Investors Purchase High Volume of CubeSmart Put Options (CUBE)

CubeSmart (NYSE:CUBE) was the target of unusually large options trading on Tuesday. Investors purchased 1,000 put options on the stock. This is an increase of 1,718% compared to the typical daily volume of 55 put options.

In other CubeSmart news, SVP Jonathan L. Perry sold 20,270 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $29.37, for a total value of $595,329.90. Following the transaction, the senior vice president now directly owns 67,197 shares of the company’s stock, valued at $1,973,575.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy M. Martin sold 83,409 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 228,948 shares in the company, valued at $6,712,755.36. The disclosure for this sale can be found here. Insiders sold 167,425 shares of company stock worth $4,915,172 over the last three months. Insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. raised its stake in CubeSmart by 2.9% during the 3rd quarter. Prudential Financial Inc. now owns 3,051,854 shares of the real estate investment trust’s stock valued at $79,226,000 after purchasing an additional 84,926 shares during the period. Northern Trust Corp raised its stake in CubeSmart by 7.0% during the 2nd quarter. Northern Trust Corp now owns 1,747,835 shares of the real estate investment trust’s stock valued at $42,018,000 after purchasing an additional 113,864 shares during the period. Numeric Investors LLC bought a new stake in CubeSmart during the 2nd quarter valued at approximately $1,231,000. AMP Capital Investors Ltd raised its stake in CubeSmart by 77.8% during the 3rd quarter. AMP Capital Investors Ltd now owns 113,841 shares of the real estate investment trust’s stock valued at $2,955,000 after purchasing an additional 49,800 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in CubeSmart by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,938,960 shares of the real estate investment trust’s stock valued at $102,453,000 after purchasing an additional 293,101 shares during the period.

Several research analysts have issued reports on the company. B. Riley reissued a “buy” rating on shares of CubeSmart in a research report on Wednesday, November 1st. 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. BidaskClub raised CubeSmart from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. Robert W. Baird reaffirmed a “buy” rating and issued a $27.00 price objective on shares of CubeSmart in a research note on Tuesday, October 17th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $25.00 price objective on shares of CubeSmart in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.00.

CubeSmart (CUBE) opened at $26.97 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a 12 month low of $22.83 and a 12 month high of $29.79. The company has a market capitalization of $4,952.53, a PE ratio of 40.86, a PEG ratio of 3.36 and a beta of 0.22.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.18). CubeSmart had a return on equity of 7.58% and a net margin of 22.19%. research analysts expect that CubeSmart will post 1.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.45%. The ex-dividend date was Friday, December 29th. This is an increase from CubeSmart’s previous quarterly dividend of $0.27. CubeSmart’s dividend payout ratio (DPR) is 181.82%.

TRADEMARK VIOLATION WARNING: This article was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://stocknewstimes.com/2018/01/19/investors-purchase-high-volume-of-cubesmart-put-options-cube.html.

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.

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.

Latest News

Leave a Reply