Quantbot Technologies LP Buys 34,377 Shares of CubeSmart $CUBE

Key Points

• Quantbot Technologies LP significantly increased its stake in CubeSmart by 2,555.9% in Q1, acquiring a total of 35,722 shares worth approximately $1.5 million.
• CubeSmart reported $0.65 EPS for the last quarter, surpassing estimates and indicating a 6.0% revenue growth from the previous year.
• The company announced a quarterly dividend of $0.52 per share, with an annualized yield of 5.1%, although its payout ratio is notably high at 126.83%.

Quantbot Technologies LP grew its position in CubeSmart (NYSE:CUBE - Free Report) by 2,555.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,722 shares of the real estate investment trust's stock after purchasing an additional 34,377 shares during the period. Quantbot Technologies LP's holdings in CubeSmart were worth $1,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CUBE. Mariner LLC raised its holdings in shares of CubeSmart by 2.5% during the fourth quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock worth $585,000 after acquiring an additional 328 shares during the period. Walleye Capital LLC acquired a new stake in shares of CubeSmart during the fourth quarter worth $315,000. GeoWealth Management LLC raised its holdings in shares of CubeSmart by 16.2% during the fourth quarter. GeoWealth Management LLC now owns 3,074 shares of the real estate investment trust's stock worth $132,000 after acquiring an additional 429 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of CubeSmart by 176.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,283 shares of the real estate investment trust's stock worth $826,000 after acquiring an additional 12,296 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of CubeSmart by 9.6% during the fourth quarter. Hsbc Holdings PLC now owns 360,492 shares of the real estate investment trust's stock worth $15,431,000 after acquiring an additional 31,506 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CUBE. Truist Financial raised their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Citigroup dropped their price objective on shares of CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $48.00 to $49.00 in a report on Friday, June 20th. Mizuho raised their price objective on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and a consensus target price of $46.69.

CubeSmart Stock Performance

Shares of CubeSmart stock traded up $0.45 during trading on Wednesday, hitting $40.67. 869,350 shares of the stock were exchanged, compared to its average volume of 1,773,366. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 8.99 and a beta of 0.94. The company has a fifty day moving average price of $41.16 and a 200-day moving average price of $41.35. CubeSmart has a 1-year low of $34.24 and a 1-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 for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $282.30 million for the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. CubeSmart's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. 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 analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.52 per share. The ex-dividend date 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%.

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.