Wellington Management Group LLP Has $1.27 Million Stock Holdings in CubeSmart $CUBE

Key Points

• Wellington Management Group LLP significantly reduced its stake in CubeSmart by 96.3%, selling 780,108 shares and leaving them with just 29,725 shares worth approximately $1.27 million.
• CubeSmart reported stronger-than-expected earnings in its last quarter, with $0.65 EPS surpassing analyst predictions, and a revenue of $282.3 million.
• The company has announced a quarterly dividend of $0.52 per share, resulting in a 5.1% annualized dividend yield, although its payout ratio stands at a high 126.83%.

Wellington Management Group LLP lowered its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 96.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,725 shares of the real estate investment trust's stock after selling 780,108 shares during the period. Wellington Management Group LLP's holdings in CubeSmart were worth $1,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northern Trust Corp grew its holdings in 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 worth $167,463,000 after acquiring an additional 162,068 shares during the period. Algert Global LLC acquired a new stake in CubeSmart during the first quarter valued at approximately $3,908,000. Nations Financial Group Inc. IA ADV lifted its stake in CubeSmart by 10.3% during the first quarter. Nations Financial Group Inc. IA ADV now owns 7,550 shares of the real estate investment trust's stock valued at $322,000 after purchasing an additional 702 shares during the last quarter. American Century Companies Inc. boosted its holdings in CubeSmart by 1.6% during the first quarter. American Century Companies Inc. now owns 561,186 shares of the real estate investment trust's stock worth $23,968,000 after buying an additional 9,060 shares in the last quarter. Finally, Aberdeen Group plc grew its position in CubeSmart by 5.1% in the first quarter. Aberdeen Group plc now owns 74,540 shares of the real estate investment trust's stock worth $3,184,000 after buying an additional 3,618 shares during the last quarter. Institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Mizuho increased their price objective on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Bank of America raised CubeSmart from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $50.00 in a research report on Tuesday, May 13th. Truist Financial upped their target price on CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a report on Monday, May 19th. Scotiabank lifted their price target on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Finally, BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $48.00 to $49.00 in a research note on Friday, June 20th. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, CubeSmart currently has a consensus rating of "Hold" and an average price target of $46.69.

CubeSmart Stock Down 0.6%

CUBE stock traded down $0.26 during midday trading on Thursday, reaching $40.58. The company had a trading volume of 414,079 shares, compared to its average volume of 1,771,907. The company has a 50 day moving average of $40.92 and a two-hundred day moving average of $41.30. The company has a market capitalization of $9.25 billion, a P/E ratio of 24.74, a PEG ratio of 9.11 and a beta of 0.94. 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 posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The business had revenue of $282.30 million for the quarter, compared to analysts' expectations of $275.71 million. During the same period in the previous year, the company posted $0.64 EPS. CubeSmart's 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. On average, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart's dividend payout ratio is presently 126.83%.

About CubeSmart

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.