's stock worth $573,000 after buying an additional 6,970 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Up 1.7%

Shares of NYSE:CUBE traded up $0.71 on Friday, reaching $41.69. The company had a trading volume of 1,499,381 shares, compared to its average volume of 1,450,534. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The stock has a 50-day moving average price of $40.88 and a 200 day moving average price of $41.29. The stock has a market capitalization of $9.51 billion, a P/E ratio of 25.42, a P/E/G ratio of 9.12 and a beta of 0.94. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share 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 company had revenue of $282.30 million during the quarter, compared to analysts' expectations of $275.71 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business's quarterly revenue 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 analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.0%. CubeSmart's payout ratio is currently 126.83%.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several recent research reports. BNP Paribas Exane initiated coverage on CubeSmart in a report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price objective for the company. Mizuho increased their price objective on CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $48.00 to $49.00 in a report on Friday, June 20th. Finally, Citigroup cut their price objective on CubeSmart from $45.00 to $43.00 and set a "neutral" rating for the company in a report on Monday, August 25th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, CubeSmart currently has a consensus rating of "Hold" and an average target price of $46.69.

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.