Anson Funds Management LP Acquires 30,000 Shares of CubeSmart $CUBE

Key Points

• Anson Funds Management LP increased its stake in CubeSmart by 93.5% during the first quarter, owning over 62,000 shares valued at approximately $2.65 million.
• CubeSmart's recent quarterly earnings showed an EPS of $0.65, surpassing expectations, with revenue growth of 6.0% year-over-year to $282.3 million.
• The company announced a quarterly dividend of $0.52 per share, resulting in an annualized dividend yield of 5.1%, despite a high payout ratio of 126.83%.

Anson Funds Management LP lifted its position in CubeSmart (NYSE:CUBE - Free Report) by 93.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,090 shares of the real estate investment trust's stock after purchasing an additional 30,000 shares during the period. Anson Funds Management LP's holdings in CubeSmart were worth $2,652,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 501 shares during the period. Covestor Ltd boosted its stake in shares of CubeSmart by 22.8% during the 1st quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after acquiring an additional 292 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of 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 acquiring an additional 1,468 shares in the last quarter. UMB Bank n.a. lifted its stake in CubeSmart by 103.5% in the 1st quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock valued at $82,000 after buying an additional 975 shares in the last quarter. Finally, CWM LLC lifted its stake in CubeSmart by 23.5% in the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock valued at $83,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Scotiabank increased their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and raised their price target for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. Mizuho raised their price target on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. BNP Paribas Exane started 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, Evercore ISI cut their price target on shares of CubeSmart from $48.00 to $47.00 and set an "in-line" rating for the company in a report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.69.

CubeSmart Stock Performance

NYSE CUBE traded down $0.03 on Friday, hitting $40.60. 473,856 shares of the company's stock were exchanged, compared to its average volume of 1,774,503. 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 firm's 50-day moving average price is $41.09 and its two-hundred day moving average price is $41.33. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 9.06 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $282.30 million for the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business 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. On average, research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company 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 $0.52 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.1%. CubeSmart's dividend payout ratio (DPR) 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.