Nomura Holdings Inc. Sells 42,824 Shares of CubeSmart $CUBE

Key Points

• Nomura Holdings Inc. significantly reduced its stake in CubeSmart by 78.5% during the first quarter, leaving it with just 11,745 shares valued at $502,000.
• CubeSmart reported $0.65 EPS for the last quarter, exceeding expectations, and revealed revenue growth of 6.0% year-over-year, totaling $282.30 million.
• The company announced a quarterly dividend of $0.52 per share, representing a 5.1% yield, with a dividend payout ratio of 126.83%.

Nomura Holdings Inc. trimmed its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 78.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,745 shares of the real estate investment trust's stock after selling 42,824 shares during the period. Nomura Holdings Inc.'s holdings in CubeSmart were worth $502,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CUBE. AQR Capital Management LLC raised its holdings in CubeSmart by 101.6% during the fourth quarter. AQR Capital Management LLC now owns 127,499 shares of the real estate investment trust's stock valued at $5,435,000 after acquiring an additional 64,262 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of CubeSmart by 173.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,935 shares of the real estate investment trust's stock worth $511,000 after purchasing an additional 7,573 shares in the last quarter. Brevan Howard Capital Management LP raised its stake in CubeSmart by 63.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 11,609 shares of the real estate investment trust's stock valued at $497,000 after purchasing an additional 4,499 shares during the period. BOKF NA raised its stake in CubeSmart by 1.3% during the 4th quarter. BOKF NA now owns 60,154 shares of the real estate investment trust's stock valued at $2,420,000 after purchasing an additional 744 shares during the period. Finally, CoreCap Advisors LLC lifted its holdings in CubeSmart by 14.6% in the 4th quarter. CoreCap Advisors LLC now owns 30,982 shares of the real estate investment trust's stock worth $1,328,000 after purchasing an additional 3,937 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

CubeSmart Trading Down 0.0%

NYSE CUBE traded down $0.02 during trading hours on Wednesday, hitting $40.72. 1,807,492 shares of the company were exchanged, compared to its average volume of 1,515,582. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $40.77 and a 200 day moving average price of $41.28. The stock has a market cap of $9.28 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 9.07 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. Analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.52 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.1%. CubeSmart's dividend payout ratio (DPR) is currently 126.83%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CUBE. Barclays cut their price objective on shares of CubeSmart from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Wolfe Research assumed coverage on shares of CubeSmart in a research note on Monday, May 19th. They set an "outperform" rating and a $48.00 target price for the company. Evercore ISI reduced their price target on shares of CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a report on Monday, August 4th. Truist Financial increased their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Mizuho raised their price objective on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.69.

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.