Panagora Asset Management Inc. Reduces Stock Position in CubeSmart $CUBE

Key Points

• Panagora Asset Management Inc. reduced its stake in CubeSmart by 18.2%, now holding 47,912 shares valued at approximately $2,046,000.
• Several institutional investors have recently increased their positions in CubeSmart, with Farther Finance Advisors LLC raising their stake by 446.2% during the same quarter.
• CubeSmart reported earnings of $0.65 per share for the last quarter, exceeding estimates, along with a new quarterly dividend of $0.52 per share announced for October 15th.

Panagora Asset Management Inc. cut its holdings in CubeSmart (NYSE:CUBE - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,912 shares of the real estate investment trust's stock after selling 10,647 shares during the period. Panagora Asset Management Inc.'s holdings in CubeSmart were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in CubeSmart by 101.6% in the 4th quarter. AQR Capital Management LLC now owns 127,499 shares of the real estate investment trust's stock valued at $5,435,000 after buying an additional 64,262 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in CubeSmart by 173.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,935 shares of the real estate investment trust's stock valued at $511,000 after buying an additional 7,573 shares in the last quarter. Bridgefront Capital LLC bought a new stake in CubeSmart in the 4th quarter valued at about $684,000. Brevan Howard Capital Management LP increased its position in CubeSmart by 63.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 11,609 shares of the real estate investment trust's stock valued at $497,000 after buying an additional 4,499 shares in the last quarter. Finally, BOKF NA increased its position in CubeSmart by 1.3% in the 4th quarter. BOKF NA now owns 60,154 shares of the real estate investment trust's stock valued at $2,420,000 after buying an additional 744 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Performance

Shares of CUBE stock traded up $0.71 during trading on Friday, hitting $41.69. The company's stock had a trading volume of 1,499,381 shares, compared to its average volume of 1,450,534. The company has a market cap of $9.51 billion, a PE ratio of 25.42, a P/E/G ratio of 9.29 and a beta of 0.94. 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 has a fifty day moving average of $40.88 and a 200-day moving average of $41.29. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. During the same period in the prior year, the company posted $0.64 earnings per share. CubeSmart's quarterly revenue 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, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

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 is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.0%. CubeSmart's dividend payout ratio is presently 126.83%.

Analyst Ratings Changes

A number of brokerages recently commented on CUBE. Wolfe Research began coverage on CubeSmart in a research report on Monday, May 19th. They issued an "outperform" rating and a $48.00 target price for the company. Evercore ISI decreased their price objective on CubeSmart from $48.00 to $47.00 and set an "in-line" rating for the company in a report on Monday, August 4th. Royal Bank Of Canada decreased their price objective on CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, August 4th. BNP Paribas Exane assumed coverage on CubeSmart in a report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price objective for the company. Finally, Scotiabank boosted their price objective on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $46.69.

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.