CubeSmart $CUBE Shares Purchased by Anson Funds Management LP

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 boosted its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 93.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 buying an additional 1,937,055 shares during the period. Price T Rowe Associates Inc. MD raised its position in CubeSmart by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust's stock valued at $291,922,000 after acquiring an additional 543,158 shares in the last quarter. JPMorgan Chase & Co. raised its position in CubeSmart by 29.3% during the first 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CubeSmart by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust's stock valued at $212,886,000 after acquiring an additional 72,513 shares during the period. Finally, Northern Trust Corp boosted its position in CubeSmart by 4.3% in the 1st quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust's stock worth $167,463,000 after purchasing an additional 162,068 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a report on Monday, May 19th. Barclays dropped their price target on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Wolfe Research initiated coverage on shares of CubeSmart in a research report on Monday, May 19th. They issued an "outperform" rating and a $48.00 price objective for the company. Evercore ISI lowered their target price on shares of CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a research note on Monday, August 4th. Finally, BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $48.00 to $49.00 in a research note on Friday, June 20th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.93.

CubeSmart Stock Up 2.6%

CUBE stock opened at $41.07 on Friday. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. The firm has a 50-day simple moving average of $41.27 and a 200-day simple moving average of $41.38. The stock has a market capitalization of $9.37 billion, a P/E ratio of 25.04, a P/E/G ratio of 9.15 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data 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. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company had revenue of $282.30 million for the quarter, compared to analysts' expectations of $275.71 million. During the same period in the previous year, the firm posted $0.64 EPS. CubeSmart's 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. Equities analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued 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 dividend yield of 5.1%. CubeSmart's dividend 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.

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