Zimmer Partners LP Invests $2.87 Million in CubeSmart $CUBE

Key Points

• Zimmer Partners LP purchased a new position in CubeSmart, acquiring 67,200 shares valued at approximately $2.87 million.
• CubeSmart reported a quarterly earnings per share (EPS) of $0.65, exceeding the consensus estimate of $0.63, with quarterly revenue increasing by 6% year-over-year.
• The company declared a quarterly dividend of $0.52, reflecting a 5.1% yield and a high dividend payout ratio of 126.83%.

Zimmer Partners LP acquired a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 67,200 shares of the real estate investment trust's stock, valued at approximately $2,870,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CUBE. T. Rowe Price Investment Management Inc. raised its stake in shares of CubeSmart by 28.8% during the 1st 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 in the last quarter. Millennium Management LLC raised its stake in CubeSmart by 129.6% in the 1st quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust's stock valued at $96,585,000 after acquiring an additional 1,276,340 shares during the period. Nuveen LLC bought a new stake in CubeSmart in the 1st quarter valued at $53,980,000. JPMorgan Chase & Co. raised its stake in CubeSmart by 29.3% in the 1st 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 during the period. Finally, Long Pond Capital LP bought a new stake in CubeSmart in the 1st quarter valued at $47,358,000. Institutional investors own 97.61% of the company's stock.

CubeSmart Price Performance

Shares of CUBE traded down $0.40 during trading hours on Friday, hitting $41.23. 1,038,601 shares of the company were exchanged, compared to its average volume of 1,505,436. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 9.27 and a beta of 0.94. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. 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 firm's fifty day moving average is $40.69 and its 200 day moving average is $41.25.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) 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 return on equity of 13.12% and a net margin of 35.44%.CubeSmart's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $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 analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Wednesday, October 1st. CubeSmart's payout ratio is currently 126.83%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CUBE shares. Truist Financial increased their price target on CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Wolfe Research started coverage on CubeSmart in a research note on Monday, May 19th. They issued an "outperform" rating and a $48.00 price target on the stock. Evercore ISI dropped their price target on CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a research note on Monday, August 4th. 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 on the stock. Finally, Barclays lowered their price objective on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of "Hold" and an average target price of $46.20.

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.