Jacobs Levy Equity Management Inc. Invests $1.51 Million in CubeSmart $CUBE

Key Points

• Jacobs Levy Equity Management Inc. has acquired a significant stake in CubeSmart, purchasing 35,351 shares worth approximately $1.51 million in the first quarter.
• Several institutional investors, including T. Rowe Price and JPMorgan Chase, have also increased their holdings in CubeSmart, collectively owning 97.61% of the stock.
• CubeSmart announced a quarterly dividend of $0.52 per share, translating to an annualized dividend of $2.08 and a yield of 5.0%, with a payout ratio of 126.83%.

Jacobs Levy Equity Management Inc. bought a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 35,351 shares of the real estate investment trust's stock, valued at approximately $1,510,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CUBE. Allworth Financial LP boosted its stake in shares of 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 boosted its stake in shares of CubeSmart by 22.8% during the 1st 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 in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of CubeSmart by 446.2% during the 1st 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 in the last quarter. UMB Bank n.a. boosted its stake in shares of CubeSmart by 103.5% during the 1st 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 in the last quarter. Finally, CWM LLC boosted its stake in shares of CubeSmart by 23.5% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CUBE. Evercore ISI raised CubeSmart from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $47.00 to $48.00 in a research note on Monday. Royal Bank Of Canada decreased their price target on CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Citigroup lowered their target price on CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, August 25th. BNP Paribas upgraded CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Finally, BNP Paribas Exane started coverage on CubeSmart in a report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $46.27.

CubeSmart Trading Down 0.8%

Shares of CubeSmart stock traded down $0.35 during trading hours on Monday, reaching $40.84. 1,675,208 shares of the company's stock were exchanged, compared to its average volume of 1,774,833. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 9.17 and a beta of 0.94. The company has a fifty day moving average of $40.69 and a 200-day moving average of $41.24. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18.

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 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 company had revenue of $282.30 million for the quarter, compared to analyst estimates of $275.71 million. During the same quarter in the prior year, the company posted $0.64 EPS. The business's revenue for the quarter 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. Sell-side analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date 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.