Truist Financial Corp Sells 289,249 Shares of CubeSmart $CUBE

Key Points

• Truist Financial Corp sold 289,249 shares of CubeSmart, reducing its stake by 42.5% in the second quarter, and now owns about 0.17% of the company worth $16.6 million.
• CubeSmart reported $0.65 earnings per share (EPS), exceeding analysts' expectations of $0.63, along with a revenue increase of 6.0% year-over-year.
• The company declared a quarterly dividend of $0.52 per share with a yield of 5.1%, highlighting its solid dividend policy despite a payout ratio of 126.83%.

Truist Financial Corp reduced its holdings in CubeSmart (NYSE:CUBE - Free Report) by 42.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 390,746 shares of the real estate investment trust's stock after selling 289,249 shares during the quarter. Truist Financial Corp owned approximately 0.17% of CubeSmart worth $16,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of CubeSmart by 115.2% in the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 501 shares during the last quarter. Covestor Ltd lifted its holdings in CubeSmart by 22.8% during the 1st quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after buying an additional 292 shares during the period. Signaturefd LLC lifted its holdings in CubeSmart by 82.8% during the 2nd quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust's stock worth $71,000 after buying an additional 761 shares during the period. Farther Finance Advisors LLC lifted its holdings in CubeSmart by 446.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock worth $76,000 after buying an additional 1,468 shares during the period. Finally, UMB Bank n.a. raised its position in shares of CubeSmart by 103.5% during the first quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock worth $82,000 after acquiring an additional 975 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Up 1.2%

CubeSmart stock opened at $40.70 on Friday. 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 has a 1-year low of $34.24 and a 1-year high of $51.85. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 8.96 and a beta of 0.96. The firm's fifty day moving average price is $40.30 and its two-hundred day moving average price is $41.09.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter 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. On average, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.1%. CubeSmart's payout ratio is 126.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup reduced their price objective on shares of CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, August 25th. Royal Bank Of Canada decreased their price target on CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Evercore ISI boosted their price objective on CubeSmart from $48.00 to $49.00 and gave the company an "outperform" rating in a research note on Friday. Wall Street Zen upgraded CubeSmart from a "sell" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, Barclays decreased their target price 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. Seven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, CubeSmart has an average rating of "Hold" and a consensus price target of $46.06.

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.

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