Nomura Asset Management Co. Ltd. Buys 14,130 Shares of CubeSmart (NYSE:CUBE)

Nomura Asset Management Co. Ltd. boosted its stake in shares of CubeSmart (NYSE:CUBE) by 4.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 305,102 shares of the real estate investment trust’s stock after acquiring an additional 14,130 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in CubeSmart were worth $13,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc grew its position in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 673 shares in the last quarter. Blue Trust Inc. grew its holdings in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 289 shares in the last quarter. 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 worth $29,000 after acquiring an additional 389 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 559 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of CubeSmart by 59.4% during the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada reduced their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus price target of $48.00.

CubeSmart Stock Performance

Shares of CubeSmart stock opened at $42.03 on Monday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock’s fifty day moving average is $41.88 and its two-hundred day moving average is $45.72. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company has a market capitalization of $9.58 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. As a group, analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio is presently 120.93%.

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.