CubeSmart
Market Cap
US$7.2b
Last Updated
2021/02/23 23:38 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 and slightly overvalued.
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 is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: CUBE's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
5.1%
CUBE
1.4%
US REITs
-2.5%
US Market
1 Year Return
19.1%
CUBE
-6.2%
US REITs
34.1%
US Market
Return vs Industry: CUBE exceeded the US REITs industry which returned -6.2% over the past year.
Return vs Market: CUBE underperformed the US Market which returned 34.1% over the past year.
Shareholder returns
| CUBE | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.1% | 1.4% | -2.5% |
| 30 Day | 7.5% | 4.6% | 0.1% |
| 90 Day | 15.0% | 4.9% | 4.5% |
| 1 Year | 24.6%19.1% | -1.8%-6.2% | 37.1%34.1% |
| 3 Year | 60.0%41.1% | 41.4%24.3% | 58.0%47.9% |
| 5 Year | 49.0%22.1% | 57.0%25.4% | 131.9%106.2% |
Long-Term 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
2 weeks ago | Simply Wall St
Have Insiders Been Selling CubeSmart (NYSE:CUBE) Shares?10 months ago | Simply Wall St
Did You Manage To Avoid CubeSmart's (NYSE:CUBE) 17% Share Price Drop?1 year ago | Simply Wall St
CubeSmart Full-Year Results Just Came Out: Here's What Analysts Are Forecasting For Next YearValuation
Is CubeSmart undervalued compared to its fair value and its price relative to the market?
28.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CUBE ($37.6) is trading below our estimate of fair value ($52.58)
Significantly Below Fair Value: CUBE is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CUBE is poor value based on its PE Ratio (44x) compared to the US REITs industry average (43.4x).
PE vs Market: CUBE is poor value based on its PE Ratio (44x) compared to the US market (21.5x).
Price to Earnings Growth Ratio
PEG Ratio: CUBE is poor value based on its PEG Ratio (4.3x)
Price to Book Ratio
PB vs Industry: CUBE is overvalued based on its PB Ratio (4.2x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is CubeSmart forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
10.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CUBE's forecast earnings growth (10.3% per year) is above the savings rate (2%).
Earnings vs Market: CUBE's earnings (10.3% per year) are forecast to grow slower than the US market (20.4% per year).
High Growth Earnings: CUBE's earnings are forecast to grow, but not significantly.
Revenue vs Market: CUBE's revenue (7.1% per year) is forecast to grow slower than the US market (10.5% per year).
High Growth Revenue: CUBE's revenue (7.1% 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 (7.5%).
Next Steps
Past Performance
How has CubeSmart performed over the past 5 years?
19.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CUBE has high quality earnings.
Growing Profit Margin: CUBE's current net profit margins (24.4%) are lower than last year (27.7%).
Past Earnings Growth Analysis
Earnings Trend: CUBE's earnings have grown by 19.9% 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 (-5.6%) over the past year, making it difficult to compare to the REITs industry average (-5.6%).
Return on Equity
High ROE: CUBE's Return on Equity (9.2%) is considered low.
Next Steps
Financial Health
How is CubeSmart's financial position?
Financial Position Analysis
Short Term Liabilities: CUBE's short term assets ($19.9M) do not cover its short term liabilities ($169.9M).
Long Term Liabilities: CUBE's short term assets ($19.9M) do not cover its long term liabilities ($2.0B).
Debt to Equity History and Analysis
Debt Level: CUBE's debt to equity ratio (108.5%) is considered high.
Reducing Debt: CUBE's debt to equity ratio has increased from 74.5% to 108.5% over the past 5 years.
Debt Coverage: CUBE's debt is not well covered by operating cash flow (17.3%).
Interest Coverage: CUBE's interest payments on its debt are well covered by EBIT (3.3x coverage).
Balance Sheet
Next Steps
Dividend
What is CubeSmart current dividend yield, its reliability and sustainability?
3.62%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CUBE's dividend (3.62%) is higher than the bottom 25% of dividend payers in the US market (1.34%).
High Dividend: CUBE's dividend (3.62%) is low compared to the top 25% of dividend payers in the US market (3.75%).
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 (77.3%), 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 (70.9% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
7.1yrs
Average management tenure
CEO
Chris Marr (55 yo)
7.08yrs
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 ($USD6.21M).
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 | 7.08yrs | US$5.36m | 0.28% $ 20.5m | |
| CFO & Treasurer | 12.25yrs | US$2.01m | 0.11% $ 7.8m | |
| Chief Operating Officer | 1.25yrs | US$1.26m | 0.020% $ 1.4m | |
| Senior VP | 12yrs | US$1.35m | 0.073% $ 5.3m | |
| Director | 7.08yrs | no data | no data | |
| Vice President of Marketing | 7yrs | no data | no data | |
| Vice President of Operations | 20.08yrs | no data | no data | |
| Vice President of Operations | 14.42yrs | no data | no data | |
| Vice President of Third-Party Management | 7yrs | no data | no data | |
| Director of Financial Analysis | no data | no data | no data |
7.1yrs
Average Tenure
49.5yo
Average Age
Experienced Management: CUBE's management team is seasoned and experienced (7.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Trustee | 7.08yrs | US$5.36m | 0.28% $ 20.5m | |
| Independent Trustee | 10.08yrs | US$152.95k | 0.021% $ 1.5m | |
| Independent Trustee | 7.75yrs | US$155.41k | 0.012% $ 895.6k | |
| Independent Trustee | 11.25yrs | US$146.66k | 0.031% $ 2.2m | |
| Independent Chairman of the Board | 2.75yrs | US$161.66k | 0.024% $ 1.7m | |
| Independent Trustee | 8.75yrs | US$184.10k | 0.016% $ 1.2m | |
| Independent Trustee | 3.58yrs | US$190.72k | 0.0084% $ 607.4k | |
| Independent Trustee | 11yrs | US$145.41k | 0.027% $ 1.9m |
8.3yrs
Average Tenure
60.5yo
Average Age
Experienced Board: CUBE's board of directors are considered experienced (8.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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$7.188b
- Market Cap: US$7.110b
- Shares outstanding: 197.42m
- 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 | 2021/02/23 23:38 |
| End of Day Share Price | 2021/02/23 00:00 |
| Earnings | 2020/09/30 |
| 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.