Van Lanschot Kempen Investment Management N.V. Takes $2.01 Million Position in CubeSmart $CUBE

Key Points

• Van Lanschot Kempen Investment Management N.V. has invested approximately $2.01 million in CubeSmart, acquiring 46,970 shares of the real estate investment trust in the first quarter of 2023.
• Several institutional investors have notably increased their positions in CubeSmart, with Allworth Financial LP raising its stake by 115.2% during the same period.
• The company also announced a quarterly dividend of $0.52 per share, yielding 5.2%, set to be paid on October 15th to investors of record on October 1st.

Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 46,970 shares of the real estate investment trust's stock, valued at approximately $2,006,000.

Several other large investors have also bought and sold shares of CUBE. Hsbc Holdings PLC grew its holdings in shares of CubeSmart by 72.0% during the 1st quarter. Hsbc Holdings PLC now owns 620,214 shares of the real estate investment trust's stock worth $26,369,000 after acquiring an additional 259,722 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of CubeSmart by 44.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 21,864 shares of the real estate investment trust's stock valued at $933,000 after purchasing an additional 6,677 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of CubeSmart by 2,555.9% during the first quarter. Quantbot Technologies LP now owns 35,722 shares of the real estate investment trust's stock valued at $1,526,000 after purchasing an additional 34,377 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of CubeSmart by 4.3% during the first quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust's stock valued at $167,463,000 after purchasing an additional 162,068 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of CubeSmart during the first quarter valued at approximately $3,908,000. 97.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

CUBE has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a report on Monday, May 19th. BNP Paribas Exane initiated coverage on shares of CubeSmart in a report on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price target on the stock. Mizuho increased their price target on shares of CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Finally, Scotiabank boosted their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $46.93.

CubeSmart Stock Performance

CubeSmart stock traded up $1.05 during midday trading on Friday, hitting $41.07. The stock had a trading volume of 1,223,453 shares, compared to its average volume of 1,770,445. The firm's fifty day moving average is $41.27 and its two-hundred day moving average is $41.38. The company has a market capitalization of $9.37 billion, a PE ratio of 25.04, a P/E/G ratio of 9.15 and a beta of 0.94. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $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, research analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

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