Daiwa Securities Group Inc. Increases Stake in CubeSmart (NYSE:CUBE)

Daiwa Securities Group Inc. grew its position in CubeSmart (NYSE:CUBE) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,135 shares of the real estate investment trust’s stock after acquiring an additional 4,853 shares during the period. Daiwa Securities Group Inc.’s holdings in CubeSmart were worth $4,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CUBE. Whittier Trust Co. raised its position in CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 323 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of CubeSmart by 302.0% in the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of CubeSmart in the second quarter valued at about $33,000. Peterson Financial Group Inc. purchased a new stake in CubeSmart during the third quarter worth about $33,000. Finally, Quarry LP grew its position in CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 757 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $49.93 on Wednesday. The company has a 50-day simple moving average of $50.12 and a 200-day simple moving average of $47.92. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $11.29 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 13.73 and a beta of 0.84. CubeSmart has a 12 month low of $38.31 and a 12 month high of $55.14.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Barclays decreased their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Scotiabank dropped their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday. Royal Bank of Canada decreased their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and raised their target price for the company from $53.00 to $54.00 in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.36.

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.