Stock Traders Purchase High Volume of Put Options on CubeSmart (CUBE)

CubeSmart (NYSE:CUBE) was the recipient of unusually large options trading on Tuesday. Stock traders bought 1,000 put options on the company. This represents an increase of approximately 1,718% compared to the typical daily volume of 55 put options.

A number of research firms recently commented on CUBE. BidaskClub upgraded CubeSmart from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Jefferies Group restated a “buy” rating and issued a $30.00 price objective on shares of CubeSmart in a report on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and issued a $25.00 price objective on shares of CubeSmart in a report on Friday, October 27th. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Monday, December 18th. Finally, B. Riley set a $32.00 price objective on CubeSmart and gave the stock a “buy” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. CubeSmart presently has an average rating of “Hold” and a consensus price target of $29.00.

Shares of CubeSmart (NYSE:CUBE) opened at $26.97 on Friday. The stock has a market capitalization of $4,880.00, a P/E ratio of 41.49, a price-to-earnings-growth ratio of 3.36 and a beta of 0.22. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.00. CubeSmart has a 12-month low of $22.83 and a 12-month high of $29.79.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). CubeSmart had a return on equity of 7.58% and a net margin of 22.19%. equities analysts forecast that CubeSmart will post 1.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.30 per share. The ex-dividend date was Friday, December 29th. This represents a $1.20 dividend on an annualized basis and a yield of 4.45%. This is a boost from CubeSmart’s previous quarterly dividend of $0.27. CubeSmart’s dividend payout ratio is presently 184.62%.

In related news, CFO Timothy M. Martin sold 57,746 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.41, for a total value of $1,698,309.86. Following the transaction, the chief financial officer now owns 211,694 shares in the company, valued at $6,225,920.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan L. Perry sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $29.37, for a total value of $595,329.90. Following the completion of the transaction, the senior vice president now owns 67,197 shares in the company, valued at approximately $1,973,575.89. The disclosure for this sale can be found here. Insiders sold 167,425 shares of company stock worth $4,915,172 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CUBE. The Manufacturers Life Insurance Company boosted its position in CubeSmart by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 370 shares during the period. Commonwealth Bank of Australia boosted its position in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 283 shares during the period. World Asset Management Inc bought a new stake in shares of CubeSmart in the third quarter valued at approximately $200,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of CubeSmart in the third quarter valued at approximately $211,000. Finally, Profund Advisors LLC bought a new stake in shares of CubeSmart in the second quarter valued at approximately $214,000.

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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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