WCM Investment Management LLC Sells 2,038 Shares of CubeSmart $CUBE

WCM Investment Management LLC decreased its position in shares of CubeSmart (NYSE:CUBE) by 2.8% in the 2nd quarter, Holdings Channel reports. The firm owned 70,771 shares of the real estate investment trust’s stock after selling 2,038 shares during the quarter. WCM Investment Management LLC’s holdings in CubeSmart were worth $2,999,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CUBE. T. Rowe Price Investment Management Inc. raised its holdings 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 worth $370,049,000 after purchasing an additional 1,937,055 shares during the last quarter. Millennium Management LLC raised its holdings in CubeSmart by 129.6% during the 1st quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust’s stock worth $96,585,000 after purchasing an additional 1,276,340 shares during the last quarter. Nuveen LLC bought a new position in CubeSmart during the 1st quarter worth approximately $53,980,000. JPMorgan Chase & Co. raised its holdings 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 worth $237,519,000 after purchasing an additional 1,261,746 shares during the last quarter. Finally, Long Pond Capital LP bought a new position in CubeSmart during the 1st quarter worth approximately $47,358,000. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of CUBE stock opened at $41.89 on Friday. The firm has a market capitalization of $9.55 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 9.14 and a beta of 0.96. The firm has a fifty day simple moving average of $40.35 and a two-hundred day simple moving average of $41.00. 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 has a 12 month low of $34.24 and a 12 month high of $50.69.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. CubeSmart’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business 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. Analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Wednesday, October 1st. CubeSmart’s payout ratio is currently 126.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CUBE shares. BNP Paribas upgraded shares of CubeSmart to a “hold” rating in a research note on Tuesday, June 24th. Barclays lowered their price objective on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. Evercore ISI lifted their price objective on shares of CubeSmart from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. BNP Paribas Exane started coverage on shares of CubeSmart in a research note on Tuesday, June 24th. They issued a “neutral” rating and a $46.00 price objective for the company. Finally, UBS Group lowered their price objective on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus price target 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.