CubeSmart $CUBE Position Cut by AlphaQuest LLC

AlphaQuest LLC trimmed its holdings in CubeSmart (NYSE:CUBE) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,604 shares of the real estate investment trust’s stock after selling 3,120 shares during the quarter. AlphaQuest LLC’s holdings in CubeSmart were worth $1,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its stake in 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 valued at $370,049,000 after purchasing an additional 1,937,055 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in CubeSmart by 219.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust’s stock valued at $110,323,000 after purchasing an additional 1,768,626 shares in the last quarter. Nuveen LLC bought a new position in CubeSmart during the 1st quarter valued at $53,980,000. JPMorgan Chase & Co. boosted its stake in CubeSmart by 29.3% during 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 purchasing an additional 1,261,746 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in CubeSmart by 46.6% during the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust’s stock valued at $161,067,000 after purchasing an additional 1,195,246 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $41.07 on Friday. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The stock has a fifty day moving average of $41.27 and a 200-day moving average of $41.38. The company has a market capitalization of $9.37 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 8.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (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 company had revenue of $282.30 million for the quarter, compared to the consensus estimate of $275.71 million. During the same period in the previous year, the business earned $0.64 EPS. The company’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. As a group, equities analysts anticipate that CubeSmart will post 2.64 EPS 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 paid a dividend of $0.52 per share. 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 payout ratio is 126.83%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CUBE. Wolfe Research began coverage on CubeSmart in a research note on Monday, May 19th. They set an “outperform” rating and a $48.00 price target for the company. BNP Paribas Exane began coverage on CubeSmart in a research note on Tuesday, June 24th. They set a “neutral” rating and a $46.00 price target for the company. BNP Paribas raised CubeSmart to a “hold” rating in a research note on Tuesday, June 24th. 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. Finally, Barclays cut their price objective on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.93.

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.