CubeSmart $CUBE Shares Purchased by CX Institutional

Key Points

• CX Institutional increased its stake in CubeSmart by 48.4%, owning 113,363 shares valued at $4.8 million as of the latest SEC filing.
• CubeSmart announced a quarterly dividend of $0.52 per share, providing an annual yield of 5.2%, with the payment scheduled for October 15th.
• Analysts have mixed ratings for CubeSmart, with a consensus target price of $46.00 and a balance of Buy and Hold ratings among the research community.

CX Institutional lifted its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 48.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 113,363 shares of the real estate investment trust's stock after buying an additional 36,961 shares during the quarter. CX Institutional's holdings in CubeSmart were worth $4,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 501 shares during the period. Covestor Ltd boosted its stake in 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 acquiring an additional 292 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of 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 purchasing an additional 1,468 shares in the last quarter. UMB Bank n.a. boosted its holdings 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 increased its position in shares of CubeSmart by 23.5% in the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 371 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CUBE shares. Mizuho boosted their target price 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. BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada decreased their target price on shares of CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. BNP Paribas Exane initiated coverage on CubeSmart in a research report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price target on the stock. Finally, Wall Street Zen raised shares of CubeSmart from a "sell" rating to a "hold" rating in a report on Sunday. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $46.00.

CubeSmart Stock Performance

NYSE CUBE traded down $0.58 during trading hours on Friday, hitting $40.21. 3,066,032 shares of the company's stock traded hands, compared to its average volume of 1,714,608. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. The business's fifty day moving average price is $40.52 and its two-hundred day moving average price is $41.20. The firm has a market capitalization of $9.17 billion, a P/E ratio of 24.52, a P/E/G ratio of 8.95 and a beta of 0.94. CubeSmart has a 52 week low of $34.24 and a 52 week high of $54.67.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $282.30 million during the quarter, compared to analysts' expectations of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.CubeSmart's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. 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 predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart's dividend payout ratio 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.