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

KLP Kapitalforvaltning AS trimmed its position in shares of CubeSmart (NYSE:CUBE) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CUBE. Farther Finance Advisors LLC boosted its stake in shares of CubeSmart by 446.2% during the first quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 1,468 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of CubeSmart during the first quarter valued at about $868,000. Exchange Traded Concepts LLC boosted its stake in shares of CubeSmart by 588.9% during the first quarter. Exchange Traded Concepts LLC now owns 21,722 shares of the real estate investment trust’s stock valued at $928,000 after purchasing an additional 18,569 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of CubeSmart during the first quarter valued at about $821,000. Finally, QRG Capital Management Inc. boosted its stake in shares of CubeSmart by 9.8% during the first quarter. QRG Capital Management Inc. now owns 10,761 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 963 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CUBE has been the topic of a number of recent research reports. Evercore ISI lifted their price target on CubeSmart from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. BNP Paribas upgraded CubeSmart to a “hold” rating in a research report on Tuesday, June 24th. UBS Group lowered their price objective on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Citigroup lowered their price objective on CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CubeSmart has an average rating of “Hold” and an average target price of $46.06.

CubeSmart Price Performance

Shares of CUBE opened at $39.34 on Monday. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 8.75 and a beta of 0.96. The business has a 50-day moving average of $40.23 and a 200-day moving average of $41.02. 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 1 year low of $34.24 and a 1 year high of $50.86.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company 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. As a group, equities research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, October 1st. CubeSmart’s payout ratio is presently 126.83%.

CubeSmart 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.