MetLife Investment Management LLC Buys 85,414 Shares of CubeSmart $CUBE

Key Points

• MetLife Investment Management LLC increased its stake in CubeSmart by 63.7% during the first quarter, owning approximately 0.10% of the company valued at $9,375,000.
• CubeSmart's recent earnings report showed $0.65 EPS, exceeding estimates, with a quarterly revenue of $282.30 million, reflecting a 6.0% year-over-year increase.
• The company has declared a quarterly dividend of $0.52 per share, yielding 5.2%, with a dividend payout ratio currently at 126.83%.

MetLife Investment Management LLC grew its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 63.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,496 shares of the real estate investment trust's stock after buying an additional 85,414 shares during the period. MetLife Investment Management LLC owned 0.10% of CubeSmart worth $9,375,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of CubeSmart by 19.9% during the 1st quarter. HighTower Advisors LLC now owns 37,160 shares of the real estate investment trust's stock valued at $1,587,000 after buying an additional 6,179 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of CubeSmart by 140.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 808,440 shares of the real estate investment trust's stock valued at $34,528,000 after buying an additional 472,596 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of CubeSmart during the 1st quarter valued at about $821,000. Allspring Global Investments Holdings LLC lifted its position in shares of CubeSmart by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust's stock valued at $212,886,000 after buying an additional 72,513 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CubeSmart by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,183,271 shares of the real estate investment trust's stock valued at $135,958,000 after buying an additional 58,564 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CUBE has been the topic of a number of analyst reports. BNP Paribas raised CubeSmart to a "hold" rating in a research report on Tuesday, June 24th. BMO Capital Markets raised CubeSmart from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $48.00 to $49.00 in a research note on Friday, June 20th. Bank of America raised CubeSmart from a "neutral" rating to a "buy" rating and lifted their target price for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. Barclays decreased their target price on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Finally, Wolfe Research initiated coverage on CubeSmart in a research note on Monday, May 19th. They set an "outperform" rating and a $48.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $46.69.

CubeSmart Price Performance

CUBE traded up $0.29 on Monday, hitting $40.92. 1,377,931 shares of the company's stock traded hands, compared to its average volume of 1,495,070. The company's 50 day simple moving average is $41.06 and its 200-day simple moving average is $41.31. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 9.11 and a beta of 0.94. CubeSmart has a one year low of $34.24 and a one year high of $55.14. 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 released its quarterly earnings data 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. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The business had revenue of $282.30 million for the quarter, compared to the consensus estimate of $275.71 million. During the same quarter in the previous year, the company posted $0.64 EPS. The company'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 anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given 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 5.1%. CubeSmart's payout ratio is currently 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.