Hsbc Holdings PLC Boosts Stock Position in CubeSmart $CUBE

Key Points

• Hsbc Holdings PLC raised its position in CubeSmart by 72.0% in Q1, now holding 620,214 shares worth $26.37 million.
• CubeSmart reported $0.65 EPS for the last quarter, exceeding analysts' expectations, with a revenue increase of 6.0% year-over-year.
• The company announced a quarterly dividend of $0.52, resulting in an annual yield of 5.1%, with a payout ratio of 126.83%.

Hsbc Holdings PLC lifted its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 72.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 620,214 shares of the real estate investment trust's stock after acquiring an additional 259,722 shares during the quarter. Hsbc Holdings PLC owned approximately 0.27% of CubeSmart worth $26,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of CubeSmart by 115.2% during the first 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 raised its holdings in shares of CubeSmart by 22.8% during 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 raised its holdings in shares of CubeSmart by 446.2% during 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 acquiring an additional 1,468 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of CubeSmart by 103.5% during 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 raised its holdings in shares of CubeSmart by 23.5% during the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock valued at $83,000 after acquiring an additional 371 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CUBE. Royal Bank Of Canada decreased their price objective on CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Truist Financial increased their price objective on CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, May 19th. BNP Paribas upgraded CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Scotiabank increased their price objective on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, Barclays decreased their price objective on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $46.69.

CubeSmart Stock Down 0.5%

Shares of NYSE:CUBE traded down $0.21 on Thursday, hitting $40.50. 358,096 shares of the company traded hands, compared to its average volume of 1,775,613. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. The stock has a 50 day simple moving average of $41.13 and a 200-day simple moving average of $41.34. The company has a market cap of $9.24 billion, a PE ratio of 24.69, a PEG ratio of 8.95 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company had revenue of $282.30 million for the quarter, compared to analysts' expectations of $275.71 million. During the same period last year, the firm posted $0.64 earnings per share. CubeSmart's 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. As a group, research analysts expect that CubeSmart will post 2.64 earnings per share 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend 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.