CubeSmart
Market Cap
US$6.6b
Last Updated
2020/10/30 23:33 UTC
Data Sources
Company Financials +
Executive Summary
CubeSmart is a self-administered and self-managed real estate investment trust. More Details
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer with questionable track record.
Similar Companies
Share Price & News
How has CubeSmart's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CUBE has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-1.0%
CUBE
-4.2%
US REITs
-4.1%
US Market
1 Year Return
6.4%
CUBE
-18.0%
US REITs
12.0%
US Market
Return vs Industry: CUBE exceeded the US REITs industry which returned -18% over the past year.
Return vs Market: CUBE underperformed the US Market which returned 12% over the past year.
Shareholder returns
| CUBE | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.0% | -4.2% | -4.1% |
| 30 Day | 5.0% | -2.6% | -0.2% |
| 90 Day | 14.4% | -5.9% | 2.8% |
| 1 Year | 11.4%6.4% | -14.7%-18.0% | 14.6%12.0% |
| 3 Year | 36.7%20.5% | 8.5%-4.1% | 35.8%26.8% |
| 5 Year | 51.9%24.9% | 35.5%8.4% | 75.2%55.6% |
Price Volatility Vs. Market
How volatile is CubeSmart's share price compared to the market and industry in the last 5 years?
Simply Wall St News
7 months ago | Simply Wall St
Did You Manage To Avoid CubeSmart's (NYSE:CUBE) 17% Share Price Drop?8 months ago | Simply Wall St
CubeSmart Full-Year Results Just Came Out: Here's What Analysts Are Forecasting For Next Year8 months ago | Simply Wall St
Should You Be Excited About CubeSmart's (NYSE:CUBE) 9.4% Return On Equity?Valuation
Is CubeSmart undervalued compared to its fair value and its price relative to the market?
17.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CUBE ($33.93) is trading below our estimate of fair value ($41.16)
Significantly Below Fair Value: CUBE is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: CUBE is poor value based on its PE Ratio (40.9x) compared to the US REITs industry average (34x).
PE vs Market: CUBE is poor value based on its PE Ratio (40.9x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: CUBE is poor value based on its PEG Ratio (5.7x)
Price to Book Ratio
PB vs Industry: CUBE is overvalued based on its PB Ratio (3.7x) compared to the US REITs industry average (1.4x).
Next Steps
Future Growth
How is CubeSmart forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
7.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CUBE's forecast earnings growth (7.2% per year) is above the savings rate (2.2%).
Earnings vs Market: CUBE's earnings (7.2% per year) are forecast to grow slower than the US market (22% per year).
High Growth Earnings: CUBE's earnings are forecast to grow, but not significantly.
Revenue vs Market: CUBE's revenue (4.8% per year) is forecast to grow slower than the US market (10% per year).
High Growth Revenue: CUBE's revenue (4.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CUBE's Return on Equity is forecast to be low in 3 years time (9.6%).
Next Steps
Past Performance
How has CubeSmart performed over the past 5 years?
23.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CUBE has high quality earnings.
Growing Profit Margin: CUBE's current net profit margins (23.9%) are lower than last year (28.4%).
Past Earnings Growth Analysis
Earnings Trend: CUBE's earnings have grown significantly by 23.4% per year over the past 5 years.
Accelerating Growth: CUBE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CUBE had negative earnings growth (-8.7%) over the past year, making it difficult to compare to the REITs industry average (8.1%).
Return on Equity
High ROE: CUBE's Return on Equity (8.9%) is considered low.
Next Steps
Financial Health
How is CubeSmart's financial position?
Financial Position Analysis
Short Term Liabilities: CUBE's short term assets ($20.4M) do not cover its short term liabilities ($170.7M).
Long Term Liabilities: CUBE's short term assets ($20.4M) do not cover its long term liabilities ($2.0B).
Debt to Equity History and Analysis
Debt Level: CUBE's debt to equity ratio (106.9%) is considered high.
Reducing Debt: CUBE's debt to equity ratio has increased from 79% to 106.9% over the past 5 years.
Debt Coverage: CUBE's debt is not well covered by operating cash flow (17.6%).
Interest Coverage: CUBE's interest payments on its debt are well covered by EBIT (3.2x coverage).
Balance Sheet
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Dividend
What is CubeSmart current dividend yield, its reliability and sustainability?
3.89%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CUBE's dividend (3.89%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: CUBE's dividend (3.89%) is low compared to the top 25% of dividend payers in the US market (4.78%).
Stability and Growth of Payments
Stable Dividend: CUBE's dividends per share have been stable in the past 10 years.
Growing Dividend: CUBE's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (76.3%), CUBE's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CUBE's dividends in 3 years are forecast to be covered by earnings (76.7% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
6.8yrs
Average management tenure
CEO
Chris Marr (55 yo)
6.75yrs
Tenure
US$5,357,599
Compensation
Mr. Christopher P. Marr, also known as Chris, has been the Chief Executive Officer and President at CubeSmart, a real estate company that acquires, owns, operates and develops self-storage facilities in th ...
CEO Compensation Analysis
Compensation vs Market: Chris's total compensation ($USD5.36M) is about average for companies of similar size in the US market ($USD7.41M).
Compensation vs Earnings: Chris's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Trustee | 6.75yrs | US$5.36m | 0.24% $ 16.1m | |
| CFO & Treasurer | 11.92yrs | US$2.01m | 0.11% $ 7.1m | |
| Chief Operating Officer | 0.92yr | US$1.26m | 0.020% $ 1.3m | |
| Senior VP | 11.58yrs | US$1.35m | 0.067% $ 4.4m | |
| Director | 6.75yrs | no data | no data | |
| Vice President of Marketing | 6.58yrs | no data | no data | |
| Vice President of Operations | 19.75yrs | no data | no data | |
| Vice President of Operations | 14.08yrs | no data | no data | |
| Vice President of Third-Party Management | 6.58yrs | no data | no data | |
| Director of Financial Analysis | no data | no data | no data |
6.8yrs
Average Tenure
49.5yo
Average Age
Experienced Management: CUBE's management team is seasoned and experienced (6.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Trustee | 6.75yrs | US$5.36m | 0.24% $ 16.1m | |
| Independent Trustee | 9.75yrs | US$152.95k | 0.021% $ 1.4m | |
| Independent Trustee | 7.42yrs | US$155.41k | 0.013% $ 826.8k | |
| Independent Trustee | 10.92yrs | US$146.66k | 0.032% $ 2.1m | |
| Independent Chairman of the Board | 2.42yrs | US$161.66k | 0.024% $ 1.6m | |
| Independent Trustee | 8.42yrs | US$184.10k | 0.016% $ 1.1m | |
| Independent Trustee | 3.25yrs | US$190.72k | 0.0085% $ 560.2k | |
| Independent Trustee | 10.58yrs | US$145.41k | 0.027% $ 1.8m |
7.9yrs
Average Tenure
60.5yo
Average Age
Experienced Board: CUBE's board of directors are considered experienced (7.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CUBE insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
CubeSmart's company bio, employee growth, exchange listings and data sources
Key Information
- Name: CubeSmart
- Ticker: CUBE
- Exchange: NYSE
- Founded: 2004
- Industry: Specialized REITs
- Sector: Real Estate
- Implied Market Cap: US$6.583b
- Market Cap: US$6.520b
- Shares outstanding: 195.62m
- Website: https://www.cubesmart.com
Number of Employees
Location
- CubeSmart
- 5 Old Lancaster Road
- Malvern
- Pennsylvania
- 19355
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CUBE | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Oct 2004 |
| UK8 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Oct 2004 |
Biography
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for reside ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/30 23:33 |
| End of Day Share Price | 2020/10/30 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.