Nomura Asset Management Co. Ltd. Has $13.72 Million Stake in CubeSmart $CUBE

Nomura Asset Management Co. Ltd. boosted its position in shares of CubeSmart (NYSE:CUBE) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 322,710 shares of the real estate investment trust’s stock after purchasing an additional 3,778 shares during the period. Nomura Asset Management Co. Ltd. owned 0.14% of CubeSmart worth $13,715,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CUBE. HighTower Advisors LLC boosted its position in CubeSmart by 19.9% during the 1st quarter. HighTower Advisors LLC now owns 37,160 shares of the real estate investment trust’s stock worth $1,587,000 after acquiring an additional 6,179 shares during the period. MetLife Investment Management LLC lifted its position in shares of CubeSmart by 63.7% in the first quarter. MetLife Investment Management LLC now owns 219,496 shares of the real estate investment trust’s stock worth $9,375,000 after purchasing an additional 85,414 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of CubeSmart during the first quarter worth approximately $824,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of CubeSmart by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,183,271 shares of the real estate investment trust’s stock worth $135,958,000 after purchasing an additional 58,564 shares during the period. Finally, Northern Trust Corp grew its position in CubeSmart by 4.3% during the first quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock valued at $167,463,000 after purchasing an additional 162,068 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group decreased their target price on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Citigroup reduced 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. Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday. Barclays dropped their target price on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reduced their price target on CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.94.

CubeSmart Price Performance

NYSE CUBE opened at $35.86 on Thursday. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $50.69. The stock’s 50-day moving average is $39.69 and its two-hundred day moving average is $40.96. The firm has a market cap of $8.18 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 8.91 and a beta of 0.99. 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 (NYSE:CUBE) last released its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $282.57 million. During the same quarter in the prior year, the company posted $0.67 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

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.