Norges Bank Invests $395.97 Million in CubeSmart $CUBE

Norges Bank bought a new position in CubeSmart (NYSE:CUBE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,983,859 shares of the real estate investment trust’s stock, valued at approximately $395,968,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in shares of CubeSmart by 1.6% in the second quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock worth $731,000 after buying an additional 265 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of CubeSmart by 1.8% in the third quarter. Crossmark Global Holdings Inc. now owns 16,357 shares of the real estate investment trust’s stock worth $665,000 after buying an additional 282 shares in the last quarter. Huntington National Bank lifted its stake in shares of CubeSmart by 43.3% in the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 295 shares in the last quarter. Pacific Sun Financial Corp lifted its stake in shares of CubeSmart by 6.6% in the third quarter. Pacific Sun Financial Corp now owns 5,022 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 310 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of CubeSmart by 16.9% in the fourth quarter. Fifth Third Bancorp now owns 2,319 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 335 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Down 1.8%

Shares of CUBE stock opened at $39.28 on Tuesday. CubeSmart has a 12 month low of $35.09 and a 12 month high of $44.13. The stock has a market cap of $8.89 billion, a P/E ratio of 27.66, a P/E/G ratio of 6.91 and a beta of 1.09. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.29. The company has a 50 day simple moving average of $38.87 and a two-hundred day simple moving average of $38.13.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $281.93 million during the quarter, compared to analysts’ expectations of $275.25 million. CubeSmart had a net margin of 28.93% and a return on equity of 11.84%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. On average, research analysts expect that CubeSmart will post 2.58 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.4%. CubeSmart’s dividend payout ratio is 149.30%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CUBE shares. BNP Paribas Exane upgraded shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 target price on the stock in a research note on Wednesday, March 18th. Wells Fargo & Company boosted their price objective on shares of CubeSmart from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday. Wall Street Zen raised shares of CubeSmart from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group boosted their price objective on shares of CubeSmart from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Finally, Barclays boosted their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Five research 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 presently has a consensus rating of “Hold” and an average price target of $43.42.

CubeSmart Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.