Norges Bank Acquires Shares of 10,983,859 CubeSmart $CUBE

Norges Bank acquired a new stake in CubeSmart (NYSE:CUBE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,983,859 shares of the real estate investment trust’s stock, valued at approximately $395,968,000. Norges Bank owned 4.82% of CubeSmart at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. purchased a new position in shares of CubeSmart in the fourth quarter valued at about $280,000. Geode Capital Management LLC increased its position in shares of CubeSmart by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,714,128 shares of the real estate investment trust’s stock valued at $169,975,000 after acquiring an additional 52,207 shares during the period. AlphaQuest LLC increased its position in shares of CubeSmart by 168.5% in the fourth quarter. AlphaQuest LLC now owns 111,496 shares of the real estate investment trust’s stock valued at $4,019,000 after acquiring an additional 69,976 shares during the period. Allstate Corp increased its position in shares of CubeSmart by 36.7% in the fourth quarter. Allstate Corp now owns 13,358 shares of the real estate investment trust’s stock valued at $482,000 after acquiring an additional 3,589 shares during the period. Finally, Legal & General Group Plc increased its position in shares of CubeSmart by 16.3% in the fourth quarter. Legal & General Group Plc now owns 1,381,625 shares of the real estate investment trust’s stock valued at $49,808,000 after acquiring an additional 193,467 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

CUBE has been the topic of a number of analyst reports. Mizuho boosted their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Wells Fargo & Company boosted their price target on shares of CubeSmart from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group boosted their price target on shares of CubeSmart from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Royal Bank Of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of CubeSmart in a research report on Monday, May 4th. Finally, BNP Paribas Exane upgraded shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Wednesday, March 18th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, CubeSmart has an average rating of “Hold” and an average target price of $43.42.

CubeSmart Trading Down 1.8%

NYSE:CUBE opened at $39.28 on Tuesday. CubeSmart has a one year low of $35.09 and a one year high of $44.13. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.04 and a quick ratio of 0.04. The company’s 50-day simple moving average is $38.87 and its 200 day simple moving average is $38.13. The firm has a market capitalization of $8.89 billion, a P/E ratio of 27.66, a PEG ratio of 6.91 and a beta of 1.09.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. CubeSmart had a net margin of 28.93% and a return on equity of 11.84%. The business had revenue of $281.93 million for the quarter, compared to analyst estimates of $275.25 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. CubeSmart’s quarterly revenue was up 3.3% on a year-over-year basis. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. As a group, analysts forecast that CubeSmart will post 2.58 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.12 annualized dividend and a yield of 5.4%. CubeSmart’s payout ratio is presently 149.30%.

CubeSmart Company Profile

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.