Raymond James Financial Inc. Sells 44,445 Shares of CubeSmart $CUBE

Key Points

• Raymond James Financial Inc. reduced its stake in CubeSmart by 9.0%, owning approximately 0.20% or 452,117 shares valued at $19.31 million after the sale.
• CubeSmart recently reported $0.65 EPS for the quarter, surpassing estimates, with revenue of $282.30 million, a 6.0% increase from the previous year.
• The company declared a quarterly dividend of $0.52, translating to an annualized yield of 5.1%, with a payout ratio of 126.83%.

Raymond James Financial Inc. decreased its position in CubeSmart (NYSE:CUBE - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 452,117 shares of the real estate investment trust's stock after selling 44,445 shares during the period. Raymond James Financial Inc. owned 0.20% of CubeSmart worth $19,310,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CUBE. Alyeska Investment Group L.P. increased its stake in CubeSmart by 219.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock valued at $110,323,000 after buying an additional 1,768,626 shares during the last quarter. Nuveen LLC purchased a new stake in CubeSmart in the 1st quarter valued at about $53,980,000. JPMorgan Chase & Co. increased its stake in CubeSmart by 29.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust's stock valued at $237,519,000 after buying an additional 1,261,746 shares during the last quarter. Northern Trust Corp grew its position in shares of CubeSmart by 46.6% during the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock valued at $161,067,000 after acquiring an additional 1,195,246 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of CubeSmart during the 4th quarter valued at approximately $45,805,000. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Stock Performance

CUBE traded up $0.29 on Monday, hitting $40.92. The company's stock had a trading volume of 1,377,931 shares, compared to its average volume of 1,495,070. The company's 50 day simple moving average is $41.06 and its 200-day simple moving average is $41.31. The firm has a market cap of $9.33 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 9.11 and a beta of 0.94. CubeSmart has a 12 month low of $34.24 and a 12 month 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.

CubeSmart (NYSE:CUBE - Get Free Report) last announced 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. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The firm had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. During the same period last year, the firm earned $0.64 EPS. 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. Analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart's dividend payout ratio (DPR) is presently 126.83%.

Analysts Set New Price Targets

CUBE has been the subject of a number of research reports. BNP Paribas raised shares of CubeSmart to a "hold" rating in a research report on Tuesday, June 24th. BNP Paribas Exane initiated coverage on shares of CubeSmart in a research report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 target price for the company. Truist Financial increased 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. Wolfe Research initiated coverage on shares of CubeSmart in a research report on Monday, May 19th. They set an "outperform" rating and a $48.00 target price for the company. Finally, Barclays reduced their target price on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CubeSmart has a consensus rating of "Hold" and an average price target 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.