Wellington Management Group LLP Sells 780,108 Shares of CubeSmart $CUBE

Wellington Management Group LLP cut its holdings in shares of CubeSmart (NYSE:CUBE) by 96.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,725 shares of the real estate investment trust’s stock after selling 780,108 shares during the period. Wellington Management Group LLP’s holdings in CubeSmart were worth $1,270,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Allworth Financial LP increased its position in shares of CubeSmart by 115.2% during the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 501 shares in the last quarter. Covestor Ltd grew its holdings in shares of CubeSmart by 22.8% during the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 292 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of CubeSmart by 446.2% during the first quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 1,468 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of CubeSmart by 103.5% during the first quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 975 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of CubeSmart by 23.5% during the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 371 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Up 0.7%

CUBE stock opened at $40.92 on Monday. The firm has a 50-day moving average of $41.06 and a two-hundred day moving average of $41.31. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 9.11 and a beta of 0.94. 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 $55.14.

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

CubeSmart Announces Dividend

The business 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.1%. CubeSmart’s dividend payout ratio (DPR) is presently 126.83%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of CubeSmart from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, May 28th. BNP Paribas raised shares of CubeSmart to a “hold” rating in a report on Tuesday, June 24th. Royal Bank Of Canada lowered their target price on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, August 4th. Citigroup lowered their target price on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, August 25th. Finally, Evercore ISI lowered their target price on shares of CubeSmart from $48.00 to $47.00 and set an “in-line” rating on the stock in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.69.

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.