BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in CubeSmart $CUBE

Key Points

• BNP Paribas Asset Management increased its stake in CubeSmart (NYSE:CUBE) by 44% during the first quarter, bringing its holdings to $933,000 after acquiring an additional 6,677 shares.
• CubeSmart reported earnings of $0.65 per share for the last quarter, exceeding estimates, with a revenue increase of 6.0% year-over-year.
• The company announced a quarterly dividend of $0.52 per share, resulting in an annual yield of 5.3%, with the ex-dividend date set for October 1st.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in CubeSmart (NYSE:CUBE - Free Report) by 44.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,864 shares of the real estate investment trust's stock after buying an additional 6,677 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in CubeSmart were worth $933,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CUBE. Sumitomo Mitsui Trust Group Inc. grew its holdings in CubeSmart by 140.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 808,440 shares of the real estate investment trust's stock worth $34,528,000 after acquiring an additional 472,596 shares during the period. Janney Montgomery Scott LLC acquired a new stake in CubeSmart during the first quarter worth approximately $821,000. Allspring Global Investments Holdings LLC increased its holdings 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 purchasing an additional 72,513 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CubeSmart by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,183,271 shares of the real estate investment trust's stock worth $135,958,000 after purchasing an additional 58,564 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of CubeSmart by 4,739.3% in the 1st quarter. GAMMA Investing LLC now owns 93,108 shares of the real estate investment trust's stock valued at $3,977,000 after acquiring an additional 91,184 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

CubeSmart Stock Up 2.6%

Shares of NYSE:CUBE traded up $1.05 during midday trading on Friday, hitting $41.07. 1,223,453 shares of the company's stock were exchanged, compared to its average volume of 1,770,445. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. The company has a market cap of $9.37 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 8.91 and a beta of 0.94. The stock has a 50 day moving average price of $41.27 and a 200-day moving average price of $41.38.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, October 1st. CubeSmart's dividend payout ratio is presently 126.83%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $48.00 to $49.00 in a research report on Friday, June 20th. Wolfe Research began coverage on CubeSmart in a research note on Monday, May 19th. They issued an "outperform" rating and a $48.00 target price for the company. Scotiabank boosted their target price on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, Royal Bank Of Canada cut their price target on CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, CubeSmart presently has a consensus rating of "Hold" and an average target price of $46.93.

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.