Gateway Investment Advisers LLC Purchases 17,994 Shares of CubeSmart $CUBE

Key Points

• Gateway Investment Advisers LLC increased its stake in CubeSmart (NYSE:CUBE) by 8.5% in Q2, adding 17,994 shares for a total holding of 228,461 shares valued at approximately $9.71 million.
• CubeSmart recently declared a quarterly dividend of $0.52 per share, which is set to be paid on October 15th, reflecting an annualized dividend of $2.08 and a yield of around 5.0%.
• Analysts have mixed ratings on CubeSmart, with a consensus rating of "Hold" and a price target range reflecting recent adjustments from firms like UBS and Royal Bank of Canada.

Gateway Investment Advisers LLC grew its position in CubeSmart (NYSE:CUBE - Free Report) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,461 shares of the real estate investment trust's stock after buying an additional 17,994 shares during the period. Gateway Investment Advisers LLC owned 0.10% of CubeSmart worth $9,710,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in CubeSmart by 115.2% during the 1st 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 in the last quarter. Covestor Ltd increased its position in CubeSmart by 22.8% during the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after purchasing an additional 292 shares during the last quarter. Farther Finance Advisors LLC boosted 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. raised its holdings in 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 acquiring an additional 975 shares in the last quarter. Finally, CWM LLC lifted 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 buying an additional 371 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Performance

CubeSmart stock traded down $0.58 during mid-day trading on Friday, hitting $40.21. 3,066,032 shares of the company's stock traded hands, compared to its average volume of 1,622,479. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $54.67. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 8.95 and a beta of 0.94. The firm has a 50 day simple moving average of $40.52 and a two-hundred day simple moving average of $41.21.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results 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. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm had revenue of $282.30 million for the quarter, compared to analysts' expectations of $275.71 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. 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. On average, research analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 5.2%. CubeSmart's payout ratio is 126.83%.

Analysts Set New Price Targets

Several equities analysts have commented on CUBE shares. Wall Street Zen raised shares of CubeSmart from a "sell" rating to a "hold" rating in a research note on Sunday. Mizuho increased their price target on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Citigroup dropped their price target on shares of CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, August 25th. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $48.00 to $49.00 in a research note on Friday, June 20th. Finally, UBS Group dropped their price target on shares of CubeSmart from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 16th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.00.

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.