Nordwand Advisors LLC Purchases Shares of 25,000 CubeSmart $CUBE

Nordwand Advisors LLC purchased a new position in CubeSmart (NYSE:CUBE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the real estate investment trust’s stock, valued at approximately $1,062,000.

Several other hedge funds have also recently modified their holdings of the stock. Cerity Partners LLC raised its position in shares of CubeSmart by 6.2% in the 1st quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust’s stock valued at $230,000 after purchasing an additional 316 shares during the last quarter. CWM LLC increased its stake in CubeSmart by 23.5% during the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 371 shares in the last quarter. Victory Capital Management Inc. increased its stake in CubeSmart by 6.8% during the 1st quarter. Victory Capital Management Inc. now owns 580,530 shares of the real estate investment trust’s stock valued at $24,794,000 after purchasing an additional 36,807 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in shares of CubeSmart by 170.6% in the first quarter. Gallacher Capital Management LLC now owns 18,414 shares of the real estate investment trust’s stock worth $786,000 after buying an additional 11,608 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of CubeSmart by 139.8% during the first quarter. Allianz Asset Management GmbH now owns 297,941 shares of the real estate investment trust’s stock worth $12,725,000 after buying an additional 173,671 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Price Performance

NYSE:CUBE opened at $36.10 on Tuesday. CubeSmart has a one year low of $34.24 and a one year high of $50.69. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 8.91 and a beta of 0.99. The firm’s fifty day moving average is $39.88 and its two-hundred day moving average is $41.04.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Research analysts expect that CubeSmart will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Royal Bank Of Canada dropped their price target on CubeSmart from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Citigroup cut their price objective on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. Finally, UBS Group reduced their price objective on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus target price of $45.94.

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.