CubeSmart $CUBE Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of CubeSmart (NYSE:CUBE) by 0.5% in the second quarter, Holdings Channel reports. The fund owned 5,092,379 shares of the real estate investment trust’s stock after purchasing an additional 27,278 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CubeSmart were worth $216,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in CubeSmart by 115.2% during the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 501 shares during the period. IFP Advisors Inc raised its stake in shares of CubeSmart by 737.2% during the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 1,349 shares in the last quarter. Covestor Ltd raised its stake in shares of 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 in the last quarter. Signaturefd LLC raised its stake in shares of 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 in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of 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 in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance

NYSE CUBE opened at $39.34 on Monday. CubeSmart has a 1-year low of $34.24 and a 1-year high of $50.86. The company has a market capitalization of $8.97 billion, a P/E ratio of 23.99, a PEG ratio of 8.75 and a beta of 0.96. The business has a 50 day moving average price of $40.23 and a 200 day moving average price of $41.02. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. During the same period last year, the business posted $0.64 EPS. CubeSmart’s quarterly 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. Sell-side analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart’s dividend payout ratio (DPR) is presently 126.83%.

Wall Street Analysts Forecast Growth

CUBE has been the subject of a number of analyst reports. UBS Group cut their target price on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. BNP Paribas raised CubeSmart to a “hold” rating in a research note on Tuesday, June 24th. Barclays cut 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. Royal Bank Of Canada cut their target price on CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Finally, Citigroup cut their target price on CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.