Traders Buy High Volume of Call Options on CubeSmart (CUBE)
CubeSmart (NYSE:CUBE) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 400 call options on the company. This is an increase of 515% compared to the typical volume of 65 call options.
Shares of CubeSmart (NYSE CUBE) opened at $28.09 on Friday. CubeSmart has a 52-week low of $22.83 and a 52-week high of $29.79. The firm has a market cap of $5,100.00, a P/E ratio of 43.22, a PEG ratio of 3.51 and a beta of 0.22. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Friday, December 29th. This is a boost from CubeSmart’s previous quarterly dividend of $0.27. CubeSmart’s dividend payout ratio is presently 184.62%.
In other CubeSmart news, CEO Christopher P. Marr sold 6,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $29.33, for a total value of $175,980.00. Following the completion of 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 filing with the SEC, which is available through this link. Also, CFO Timothy M. Martin sold 57,746 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $29.41, for a total transaction of $1,698,309.86. Following the completion of the sale, the chief financial officer now directly owns 211,694 shares of the company’s stock, valued at $6,225,920.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,425 shares of company stock valued at $4,915,172. 1.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. lifted its position in shares of CubeSmart by 2.9% in the 3rd quarter. Prudential Financial Inc. now owns 3,051,854 shares of the real estate investment trust’s stock worth $79,226,000 after purchasing an additional 84,926 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of CubeSmart by 1.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 283,639 shares of the real estate investment trust’s stock worth $7,363,000 after purchasing an additional 3,302 shares during the period. Americafirst Capital Management LLC bought a new position in shares of CubeSmart during the 3rd quarter worth approximately $450,000. Dean Investment Associates LLC raised its stake in shares of CubeSmart by 59.7% during the 3rd quarter. Dean Investment Associates LLC now owns 42,230 shares of the real estate investment trust’s stock worth $1,096,000 after acquiring an additional 15,782 shares in the last quarter. Finally, Eii Capital Management Inc. bought a new position in shares of CubeSmart during the 3rd quarter worth approximately $1,057,000.
CUBE has been the subject of several research reports. B. Riley set a $32.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 14th. FBR & Co reissued a “buy” rating and issued a $32.00 price objective on shares of CubeSmart in a research report on Friday, October 27th. Cantor Fitzgerald reissued a “buy” rating and issued a $28.00 price objective on shares of CubeSmart in a research report on Thursday, October 26th. Jefferies Group reissued a “buy” rating and issued a $30.00 price objective on shares of CubeSmart in a research report on Tuesday, October 24th. Finally, BidaskClub raised shares of CubeSmart from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $29.00.
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CubeSmart Company Profile
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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