Nomura Holdings Inc. Takes $2.34 Million Position in CubeSmart (NYSE:CUBE)

Nomura Holdings Inc. bought a new stake in CubeSmart (NYSE:CUBE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 54,569 shares of the real estate investment trust’s stock, valued at approximately $2,338,000.

A number of other institutional investors have also modified their holdings of CUBE. Blue Trust Inc. increased its holdings in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the period. Jones Financial Companies Lllp increased its stake in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 389 shares during the period. SRS Capital Advisors Inc. increased its stake in CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 559 shares during the period. UMB Bank n.a. increased its stake in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 351 shares during the period. Finally, Huntington National Bank increased its stake in CubeSmart by 307.0% in the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 915 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $43.67 on Friday. The firm has a market capitalization of $9.96 billion, a P/E ratio of 24.67, a PEG ratio of 11.58 and a beta of 1.00. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The company’s fifty day moving average is $40.62 and its two-hundred day moving average is $42.98. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.76%. CubeSmart’s dividend payout ratio is presently 123.08%.

Analyst Ratings Changes

Several equities analysts have issued reports on CUBE shares. Mizuho started coverage on shares of CubeSmart in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 price objective on the stock. Scotiabank boosted their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Evercore ISI boosted their price objective on shares of CubeSmart from $44.00 to $47.00 and gave the company an “in-line” rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada dropped their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.93.

CubeSmart Company Profile

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.