APG Asset Management US Inc. Makes New Investment in CubeSmart $CUBE

Key Points

• APG Asset Management US Inc. has acquired 69,044 shares of CubeSmart (NYSE:CUBE) valued at approximately $2.9 million as part of its recent investment strategy.
• Several institutional investors, including T. Rowe Price Investment Management Inc., have significantly increased their holdings in CubeSmart, indicating strong confidence in the REIT's potential.
• CubeSmart recently posted strong quarterly results, exceeding earnings expectations with $0.65 EPS and announcing a quarterly dividend of $0.52 per share which has a yield of 5.1%.

APG Asset Management US Inc. acquired a new position in CubeSmart (NYSE:CUBE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 69,044 shares of the real estate investment trust's stock, valued at approximately $2,902,000.

A number of other institutional investors have also modified their holdings of the stock. 1832 Asset Management L.P. increased its position in shares of CubeSmart by 35.2% during the first quarter. 1832 Asset Management L.P. now owns 13,702 shares of the real estate investment trust's stock worth $585,000 after acquiring an additional 3,564 shares during the period. Norinchukin Bank The increased its position in shares of CubeSmart by 4.5% during the first quarter. Norinchukin Bank The now owns 10,441 shares of the real estate investment trust's stock worth $446,000 after acquiring an additional 445 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in CubeSmart by 8.6% during the first 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 during the period. T. Rowe Price Investment Management Inc. increased its holdings in CubeSmart by 28.8% during the first 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 during the period. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in CubeSmart in the first quarter worth $2,006,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CUBE shares. Mizuho lifted their price objective on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. BNP Paribas Exane initiated coverage on shares of CubeSmart in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price objective for the company. BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a research report on Tuesday, June 24th. Scotiabank upped their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Finally, Truist Financial upped their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $46.93.

CubeSmart Stock Up 2.6%

Shares of NYSE CUBE opened at $41.07 on Friday. CubeSmart has a 12-month low of $34.24 and a 12-month high of $55.14. The stock has a market cap of $9.37 billion, a PE ratio of 25.04, a P/E/G ratio of 8.91 and a beta of 0.94. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average of $41.27 and a 200 day moving average of $41.38.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings results 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. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The business had revenue of $282.30 million during the quarter, compared to analysts' expectations of $275.71 million. During the same quarter in the prior year, the company posted $0.64 EPS. The business's revenue for the quarter 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. As a group, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.1%. CubeSmart's dividend payout ratio is 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.

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