Invesco Ltd. Purchases 530,787 Shares of CubeSmart $CUBE

Key Points

• Invesco Ltd. has increased its stake in CubeSmart by 19.8%, owning approximately 3.21 million shares worth $137.25 million as of the latest SEC filing.
• Investment companies are showing strong interest in CubeSmart, with several firms like Covestor Ltd. and JPMorgan Chase & Co. significantly boosting their positions during the first quarter of the year.
• CubeSmart announced a quarterly dividend of $0.52 per share, representing an annualized dividend yield of 5.3%; however, the company's dividend payout ratio is notably high at 126.83%.

Invesco Ltd. raised its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 19.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,213,480 shares of the real estate investment trust's stock after purchasing an additional 530,787 shares during the period. Invesco Ltd. owned 1.41% of CubeSmart worth $137,248,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of CubeSmart by 115.2% in the first 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 during the period. Covestor Ltd boosted its stake in shares of CubeSmart by 22.8% in the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after acquiring an additional 292 shares during the period. 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 worth $76,000 after acquiring an additional 1,468 shares during the period. UMB Bank n.a. boosted its stake in shares of 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 worth $82,000 after acquiring an additional 975 shares during the period. Finally, CWM LLC boosted its stake in shares of CubeSmart by 23.5% in the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock worth $83,000 after acquiring an additional 371 shares during the period. Institutional investors own 97.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CUBE. Evercore ISI dropped their price objective on CubeSmart from $48.00 to $47.00 and set an "in-line" rating for the company in a research note on Monday, August 4th. BNP Paribas Exane began coverage on CubeSmart in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price objective for the company. BNP Paribas raised CubeSmart to a "hold" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada dropped their price target on CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Finally, Wolfe Research began coverage on CubeSmart in a research note on Monday, May 19th. They set an "outperform" rating and a $48.00 price target for the company. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.93.

CubeSmart Trading Up 2.0%

Shares of NYSE CUBE traded up $0.7660 during midday trading on Tuesday, hitting $39.7660. The company's stock had a trading volume of 249,561 shares, compared to its average volume of 1,789,074. 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 50 day moving average is $41.52 and its two-hundred day moving average is $41.41. CubeSmart has a 12-month low of $34.24 and a 12-month high of $55.14. The firm has a market cap of $9.07 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 8.79 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results 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 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 the consensus estimate of $275.71 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company'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. As a group, equities research analysts expect that CubeSmart will post 2.64 EPS for the current 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 $0.52 dividend. 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 is 126.83%.

CubeSmart 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.