Vident Advisory LLC Buys 6,970 Shares of CubeSmart $CUBE

Key Points

• Vident Advisory LLC increased its stake in CubeSmart by 108.0%, holding 13,424 shares worth approximately $573,000 after acquiring additional shares in the first quarter.
• CubeSmart reported a Q2 EPS of $0.65, exceeding analysts' expectations, and had a revenue of $282.30 million, a 6.0% increase year-over-year.
• The company declared a quarterly dividend of $0.52 per share, reflecting an annualized dividend yield of 5.0%, with a payout ratio of 126.83%.

Vident Advisory LLC increased its stake in CubeSmart (NYSE:CUBE - Free Report) by 108.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,424 shares of the real estate investment trust's stock after purchasing an additional 6,970 shares during the quarter. Vident Advisory LLC's holdings in CubeSmart were worth $573,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. grew its position in shares of CubeSmart by 7.4% in the first quarter. Bessemer Group Inc. now owns 3,721 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 255 shares in the last quarter. Covestor Ltd grew its position in shares of CubeSmart by 22.8% in the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 292 shares in the last quarter. Cerity Partners LLC boosted its position in shares of CubeSmart by 6.2% during the 1st quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust's stock valued at $230,000 after acquiring an additional 316 shares during the last quarter. CWM LLC boosted its position in shares of CubeSmart by 23.5% during the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock valued at $83,000 after acquiring an additional 371 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of CubeSmart by 4.4% during the fourth quarter. EP Wealth Advisors LLC now owns 9,127 shares of the real estate investment trust's stock worth $391,000 after purchasing an additional 387 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CUBE stock traded down $0.40 during mid-day trading on Friday, hitting $41.23. 1,038,601 shares of the stock were exchanged, compared to its average volume of 1,505,436. 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 business has a fifty day moving average price of $40.69 and a 200 day moving average price of $41.26. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 9.27 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results 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 firm 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 company posted $0.64 earnings per share. The company'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. On average, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CUBE shares. Barclays lowered their target price on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada dropped their target price on shares of CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Citigroup dropped their target price on shares of CubeSmart from $45.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, August 25th. Mizuho lifted their target price on shares of CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, 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 research report on Monday, May 19th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, 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.