CubeSmart Sees Unusually High Options Volume (CUBE)

CubeSmart (NYSE:CUBE) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 400 call options on the company. This represents an increase of 515% compared to the average daily volume of 65 call options.

Shares of CubeSmart (CUBE) opened at $28.09 on Friday. The company has a market cap of $5,100.00, a PE ratio of 43.22, a PEG ratio of 3.51 and a beta of 0.22. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00. CubeSmart has a 1-year low of $22.83 and a 1-year high of $29.79.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from CubeSmart’s previous quarterly dividend of $0.27. CubeSmart’s dividend payout ratio (DPR) is 184.62%.

In other news, CEO Christopher P. Marr sold 6,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $29.33, for a total value of $175,980.00. Following the sale, the chief executive officer now directly owns 410,138 shares of the company’s stock, valued at approximately $12,029,347.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jonathan L. Perry sold 20,270 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $29.37, for a total transaction of $595,329.90. Following the completion of the sale, the senior vice president now directly owns 67,197 shares in the company, valued at $1,973,575.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,425 shares of company stock valued at $4,915,172. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CUBE. Schwab Charles Investment Management Inc. increased its holdings in CubeSmart by 10.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,782,647 shares of the real estate investment trust’s stock worth $42,855,000 after buying an additional 168,284 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in CubeSmart by 9.1% during the second quarter. Advisors Asset Management Inc. now owns 14,658 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 1,221 shares during the last quarter. Legal & General Group Plc increased its holdings in CubeSmart by 6.1% during the second quarter. Legal & General Group Plc now owns 475,710 shares of the real estate investment trust’s stock worth $11,436,000 after buying an additional 27,270 shares during the last quarter. BB&T Securities LLC purchased a new stake in CubeSmart during the second quarter worth about $416,000. Finally, Marshall Wace North America L.P. purchased a new stake in CubeSmart during the second quarter worth about $672,000.

CUBE has been the topic of several research reports. BidaskClub upgraded shares of CubeSmart from a “strong sell” rating to a “sell” rating in a report on Thursday, September 7th. BMO Capital Markets restated a “market perform” rating and set a $27.00 price objective on shares of CubeSmart in a report on Monday, September 11th. Evercore ISI restated an “outperform” rating and set a $28.00 price objective (up previously from $27.00) on shares of CubeSmart in a report on Thursday, September 14th. Robert W. Baird restated a “buy” rating and set a $27.00 price objective on shares of CubeSmart in a report on Tuesday, October 17th. Finally, Jefferies Group restated a “buy” rating and set a $30.00 price objective on shares of CubeSmart in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. CubeSmart currently has a consensus rating of “Hold” and an average price target of $29.00.

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About CubeSmart

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

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