Resona Asset Management Co. Ltd. Buys 8,579 Shares of CubeSmart $CUBE

Key Points

• Resona Asset Management Co. Ltd. increased its stake in CubeSmart shares by 9.5%, owning 98,589 shares valued at approximately $4,152,000 after acquiring an additional 8,579 shares.
• CubeSmart reported an EPS of $0.65 for the last quarter, surpassing estimates, with a net margin of 35.44% and revenue rising 6.0% year over year.
• The company announced a quarterly dividend of $0.52 per share, representing a 5.3% dividend yield, with a payout ratio currently at 126.83%.

Resona Asset Management Co. Ltd. raised its stake in CubeSmart (NYSE:CUBE - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,589 shares of the real estate investment trust's stock after acquiring an additional 8,579 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in CubeSmart were worth $4,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBE. Allworth Financial LP increased its position in CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 501 shares in the last quarter. Covestor Ltd increased its position in CubeSmart by 22.8% in the 1st quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 292 shares in the last quarter. Farther Finance Advisors LLC increased its position in CubeSmart by 446.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock valued at $76,000 after acquiring an additional 1,468 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of CubeSmart by 103.5% in the 1st 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 last quarter. Finally, CWM LLC grew 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 worth $83,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Mizuho lifted their price target on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Evercore ISI lowered their price target on shares of CubeSmart from $48.00 to $47.00 and set an "in-line" rating for the company in a research report on Monday, August 4th. BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a research report on Tuesday, June 24th. BNP Paribas Exane assumed coverage on shares of CubeSmart in a research report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price target for the company. Finally, Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $50.00 in a research report on Tuesday, May 13th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $46.93.

CubeSmart Trading Up 0.1%

CubeSmart stock traded up $0.0360 during midday trading on Thursday, hitting $40.0060. 977,260 shares of the stock were exchanged, compared to its average volume of 1,804,792. The company has a fifty day simple moving average of $41.31 and a two-hundred day simple moving average of $41.38. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The stock has a market capitalization of $9.12 billion, a PE ratio of 24.39, a P/E/G ratio of 8.90 and a beta of 0.94. 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 released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, topping 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 business had revenue of $282.30 million for the quarter, compared to analyst estimates of $275.71 million. During the same quarter last year, the firm earned $0.64 EPS. CubeSmart'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. Equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.2%. CubeSmart's dividend payout ratio (DPR) is presently 126.83%.

About CubeSmart

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.