Nomura Asset Management Co. Ltd. Purchases 3,778 Shares of CubeSmart $CUBE

Nomura Asset Management Co. Ltd. raised its position in shares of CubeSmart (NYSE:CUBE) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 322,710 shares of the real estate investment trust’s stock after acquiring an additional 3,778 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in CubeSmart were worth $13,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CUBE. Cerity Partners LLC lifted its position in shares of CubeSmart by 6.2% during the 1st quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 316 shares during the last quarter. CWM LLC increased its position in CubeSmart by 23.5% in the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 371 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of CubeSmart by 139.8% during the first quarter. Allianz Asset Management GmbH now owns 297,941 shares of the real estate investment trust’s stock worth $12,725,000 after buying an additional 173,671 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CubeSmart in the first quarter valued at approximately $13,540,000. Finally, Assetmark Inc. grew its stake in shares of CubeSmart by 16.2% in the first quarter. Assetmark Inc. now owns 4,236 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 589 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Trading Down 1.2%

CUBE stock opened at $35.86 on Thursday. The business has a fifty day moving average price of $39.69 and a 200 day moving average price of $40.96. 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 fifty-two week low of $34.24 and a fifty-two week high of $50.69. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 8.91 and a beta of 0.99.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company had revenue of $285.08 million for the quarter, compared to analyst estimates of $282.57 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft set a $45.00 price target on CubeSmart and gave the company a “buy” rating in a research note on Monday, October 13th. Royal Bank Of Canada lowered their price target on CubeSmart from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Barclays cut their price objective on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Finally, UBS Group lowered their target price on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.94.

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, 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.