M&T Bank Corp Takes Position in CubeSmart $CUBE

Key Points

• M&T Bank Corp initiated a new position in CubeSmart during the fourth quarter, buying 28,756 shares worth about $1.04 million.
• Other institutional investors have also been active in the stock, and 97.61% of CubeSmart shares are currently owned by institutions.
• CubeSmart recently beat earnings estimates for the quarter and maintained a quarterly dividend of $0.53 per share, for an annualized yield of about 5.2%.

M&T Bank Corp acquired a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 28,756 shares of the real estate investment trust's stock, valued at approximately $1,036,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of CubeSmart by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust's stock valued at $217,162,000 after purchasing an additional 91,694 shares during the period. Alyeska Investment Group L.P. raised its position in shares of CubeSmart by 36.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust's stock valued at $174,185,000 after purchasing an additional 1,143,464 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in shares of CubeSmart by 37.3% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust's stock valued at $136,805,000 after purchasing an additional 914,884 shares during the period. Duff & Phelps Investment Management Co. raised its position in shares of CubeSmart by 5.4% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,339,974 shares of the real estate investment trust's stock valued at $95,143,000 after purchasing an additional 120,450 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of CubeSmart by 4.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust's stock valued at $73,748,000 after purchasing an additional 75,855 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of CubeSmart from $40.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. Barclays upped their target price on shares of CubeSmart from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of CubeSmart from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $46.00 price target on shares of CubeSmart in a report on Monday, May 4th. Finally, BNP Paribas Exane upgraded shares of CubeSmart from a "neutral" rating to an "outperform" rating and set a $43.00 price target on the stock in a report on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, CubeSmart has an average rating of "Hold" and an average target price of $43.57.

Insider Buying and Selling

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the transaction, the insider directly owned 205,057 shares of the company's stock, valued at $8,411,438.14. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.76% of the company's stock.

CubeSmart Price Performance

Shares of CubeSmart stock opened at $40.46 on Monday. The stock has a 50 day moving average of $38.84 and a 200 day moving average of $38.09. CubeSmart has a 12 month low of $35.09 and a 12 month high of $44.13. The firm has a market cap of $9.16 billion, a PE ratio of 28.49, a PEG ratio of 7.01 and a beta of 1.11. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.29.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. CubeSmart had a return on equity of 11.84% and a net margin of 28.93%.The company had revenue of $281.93 million during the quarter, compared to analyst estimates of $275.25 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. On average, research analysts expect that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.2%. CubeSmart's dividend payout ratio is presently 149.30%.

CubeSmart Company Profile

CubeSmart NYSE: CUBE is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company's portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart's facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.

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