Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in CubeSmart $CUBE

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of CubeSmart (NYSE:CUBE) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,742 shares of the real estate investment trust’s stock after selling 1,367 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CubeSmart were worth $202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in CubeSmart by 19.9% during the first quarter. HighTower Advisors LLC now owns 37,160 shares of the real estate investment trust’s stock valued at $1,587,000 after purchasing an additional 6,179 shares during the period. MetLife Investment Management LLC lifted its position in CubeSmart by 63.7% during the first quarter. MetLife Investment Management LLC now owns 219,496 shares of the real estate investment trust’s stock valued at $9,375,000 after purchasing an additional 85,414 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in CubeSmart by 140.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 808,440 shares of the real estate investment trust’s stock valued at $34,528,000 after purchasing an additional 472,596 shares during the period. Janney Montgomery Scott LLC bought a new position in CubeSmart in the first quarter worth approximately $821,000. Finally, Allspring Global Investments Holdings LLC raised its position in CubeSmart by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust’s stock worth $212,886,000 after acquiring an additional 72,513 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of NYSE:CUBE opened at $39.34 on Friday. CubeSmart has a 52 week low of $34.24 and a 52 week high of $50.86. 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 firm has a fifty day simple moving average of $40.23 and a two-hundred day simple moving average of $41.02. The stock has a market capitalization of $8.97 billion, a P/E ratio of 23.99, a PEG ratio of 8.76 and a beta of 0.96.

CubeSmart (NYSE:CUBE) last released 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. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The firm had revenue of $282.30 million during the quarter, compared to analysts’ expectations of $275.71 million. During the same period in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid 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 5.3%. CubeSmart’s payout ratio is currently 126.83%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CUBE shares. Royal Bank Of Canada decreased their price target on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, August 4th. BNP Paribas Exane assumed coverage on shares of CubeSmart in a research report on Tuesday, June 24th. They set a “neutral” rating and a $46.00 price objective on the stock. Citigroup decreased their price objective on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, August 25th. BNP Paribas upgraded shares of CubeSmart to a “hold” rating in a research report on Tuesday, June 24th. Finally, UBS Group decreased their price objective on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.