Perpetual Ltd Takes $626,000 Position in CubeSmart $CUBE

Perpetual Ltd bought a new stake in CubeSmart (NYSE:CUBE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,738 shares of the real estate investment trust’s stock, valued at approximately $626,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its stake in shares of CubeSmart by 28.8% in 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 acquiring an additional 1,937,055 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of CubeSmart by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust’s stock valued at $291,922,000 after acquiring an additional 543,158 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CubeSmart by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust’s stock valued at $212,886,000 after acquiring an additional 72,513 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of CubeSmart by 4.3% in the 1st quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock valued at $167,463,000 after acquiring an additional 162,068 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several research analyst reports. Royal Bank Of Canada dropped their price objective on CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, August 4th. UBS Group dropped their price objective on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. BMO Capital Markets upgraded CubeSmart from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $49.00 in a report on Friday, June 20th. Mizuho increased their price objective on CubeSmart from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.00.

CubeSmart Stock Performance

CubeSmart stock opened at $40.21 on Monday. The company has a market capitalization of $9.17 billion, a P/E ratio of 24.52, a PEG ratio of 8.95 and a beta of 0.94. CubeSmart has a twelve month low of $34.24 and a twelve month high of $54.67. 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 stock’s 50 day moving average is $40.52 and its 200 day moving average is $41.20.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data 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. The business had revenue of $282.30 million for the quarter, compared to analysts’ expectations 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% 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 research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.2%. CubeSmart’s dividend payout ratio is 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.