CubeSmart $CUBE Shares Purchased by Presima Securities ULC

Key Points

• Presima Securities ULC increased its stake in CubeSmart by 12.6% in Q1, holding approximately 500,282 shares worth $21.37 million, which makes it the fund's 9th largest holding.
• CubeSmart's quarterly dividend of $0.52 will be paid on October 15th, representing an annualized yield of 5.0% with a payout ratio of 126.83%.
• Latest earnings show $0.65 earnings per share, exceeding estimates of $0.63, with a projected growth of 6.0% year-over-year in revenue.

Presima Securities ULC lifted its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,282 shares of the real estate investment trust's stock after purchasing an additional 55,892 shares during the quarter. CubeSmart accounts for approximately 4.8% of Presima Securities ULC's portfolio, making the stock its 9th largest position. Presima Securities ULC owned about 0.22% of CubeSmart worth $21,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its position in CubeSmart by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust's stock valued at $370,049,000 after purchasing an additional 1,937,055 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of CubeSmart by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust's stock valued at $291,922,000 after acquiring an additional 543,158 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CubeSmart by 29.3% during the first quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust's stock valued at $237,519,000 after acquiring an additional 1,261,746 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CubeSmart by 1.5% during the first 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 acquiring an additional 72,513 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of CubeSmart by 4.3% during the first quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust's stock valued at $167,463,000 after acquiring an additional 162,068 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CUBE shares. Royal Bank Of Canada decreased their target price on CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Wolfe Research initiated coverage on CubeSmart in a research note on Monday, May 19th. They set an "outperform" rating and a $48.00 price target for the company. Barclays cut their price objective on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. BNP Paribas Exane assumed coverage on CubeSmart in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price target for the company. Finally, Mizuho lifted their price target on shares of CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $46.69.

CubeSmart Stock Down 0.9%

Shares of CubeSmart stock traded down $0.36 on Friday, reaching $41.28. The stock had a trading volume of 405,020 shares, compared to its average volume of 1,771,849. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The stock has a market capitalization of $9.41 billion, a P/E ratio of 25.14, a P/E/G ratio of 9.06 and a beta of 0.94. The company has a 50 day moving average price of $40.73 and a 200 day moving average price of $41.27.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $282.30 million for the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.CubeSmart's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. As a group, equities research analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 1st. CubeSmart's payout ratio is presently 126.83%.

CubeSmart 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.