Investors Purchase High Volume of CubeSmart Put Options (CUBE)
CubeSmart (NYSE:CUBE) was the target of unusually large options trading on Tuesday. Stock traders purchased 1,000 put options on the company. This is an increase of approximately 1,718% compared to the typical daily volume of 55 put options.
A number of research firms have issued reports on CUBE. Zacks Investment Research downgraded CubeSmart from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. B. Riley set a $32.00 price objective on CubeSmart and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Jefferies Group set a $33.00 price objective on CubeSmart and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Robert W. Baird downgraded CubeSmart from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $27.00 to $29.00 in a research note on Tuesday, November 28th. Finally, BidaskClub raised CubeSmart from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CubeSmart presently has a consensus rating of “Hold” and an average price target of $29.00.
CubeSmart (NYSE:CUBE) opened at $26.97 on Friday. The company has a market capitalization of $4,952.53, a P/E ratio of 40.86, a PEG ratio of 3.36 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 announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were issued a $0.30 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.45%. CubeSmart’s payout ratio is 181.82%.
In other CubeSmart news, CEO Christopher P. Marr sold 6,000 shares of CubeSmart stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.33, for a total value of $175,980.00. Following the sale, the chief executive officer now 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 accessible through this hyperlink. Also, CFO Timothy M. Martin sold 83,409 shares of CubeSmart stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $29.32, for a total value of $2,445,551.88. Following the completion of the sale, the chief financial officer now directly owns 228,948 shares in the company, valued at approximately $6,712,755.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,425 shares of company stock worth $4,915,172. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in CUBE. The Manufacturers Life Insurance Company boosted its holdings in shares of CubeSmart by 7.4% in the 2nd 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 holdings in shares of CubeSmart by 3.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 283 shares during the period. World Asset Management Inc purchased a new position in shares of CubeSmart in the 3rd quarter worth approximately $200,000. Campbell & CO Investment Adviser LLC purchased a new position in CubeSmart during the 3rd quarter valued at $211,000. Finally, Profund Advisors LLC purchased a new position in CubeSmart during the 2nd quarter valued at $214,000.
TRADEMARK VIOLATION WARNING: “Investors Purchase High Volume of CubeSmart Put Options (CUBE)” was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://theolympiareport.com/2018/01/19/investors-purchase-high-volume-of-cubesmart-put-options-cube.html.
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.
Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.