KLP Kapitalforvaltning AS Has $2.01 Million Stock Holdings in CubeSmart $CUBE

KLP Kapitalforvaltning AS trimmed its position in CubeSmart (NYSE:CUBE) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,400 shares of the real estate investment trust’s stock after selling 900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in CubeSmart were worth $2,014,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its holdings in CubeSmart by 28.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust’s stock valued at $370,049,000 after buying an additional 1,937,055 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in CubeSmart by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust’s stock valued at $291,922,000 after buying an additional 543,158 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CubeSmart by 29.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust’s stock valued at $237,519,000 after buying an additional 1,261,746 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CubeSmart by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust’s stock valued at $212,886,000 after buying an additional 72,513 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in CubeSmart by 4.3% in the 1st quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock valued at $167,463,000 after buying an additional 162,068 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CUBE shares. Citigroup decreased their price objective on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. UBS Group reduced their target price on CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. BMO Capital Markets raised CubeSmart from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $49.00 in a report on Friday, June 20th. Wall Street Zen raised CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday, September 21st. Finally, BNP Paribas Exane initiated coverage on CubeSmart in a report on Tuesday, June 24th. They set a “neutral” rating and a $46.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.06.

CubeSmart Stock Performance

CUBE opened at $39.34 on Monday. The business’s fifty day moving average is $40.23 and its 200-day moving average is $41.02. The firm has a market cap of $8.97 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 8.75 and a beta of 0.96. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. CubeSmart has a 52-week low of $34.24 and a 52-week high of $50.86.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $282.30 million for the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.CubeSmart’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $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. Sell-side analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.3%. CubeSmart’s dividend payout ratio (DPR) is 126.83%.

About CubeSmart

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.