AQR Capital Management LLC Boosts Stock Holdings in CubeSmart $CUBE

AQR Capital Management LLC raised its holdings in CubeSmart (NYSE:CUBE) by 36.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,484 shares of the real estate investment trust’s stock after purchasing an additional 45,985 shares during the quarter. AQR Capital Management LLC owned 0.08% of CubeSmart worth $7,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Amundi boosted its stake in shares of CubeSmart by 5.3% in the first quarter. Amundi now owns 128,247 shares of the real estate investment trust’s stock valued at $5,270,000 after buying an additional 6,506 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in CubeSmart by 37.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 3,544,379 shares of the real estate investment trust’s stock valued at $151,380,000 after acquiring an additional 969,738 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in CubeSmart by 25.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 125,000 shares of the real estate investment trust’s stock valued at $5,339,000 after buying an additional 25,000 shares in the last quarter. Royal Bank of Canada increased its position in CubeSmart by 1.3% during the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after purchasing an additional 2,284 shares in the last quarter. Finally, Caption Management LLC purchased a new position in shares of CubeSmart during the first quarter valued at approximately $554,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Up 2.2%

CUBE opened at $41.63 on Friday. 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 has a 12-month low of $34.24 and a 12-month high of $55.14. The firm’s fifty day moving average price is $40.73 and its 200 day moving average price is $41.27. The stock has a market capitalization of $9.49 billion, a PE ratio of 25.38, a P/E/G ratio of 9.06 and a beta of 0.94.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 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 return on equity of 13.12% and a net margin of 35.44%.The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. 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, research analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.0%. CubeSmart’s dividend payout ratio is 126.83%.

Analyst Upgrades and Downgrades

Several research firms have commented on CUBE. Mizuho lifted their target price on shares of CubeSmart from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. Royal Bank Of Canada dropped their price target on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. Evercore ISI dropped their price target on CubeSmart from $48.00 to $47.00 and set an “in-line” rating for the company in a research note on Monday, August 4th. Truist Financial lifted their price target on shares of CubeSmart from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, May 19th. Finally, BNP Paribas raised shares of CubeSmart to a “hold” rating in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, CubeSmart currently has a consensus rating of “Hold” and an average target price of $46.69.

CubeSmart 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.