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CubeSmart Stock Research

CUBE

45.50USD+0.38(+0.84%)Delayedas of 27 Mar 2023, 02:00 pm

Market Summary

USD45.50+0.38
Delayedas of 27 Mar 2023, 02:00 pm
0.84%

CUBE Alerts

CUBE Stock Price

CUBE RSI Chart

CUBE Valuation

Market Cap

10.1B

Price/Earnings (Trailing)

34.65

Price/Sales (Trailing)

10.04

Price/Free Cashflow

17.13

CUBE Price/Sales (Trailing)

CUBE Profitability

Operating Margin

70.95%

Return on Equity

10.35%

Return on Assets

4.62%

Free Cashflow Yield

5.84%

CUBE Fundamentals

CUBE Revenue

Revenue (TTM)

1.0B

Revenue Y/Y

17.61%

Revenue Q/Q

-0.16%

CUBE Earnings

Earnings (TTM)

292.5M

Earnings Y/Y

76.47%

Earnings Q/Q

-27.56%

Price Action

52 Week Range

36.8253.81
(Low)(High)

Last 7 days

-3.3%

Last 30 days

3.1%

Last 90 days

10.9%

Trailing 12 Months

-7.9%

CUBE Financial Health

CUBE Investor Care

Dividend Yield

3.95%

Dividend/Share (TTM)

1.78

Shares Dilution (1Y)

0.31%

Diluted EPS (TTM)

1.29

Peers (Alternatives to CubeSmart)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
50.2B
4.2B
-1.95% -19.53%
11.55
12.01
22.43% 122.66%
27.5B
4.7B
-11.51% -30.78%
72.75
5.86
5.96% -77.90%
21.2B
2.7B
-12.90% -34.85%
27.27
7.81
11.91% -41.71%
20.5B
2.6B
-23.09% -36.12%
39.23
7.91
22.46% -8.68%
13.2B
1.7B
-4.07% -25.83%
104.43
7.61
26.61% -85.07%
MID-CAP
7.5B
1.1B
-12.78% -19.56%
19.52
7
12.95% 47.42%
4.3B
802.0M
-9.18% -8.49%
-338.08
5.33
114.83% 84.36%
2.6B
1.8B
-34.87% -68.35%
-7.52
1.45
13.26% -296.88%
2.0B
859.2M
-22.66% -32.73%
-30.92
2.38
1.38% -563.21%
SMALL-CAP
2.0B
421.4M
1.35% 15.46%
23.02
4.64
3.35% 1705.32%
1.3B
826.7M
-42.91% -73.34%
-17.18
1.62
-2.04% -117.36%
1.0B
190.3M
-3.26% -2.73%
11.34
5.49
12.08% 1950.56%
909.5M
740.4M
-23.50% -61.25%
-24.99
1.23
1.87% -78.85%

Financials for CubeSmart

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue4.0%1,010971922872823
Cost Of Revenue3.3%293284271261252
  S&GA Expenses-0.5%55.0055.0054.0051.0048.00
Costs and Expenses1.6%658648610574532
Interest Expenses1.7%92.0091.0081.0080.0079.00
Net Income13.9%292257234226231
Net Income Margin9.5%0.29*0.26*0.25*0.26*-
Free Cahsflow7.0%591553516482-
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets-0.7%6,3266,3716,4296,4626,548
    Cash Equivalents17.0%6.005.005.008.0011.00
Liabilities-0.5%3,4283,4473,5263,5223,550
Shareholder's Equity-0.9%2,8262,8522,8402,8632,872
  Retained Earnings-2.3%-1,301-1,271-1,291-1,266-1,218
  Additional Paid-In Capital0.1%4,1254,1224,1144,1124,088
Shares Outstanding0.0%225225224224224
Minority Interest0.5%14.0014.0016.0016.0019.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations7.0%591553516482449
  Share Based Compensation2.9%9.009.009.008.008.00
Cashflow From Investing97.2%-48.77-1,753-1,814-1,841-1,852
Cashflow From Financing-147.6%-5471,1491,3011,3641,411
  Dividend Payments7.7%387360332303274

Risks for CUBE

What is the probability of a big loss on CUBE?

37.7%


Probability that CubeSmart stock will be more than 20% underwater in next one year

23.9%


Probability that CubeSmart stock will be more than 30% underwater in next one year.

0%


Probability that CubeSmart stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CUBE drawdown profile look like?

Y-axis is the maximum loss one would have experienced if CubeSmart was unfortunately bought at previous high price.

Drawdowns

Returns for CUBE

Cumulative Returns on CUBE

14.9%


10-Year Cumulative Returns

8.9%


7-Year Cumulative Returns

14.9%


5-Year Cumulative Returns

29.8%


3-Year Cumulative Returns

What are the long-term rolling returns for CUBE?

FIve years rolling returns for CubeSmart.

Annualized Returns

Which funds bought or sold CUBE recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
reduced
-0.04
4,670
1,099,670
-%
2023-03-06
Rockefeller Capital Management L.P.
added
1.31
1,000
58,000
-%
2023-02-28
Voya Investment Management LLC
added
454
5,371,580
6,546,580
0.01%
2023-02-24
NATIXIS
new
-
4,894,400
4,894,400
0.03%
2023-02-22
CVA Family Office, LLC
new
-
201
201
-%
2023-02-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
new
-
1,137,000
1,137,000
0.01%
2023-02-21
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
reduced
-5.15
-920
17,080
-%
2023-02-21
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC
new
-
836,516
836,516
0.02%
2023-02-21
MACQUARIE GROUP LTD
added
17.71
689,002
4,999,000
0.01%
2023-02-21
CENTERSQUARE INVESTMENT MANAGEMENT LLC
added
676
43,255,800
49,617,800
0.58%

1–10 of 45

Latest Funds Activity

Are funds buying CUBE calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own CUBE
No. of Funds

CubeSmart News

Seeking Alpha

HOMZ: A Low-Yielding Micro-Cap Real Estate Fund (NYSEARCA ....

Seeking Alpha,
6 hours ago

InvestorsObserver

InvestorsObserver

Investor's Business Daily

Investor's Business Daily

Investor's Business Daily

Four Corners Property Tr Earns IBD Rating Upgrade.

Investor's Business Daily,
12 days ago

Yahoo Finance

Investor's Business Daily

Schedule 13G FIlings of CubeSmart

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 15, 2023
principal real estate investors llc
5.17%
11,619,403
SC 13G
Feb 09, 2023
fmr llc
-
0
SC 13G/A
Feb 09, 2023
vanguard group inc
14.59%
32,768,312
SC 13G/A
Jan 20, 2023
state street corp
5.46%
12,251,583
SC 13G
Jan 20, 2023
state street corp
5.46%
12,251,583
SC 13G
Jan 06, 2023
blackrock inc.
11.6%
26,087,060
SC 13G/A
Feb 09, 2022
vanguard group inc
14.01%
30,663,122
SC 13G/A
Feb 09, 2022
fmr llc
-
0
SC 13G/A
Feb 01, 2022
blackrock inc.
9.4%
20,598,563
SC 13G/A
Oct 12, 2021
pggm investments
4.99%
10
SC 13G

CUBE Fair Value

CubeSmart fair value in different scenarios

The table shows the Fair Value estimates for CubeSmart for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

23.59

-48.15%

28.79

-36.73%

39.01

-14.26%

52.48

15.34%

64.37

41.47%
Current Inflation

21.71

-52.29%

26.11

-42.62%

34.67

-23.80%

45.90

0.88%

55.76

22.55%
Very High Inflation

19.42

-57.32%

22.88

-49.71%

29.57

-35.01%

38.31

-15.80%

45.94

0.97%

Historical CubeSmart Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of CubeSmart

View All Filings
Date Filed Form Type Document
Mar 17, 2023
3
Insider Trading
Mar 17, 2023
3
Insider Trading
Mar 17, 2023
8-K
Current Report
Mar 07, 2023
4
Insider Trading
Mar 03, 2023
424B5
Prospectus Filed
Mar 03, 2023
8-K
Current Report
Mar 03, 2023
8-K
Current Report
Mar 03, 2023
S-3ASR
S-3ASR
Feb 24, 2023
10-K
Annual Report
Feb 24, 2023
8-K
Current Report

Latest Insider Trading transactions for CUBE

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-03
MARR CHRISTOPHER P
sold
-918,270
48.33
-19,000
ceo
2023-03-03
MARR CHRISTOPHER P
acquired
297,730
15.67
19,000
ceo
2023-01-01
Keaton Joel D
sold (taxes)
-27,450
40.25
-682
coo
2023-01-01
MARR CHRISTOPHER P
acquired
2,441,930
25.8069
94,623
ceo
2023-01-01
Foster Jeffrey P
acquired
351,463
24.9
14,115
clo & secretary
2023-01-01
Keaton Joel D
acquired
369,978
21.4269
17,267
coo
2023-01-01
MARTIN TIMOTHY M
acquired
614,175
21.8606
28,095
cfo
2022-10-25
Chin Jit Kee
acquired
-
-
1,249
-
2022-05-17
Lynch Jair K
acquired
-
-
2,032
-
2022-05-17
FAIN JOHN W
acquired
-
-
2,438
-

1–10 of 50

About CubeSmart

CUBE Income Statement

2022-12-31
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES   
Rental income$ 879,289$ 707,751$ 581,009
Total revenues1,009,624822,564679,177
OPERATING EXPENSES   
Property operating expenses293,260252,104223,634
Depreciation and amortization310,610232,049156,573
General and administrative54,62347,80941,423
Total operating expenses658,493531,962421,630
Interest:   
Interest expense on loans(93,284)(78,448)(75,890)
Loan procurement amortization expense(3,897)(8,168)(2,674)
Loss on early extinguishment of debt (20,328)(18,020)
Equity in earnings of real estate ventures48,87725,275178
Gains from sales of real estate, net 32,6986,710
Other(10,355)(10,818)(240)
Total other expense(58,659)(59,789)(89,936)
NET INCOME292,472230,813167,611
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS   
Noncontrolling interests in the Operating Partnership(1,931)(7,873)(1,825)
Noncontrolling interest in subsidiaries722542(165)
NET INCOME ATTRIBUTABLE TO THE COMPANY'S COMMON SHAREHOLDERS$ 291,263$ 223,482$ 165,621
Basic earnings per share attributable to common shareholders (in dollars per share)$ 1.29$ 1.10$ 0.85
Diluted earnings per share attributable to common shareholders (in dollars per share)$ 1.29$ 1.09$ 0.85
Weighted average basic shares outstanding (in shares)224,928203,832194,147
Weighted average diluted shares outstanding (in shares)225,881205,009194,943
Other Property Related Income   
REVENUES   
Property related income$ 96,166$ 83,605$ 70,723
Property Management Fee Income   
REVENUES   
Property related income$ 34,169$ 31,208$ 27,445

CUBE Balance Sheet

2022-12-31
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS  
Storage properties$ 7,295,778$ 7,183,494
Less: Accumulated depreciation(1,247,775)(1,085,824)
Storage properties, net (including VIE assets of $167,180 and $149,467, respectively)6,048,0036,097,670
Cash and cash equivalents6,06411,140
Restricted cash2,8612,178
Loan procurement costs, net of amortization5,1822,322
Investment in real estate ventures, at equity105,993119,751
Assets held for sale3,74549,313
Other assets, net153,982265,705
Total assets6,325,8306,548,079
LIABILITIES AND EQUITY  
Unsecured senior notes, net2,772,3502,768,209
Revolving credit facility60,900209,900
Mortgage loans and notes payable, net162,918167,676
Lease liabilities - finance leases65,75865,801
Accounts payable, accrued expenses and other liabilities213,297199,985
Distributions payable111,19097,417
Deferred revenue38,75737,144
Security deposits1,0871,065
Liabilities held for sale1,7732,502
Total liabilities3,428,0303,549,699
Noncontrolling interests in the Operating Partnership57,419108,220
Commitments and contingencies
Equity  
Common shares $.01 par value, 400,000,000 shares authorized, 224,603,462 and 223,917,993 shares issued and outstanding at December 31, 2022, and 2021, respectively2,2462,239
Additional paid-in capital4,125,4784,088,392
Accumulated other comprehensive loss(491)(570)
Accumulated deficit(1,301,030)(1,218,498)
Total CubeSmart shareholders' equity2,826,2032,871,563
Noncontrolling interests in subsidiaries14,17818,597
Total equity2,840,3812,890,160
Total liabilities and equity$ 6,325,830$ 6,548,079