Cullen Frost Bankers Inc. Sells 66,064 Shares of CubeSmart $CUBE

Key Points

• Cullen Frost Bankers cut its CubeSmart stake by 62.5% in the fourth quarter, selling 66,064 shares and leaving it with 39,678 shares worth about $1.43 million.
• Analysts are mixed on CubeSmart: the stock currently has a consensus Hold rating with an average price target of $43, while recent updates included both upgrades and target changes.
• CubeSmart beat quarterly earnings expectations, reporting $0.36 EPS on revenue of $281.93 million, and it also announced a quarterly dividend of $0.53 per share, equal to a 5.3% annualized yield.

Cullen Frost Bankers Inc. lowered its stake in CubeSmart (NYSE:CUBE - Free Report) by 62.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,678 shares of the real estate investment trust's stock after selling 66,064 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in CubeSmart were worth $1,430,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in shares of CubeSmart by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust's stock worth $217,162,000 after acquiring an additional 91,694 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of CubeSmart by 36.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust's stock worth $174,185,000 after acquiring an additional 1,143,464 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of CubeSmart by 37.3% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust's stock worth $136,805,000 after acquiring an additional 914,884 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of CubeSmart by 5.4% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,339,974 shares of the real estate investment trust's stock worth $95,143,000 after acquiring an additional 120,450 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of CubeSmart by 4.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust's stock worth $73,748,000 after acquiring an additional 75,855 shares during the last quarter. Institutional investors own 97.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CUBE. BNP Paribas Exane raised shares of CubeSmart from a "neutral" rating to an "outperform" rating and set a $43.00 target price for the company in a report on Wednesday, March 18th. Wells Fargo & Company dropped their target price on shares of CubeSmart from $40.00 to $39.00 and set an "equal weight" rating for the company in a report on Thursday, April 16th. Royal Bank Of Canada reissued an "outperform" rating and issued a $46.00 target price on shares of CubeSmart in a report on Monday, May 4th. Wall Street Zen raised CubeSmart from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, UBS Group upped their price objective on CubeSmart from $37.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $43.00.

CubeSmart Stock Performance

CubeSmart stock opened at $40.17 on Friday. The business has a 50 day moving average of $38.67 and a 200-day moving average of $38.00. CubeSmart has a 1 year low of $35.09 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $9.09 billion, a P/E ratio of 28.29, a P/E/G ratio of 6.86 and a beta of 1.11.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. CubeSmart had a return on equity of 11.84% and a net margin of 28.93%.The company had revenue of $281.93 million during the quarter, compared to the consensus estimate of $275.25 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The firm's revenue was up 3.3% compared to the same quarter last year. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. On average, equities research analysts predict that CubeSmart will post 2.57 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. CubeSmart's dividend payout ratio is currently 149.30%.

Insider Activity

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the sale, the insider owned 205,057 shares of the company's stock, valued at approximately $8,411,438.14. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.76% of the stock is owned by corporate insiders.

CubeSmart Company Profile

CubeSmart NYSE: CUBE is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company's portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart's facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.

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