CubeSmart $CUBE Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management has increased its stake in CubeSmart by 19.2%, owning approximately $76.26 million worth of shares after purchasing an additional 287,792 shares in the first quarter.
• CubeSmart's recent quarterly earnings showed an EPS of $0.65, surpassing the consensus estimate of $0.63, with revenues rising 6% year-over-year.
• The company declared a quarterly dividend of $0.52 per share, contributing to an annualized yield of 5.0%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CubeSmart (NYSE:CUBE - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,785,460 shares of the real estate investment trust's stock after buying an additional 287,792 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.78% of CubeSmart worth $76,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its stake in CubeSmart by 28.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust's stock worth $370,049,000 after purchasing an additional 1,937,055 shares during the period. Millennium Management LLC increased its stake in CubeSmart by 129.6% during the first quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust's stock worth $96,585,000 after purchasing an additional 1,276,340 shares during the period. Nuveen LLC purchased a new stake in CubeSmart during the first quarter worth about $53,980,000. JPMorgan Chase & Co. increased its stake in 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 worth $237,519,000 after purchasing an additional 1,261,746 shares during the period. Finally, Long Pond Capital LP purchased a new stake in CubeSmart during the first quarter worth about $47,358,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CUBE. Wall Street Zen lowered shares of CubeSmart from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Mizuho boosted their price target on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $48.00 to $49.00 in a research note on Friday, June 20th. UBS Group cut their target price on shares of CubeSmart from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Evercore ISI upgraded shares of CubeSmart from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $47.00 to $48.00 in a research note on Monday. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $46.00.

CubeSmart Stock Down 1.0%

CUBE traded down $0.41 on Thursday, reaching $40.81. The company's stock had a trading volume of 1,309,576 shares, compared to its average volume of 1,605,864. The stock has a 50 day moving average of $40.57 and a two-hundred day moving average of $41.23. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 24.88, a P/E/G ratio of 9.18 and a beta of 0.94. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $54.67.

CubeSmart (NYSE:CUBE - Get Free Report) last announced 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 firm 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 firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $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, analysts forecast 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 issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart's dividend payout ratio is presently 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.