Readystate Asset Management LP Makes New $2.99 Million Investment in CubeSmart $CUBE

Readystate Asset Management LP purchased a new stake in CubeSmart (NYSE:CUBE) during the second quarter, Holdings Channel reports. The institutional investor purchased 75,162 shares of the real estate investment trust’s stock, valued at approximately $2,989,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. HB Wealth Management LLC acquired a new position in shares of CubeSmart during the second quarter worth about $824,000. AlphaGrep UK Ltd purchased a new stake in shares of CubeSmart during the second quarter worth approximately $217,000. Syon Capital LLC raised its holdings in CubeSmart by 28.4% in the second quarter. Syon Capital LLC now owns 13,129 shares of the real estate investment trust’s stock valued at $522,000 after acquiring an additional 2,904 shares in the last quarter. NEOS Investment Management LLC raised its holdings in CubeSmart by 13.2% in the second quarter. NEOS Investment Management LLC now owns 48,673 shares of the real estate investment trust’s stock valued at $1,910,000 after acquiring an additional 5,690 shares in the last quarter. Finally, Nykredit A S purchased a new position in CubeSmart in the second quarter worth approximately $326,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays upgraded shares of CubeSmart from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $46.00 in a report on Friday, July 10th. Mizuho decreased their price objective on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, September 2nd. Truist Financial boosted their target price on shares of CubeSmart from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Raymond James Financial assumed coverage on CubeSmart in a report on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, Evercore set a $47.00 price target on CubeSmart in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, CubeSmart currently has an average rating of “Hold” and a consensus price target of $43.45.

CubeSmart Trading Up 0.0%

Shares of CubeSmart stock opened at $39.51 on Monday. The company has a fifty day simple moving average of $40.96 and a 200-day simple moving average of $39.98. CubeSmart has a 12-month low of $35.09 and a 12-month high of $43.26. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 6.50 and a beta of 1.05.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.25). CubeSmart had a return on equity of 12.35% and a net margin of 29.41%.The company had revenue of $286.49 million for the quarter, compared to analyst estimates of $281.12 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. CubeSmart’s revenue was up 1.5% compared to the same quarter last year. CubeSmart has set its Q3 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.600 EPS. On average, equities analysts forecast that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Thursday, October 1st. CubeSmart’s dividend payout ratio (DPR) is currently 146.21%.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.