NN Investment Partners Holdings N.V. Takes $20.53 Million Position in CubeSmart (CUBE)

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NN Investment Partners Holdings N.V. bought a new position in CubeSmart (NYSE:CUBE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 719,548 shares of the real estate investment trust’s stock, valued at approximately $20,529,000. NN Investment Partners Holdings N.V. owned 0.39% of CubeSmart as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CUBE. Legal & General Group Plc boosted its position in CubeSmart by 13.1% during the first quarter. Legal & General Group Plc now owns 657,181 shares of the real estate investment trust’s stock valued at $18,532,000 after purchasing an additional 75,948 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in CubeSmart by 39.8% during the first quarter. Xact Kapitalforvaltning AB now owns 21,434 shares of the real estate investment trust’s stock valued at $604,000 after buying an additional 6,100 shares in the last quarter. WINTON GROUP Ltd bought a new position in CubeSmart during the first quarter valued at about $480,000. Allianz Asset Management GmbH raised its holdings in CubeSmart by 150.2% during the first quarter. Allianz Asset Management GmbH now owns 1,624,085 shares of the real estate investment trust’s stock valued at $45,799,000 after buying an additional 974,997 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in CubeSmart during the first quarter valued at about $412,000.

Shares of CUBE opened at $29.36 on Wednesday. CubeSmart has a 12-month low of $25.22 and a 12-month high of $33.18. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market cap of $5.29 billion, a P/E ratio of 18.47, a PEG ratio of 3.61 and a beta of 0.06.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.18). CubeSmart had a net margin of 26.43% and a return on equity of 9.42%. The firm had revenue of $153.37 million for the quarter, compared to the consensus estimate of $150.76 million. Analysts anticipate that CubeSmart will post 1.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, September 28th. CubeSmart’s payout ratio is 75.47%.

Several research firms have weighed in on CUBE. SunTrust Banks set a $32.00 target price on CubeSmart and gave the company a “hold” rating in a report on Tuesday, August 7th. ValuEngine lowered CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Evercore ISI lowered CubeSmart from an “outperform” rating to an “in-line” rating in a report on Monday, July 16th. Citigroup raised their target price on CubeSmart from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 12th. Finally, Zacks Investment Research lowered CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $32.50.

About CubeSmart

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 secure storage space for residential and commercial customers. According to the 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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