Jacobs Levy Equity Management Inc. Buys Shares of 35,351 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 stake in CubeSmart (NYSE:CUBE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,351 shares of the real estate investment trust's stock, valued at approximately $1,510,000.

Several other institutional investors also recently modified their holdings of CUBE. Allworth Financial LP grew its holdings 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 purchasing an additional 501 shares in the last quarter. Covestor Ltd raised its position 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 worth $67,000 after acquiring an additional 292 shares during the last quarter. Farther Finance Advisors LLC raised its position 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 worth $76,000 after acquiring an additional 1,468 shares during the last quarter. UMB Bank n.a. raised its position 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 worth $82,000 after acquiring an additional 975 shares during the last quarter. Finally, CWM LLC grew its stake 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 worth $83,000 after purchasing an additional 371 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CUBE. UBS Group decreased their price objective on CubeSmart from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Tuesday. 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 objective for the company. Wall Street Zen lowered CubeSmart from a "hold" rating to a "sell" rating in a report on Saturday. Royal Bank Of Canada dropped their price objective on CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Finally, Mizuho upped their price objective on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Seven research 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 an average rating of "Hold" and a consensus price target of $46.00.

CubeSmart Price Performance

NYSE:CUBE traded up $0.28 during trading hours on Wednesday, reaching $41.28. 2,436,417 shares of the company were exchanged, compared to its average volume of 1,553,028. The company has a market capitalization of $9.41 billion, a P/E ratio of 25.17, a P/E/G ratio of 9.13 and a beta of 0.94. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14. 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 business has a 50 day moving average of $40.60 and a 200 day moving average of $41.24.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $282.30 million for the quarter, compared to the consensus estimate of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. Research analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart's dividend payout ratio (DPR) is currently 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.