Alliancebernstein L.P. Has $63.08 Million Position in CubeSmart $CUBE

Alliancebernstein L.P. cut its holdings in CubeSmart (NYSE:CUBE - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,476,990 shares of the real estate investment trust's stock after selling 78,792 shares during the quarter. Alliancebernstein L.P. owned about 0.65% of CubeSmart worth $63,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CUBE. Mercer Global Advisors Inc. ADV boosted its holdings in shares of CubeSmart by 173.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,935 shares of the real estate investment trust's stock valued at $511,000 after buying an additional 7,573 shares during the period. EP Wealth Advisors LLC boosted its position 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 buying an additional 387 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in shares of CubeSmart during the fourth quarter worth about $379,000. FORA Capital LLC acquired a new position in shares of CubeSmart during the fourth quarter worth about $284,000. Finally, Graham Capital Management L.P. acquired a new position in CubeSmart during the 4th quarter worth approximately $2,358,000. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Performance

Shares of NYSE CUBE traded down $0.53 during midday trading on Friday, hitting $41.11. 277,156 shares of the company's stock were exchanged, compared to its average volume of 1,771,033. 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 has a 12 month low of $34.24 and a 12 month high of $55.14. The company's 50 day moving average price is $40.73 and its 200 day moving average price is $41.27. The firm has a market capitalization of $9.37 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 9.06 and a beta of 0.94.

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 (EPS) for the quarter, beating 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 business had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. During the same quarter last year, the firm posted $0.64 EPS. The company's quarterly revenue was up 6.0% on a year-over-year basis. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. As a group, analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Wednesday, October 1st. CubeSmart's dividend payout ratio (DPR) is currently 126.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CUBE shares. Citigroup decreased their price target on shares of CubeSmart from $45.00 to $43.00 and set a "neutral" rating for the company in a research note on Monday, August 25th. Mizuho increased their target price on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Evercore ISI reduced their price objective on shares of CubeSmart from $48.00 to $47.00 and set an "in-line" rating for the company in a research note on Monday, August 4th. Truist Financial increased their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, BNP Paribas Exane started coverage on CubeSmart in a research report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price target for the company. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently 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.