CubeSmart $CUBE Position Increased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in CubeSmart by 8.6%, owning 6,834,955 shares valued at approximately $291.9 million.
• CubeSmart recently announced a quarterly dividend of $0.52 to be paid on October 15th, providing a dividend yield of 5.1%.
• Analysts have mixed ratings for CubeSmart, with a consensus rating of "Hold" and an average price target of $46.93.

Price T Rowe Associates Inc. MD increased its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,834,955 shares of the real estate investment trust's stock after acquiring an additional 543,158 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.00% of CubeSmart worth $291,922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its stake in CubeSmart by 115.2% during the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 501 shares during the period. Covestor Ltd increased its stake 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 during the period. Farther Finance Advisors LLC increased its stake in shares of CubeSmart by 446.2% in the first quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 1,468 shares during the period. UMB Bank n.a. increased its stake in shares of CubeSmart by 103.5% in the first quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 975 shares during the period. Finally, CWM LLC increased its stake in shares of CubeSmart by 23.5% in the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 371 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CUBE shares. Royal Bank Of Canada dropped their price target on shares of CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Evercore ISI dropped their price target 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. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a research note on Tuesday, June 24th. Finally, BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and raised their price target for the company from $48.00 to $49.00 in a research note on Friday, June 20th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $46.69.

CubeSmart Price Performance

NYSE CUBE traded up $0.54 on Wednesday, reaching $40.76. The company's stock had a trading volume of 2,645,041 shares, compared to its average volume of 1,784,579. The firm's 50 day moving average is $41.16 and its two-hundred day moving average is $41.35. The stock has a market cap of $9.29 billion, a PE ratio of 24.85, a PEG ratio of 8.99 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The business had revenue of $282.30 million for the quarter, compared to the consensus estimate of $275.71 million. During the same period in the previous year, the firm earned $0.64 EPS. The business's revenue for the quarter 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, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

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

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.