Belpointe Asset Management LLC Trims Stake in CubeSmart $CUBE

Belpointe Asset Management LLC reduced its position in shares of CubeSmart (NYSE:CUBE) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,991 shares of the real estate investment trust’s stock after selling 280 shares during the period. Belpointe Asset Management LLC’s holdings in CubeSmart were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CubeSmart by 19.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,785,460 shares of the real estate investment trust’s stock valued at $76,257,000 after purchasing an additional 287,792 shares in the last quarter. Zimmer Partners LP purchased a new position in shares of CubeSmart during the 1st quarter valued at $2,870,000. Caxton Associates LLP bought a new stake in shares of CubeSmart during the 1st quarter worth $270,000. Goldman Sachs Group Inc. lifted its holdings in shares of CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after acquiring an additional 19,476 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of CubeSmart during the 1st quarter worth $84,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CUBE has been the subject of a number of research analyst reports. Mizuho lifted their price objective on shares of CubeSmart from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, May 28th. Royal Bank Of Canada dropped their price objective on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, August 4th. Barclays dropped their price objective on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Evercore ISI raised shares of CubeSmart from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $47.00 to $48.00 in a report on Monday. Finally, Wolfe Research initiated coverage on shares of CubeSmart in a report on Monday, May 19th. They set an “outperform” rating and a $48.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and a consensus price target of $46.27.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $40.84 on Tuesday. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. The company’s 50-day moving average is $40.65 and its 200 day moving average is $41.24. The stock has a market capitalization of $9.31 billion, a P/E ratio of 24.90, a P/E/G ratio of 9.17 and a beta of 0.94.

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, beating the consensus estimate of $0.63 by $0.02. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The company had revenue of $282.30 million for the quarter, compared to analysts’ expectations of $275.71 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. 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. On average, sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The business also recently declared 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 is Wednesday, October 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.1%. CubeSmart’s payout ratio is currently 126.83%.

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.