Kempen Capital Management N.V. Raises Position in CubeSmart (CUBE)

Kempen Capital Management N.V. boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 962.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,182,549 shares of the real estate investment trust’s stock after acquiring an additional 1,071,232 shares during the period. CubeSmart accounts for about 2.7% of Kempen Capital Management N.V.’s investment portfolio, making the stock its 2nd largest holding. Kempen Capital Management N.V. owned about 0.66% of CubeSmart worth $28,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CUBE. BlackRock Inc. lifted its position in CubeSmart by 4,480.2% during the 1st quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock valued at $314,886,000 after acquiring an additional 11,864,899 shares during the period. OppenheimerFunds Inc. lifted its position in CubeSmart by 155.8% during the 1st quarter. OppenheimerFunds Inc. now owns 3,449,763 shares of the real estate investment trust’s stock valued at $89,555,000 after acquiring an additional 2,101,363 shares during the period. Bank of New York Mellon Corp lifted its position in CubeSmart by 12.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock valued at $280,612,000 after acquiring an additional 1,335,665 shares during the period. Diamond Hill Capital Management Inc. lifted its position in CubeSmart by 36.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,702,262 shares of the real estate investment trust’s stock valued at $89,002,000 after acquiring an additional 980,490 shares during the period. Finally, Vanguard Group Inc. lifted its position in CubeSmart by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 27,937,327 shares of the real estate investment trust’s stock valued at $725,254,000 after acquiring an additional 735,099 shares during the period.

A number of research analysts recently issued reports on CUBE shares. Zacks Investment Research cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $27.00 target price on shares of CubeSmart in a report on Monday, September 11th. Bank of America Corporation cut shares of CubeSmart from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $27.75 to $25.00 in a report on Thursday, July 20th. UBS AG cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Finally, BidaskClub raised shares of CubeSmart from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $28.25.

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Shares of CubeSmart (NYSE CUBE) traded up 1.31% on Friday, reaching $26.31. 2,125,958 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $24.80 and a 200-day moving average price of $25.20. The company has a market cap of $4.74 billion, a PE ratio of 45.44 and a beta of 0.17. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.47.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The business had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $138.07 million. During the same period last year, the business earned $0.36 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that CubeSmart will post $0.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s dividend payout ratio is currently 186.21%.

CubeSmart Profile

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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