NTV Asset Management LLC Purchases Shares of 35,000 CubeSmart (NYSE:CUBE)

NTV Asset Management LLC purchased a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 35,000 shares of the real estate investment trust's stock, valued at approximately $1,495,000.

Several other institutional investors and hedge funds have also bought and sold shares of CUBE. Norges Bank bought a new position in CubeSmart during the 4th quarter worth approximately $408,064,000. Capital World Investors increased its stake in shares of CubeSmart by 184.5% during the fourth quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock valued at $126,161,000 after buying an additional 1,909,496 shares during the period. Alyeska Investment Group L.P. increased its stake in shares of CubeSmart by 219.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock valued at $110,323,000 after buying an additional 1,768,626 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of CubeSmart by 27.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust's stock valued at $288,259,000 after buying an additional 1,464,331 shares during the period. Finally, Northern Trust Corp increased its stake in shares of CubeSmart by 46.6% during the fourth quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock valued at $161,067,000 after buying an additional 1,195,246 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho boosted their target price on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. BNP Paribas Exane assumed coverage on CubeSmart in a research note on Tuesday, June 24th. They set a "neutral" rating and a $46.00 target price on the stock. Barclays reduced their target price on CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Scotiabank boosted their target price on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Finally, BNP Paribas raised CubeSmart to a "hold" rating in a research note on Tuesday, June 24th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $47.38.

CubeSmart Price Performance

Shares of NYSE:CUBE traded up $0.05 during trading on Tuesday, hitting $42.62. 1,318,436 shares of the company's stock were exchanged, compared to its average volume of 1,556,792. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 7.97 and a beta of 0.96. The business's 50-day simple moving average is $42.54 and its 200 day simple moving average is $41.66. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. CubeSmart had a return on equity of 13.57% and a net margin of 37.05%. The firm had revenue of $273.04 million during the quarter, compared to analysts' expectations of $268.16 million. During the same quarter in the previous year, the business earned $0.64 EPS. The company's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Tuesday, July 1st. CubeSmart's dividend payout ratio (DPR) is presently 123.08%.

CubeSmart 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.