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CUBE

CubeSmartNYSE:CUBE Stock Report

Market Cap

US$11.1b

7D

2.0%

1Y

55.1%

Updated

23 Oct, 2021

Data

Company Financials +
CUBE fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance3/6
Financial Health1/6
Dividends5/6

CUBE Overview

CubeSmart is a self-administered and self-managed real estate investment trust.

CubeSmart Competitors

Price History & Performance

Summary of all time highs, changes and price drops for CubeSmart
Historical stock prices
Current Share PriceUS$53.15
52 Week HighUS$31.16
52 Week LowUS$55.07
Beta0.34
1 Month Change4.63%
3 Month Change8.51%
1 Year Change55.09%
3 Year Change87.08%
5 Year Change108.51%
Change since IPO217.69%

Recent News & Updates

Oct 01

CubeSmart Is A Terrific REIT

CubeSmart is one of the smaller public self-storage REITs with a fantastic track record and prime real estate. Especially in the NY/NJ area. The company has a healthy balance sheet and the ability to aggressively expand its footprint in self-storage. Its valuation is attractive and long-term dividend growth makes this an interesting income play.

Aug 26

CubeSmart: Shares Look Fairly Valued

CubeSmart is a quality company, and its performance as of late has been impressive. Long term, the business should fare well for investors, but this doesn't make it a great investment. It probably will generate a positive return over time, but shares are definitely pricey and may underperform the market near term.

Aug 11
With EPS Growth And More, CubeSmart (NYSE:CUBE) Is Interesting

With EPS Growth And More, CubeSmart (NYSE:CUBE) Is Interesting

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Shareholder Returns

CUBEUS REITsUS Market
7D2.0%2.2%1.7%
1Y55.1%35.3%30.3%

Return vs Industry: CUBE exceeded the US REITs industry which returned 35.3% over the past year.

Return vs Market: CUBE exceeded the US Market which returned 30.3% over the past year.

Price Volatility

Is CUBE's price volatile compared to industry and market?
CUBE volatility
CUBE Beta0.34
Industry Beta0.84
Market Beta1

Stable Share Price: CUBE is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: CUBE's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20043,111Chris Marrhttps://www.cubesmart.com

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 residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

CubeSmart Fundamentals Summary

How do CubeSmart's earnings and revenue compare to its market cap?
CUBE fundamental statistics
Market CapUS$11.11b
Earnings (TTM)US$179.70m
Revenue (TTM)US$740.08m

61.8x

P/E Ratio

15.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CUBE income statement (TTM)
RevenueUS$740.08m
Cost of RevenueUS$220.63m
Gross ProfitUS$519.45m
ExpensesUS$339.75m
EarningsUS$179.70m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 04, 2021

Earnings per share (EPS)0.86
Gross Margin70.19%
Net Profit Margin24.28%
Debt/Equity Ratio101.3%

How did CUBE perform over the long term?

See historical performance and comparison

Dividends

2.6%

Current Dividend Yield

72%

Payout Ratio

Valuation

Is CubeSmart undervalued compared to its fair value and its price relative to the market?

26.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CUBE ($53.15) is trading below our estimate of fair value ($71.97)

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 (61.8x) compared to the US REITs industry average (51.9x).

PE vs Market: CUBE is poor value based on its PE Ratio (61.8x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: CUBE is poor value based on its PEG Ratio (6.6x)


Price to Book Ratio

PB vs Industry: CUBE is overvalued based on its PB Ratio (6x) compared to the US REITs industry average (2.1x).


Future Growth

How is CubeSmart forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

9.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CUBE's forecast earnings growth (9.4% per year) is above the savings rate (2%).

Earnings vs Market: CUBE's earnings (9.4% per year) are forecast to grow slower than the US market (14.9% per year).

High Growth Earnings: CUBE's earnings are forecast to grow, but not significantly.

Revenue vs Market: CUBE's revenue (6.5% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: CUBE's revenue (6.5% 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 (11.2%).


Past Performance

How has CubeSmart performed over the past 5 years?

13.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CUBE has high quality earnings.

Growing Profit Margin: CUBE's current net profit margins (24.3%) are lower than last year (24.3%).


Past Earnings Growth Analysis

Earnings Trend: CUBE's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: CUBE's earnings growth over the past year (11.9%) is below its 5-year average (13.5% per year).

Earnings vs Industry: CUBE earnings growth over the past year (11.9%) exceeded the REITs industry 8.3%.


Return on Equity

High ROE: CUBE's Return on Equity (8.4%) is considered low.


Financial Health

How is CubeSmart's financial position?


Financial Position Analysis

Short Term Liabilities: CUBE's short term assets ($40.3M) do not cover its short term liabilities ($187.2M).

Long Term Liabilities: CUBE's short term assets ($40.3M) do not cover its long term liabilities ($2.4B).


Debt to Equity History and Analysis

Debt Level: CUBE's debt to equity ratio (101.3%) is considered high.

Reducing Debt: CUBE's debt to equity ratio has increased from 80.8% to 101.3% over the past 5 years.

Debt Coverage: CUBE's debt is not well covered by operating cash flow (17.1%).

Interest Coverage: CUBE's interest payments on its debt are well covered by EBIT (3.4x coverage).


Balance Sheet


Dividend

What is CubeSmart current dividend yield, its reliability and sustainability?

2.56%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CUBE's dividend (2.56%) is higher than the bottom 25% of dividend payers in the US market (1.29%).

High Dividend: CUBE's dividend (2.56%) is low compared to the top 25% of dividend payers in the US market (3.47%).


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: With its reasonable payout ratio (72.4%), CUBE's dividend 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 (61.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.8yrs

Average management tenure


CEO

Chris Marr (56 yo)

7.75yrs

Tenure

US$5,968,975

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 ($USD5.97M) is below average for companies of similar size in the US market ($USD11.15M).

Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CUBE's management team is seasoned and experienced (7.8 years average tenure).


Board Members

Experienced Board: CUBE's board of directors are considered experienced (8.9 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.9%.


Top Shareholders

Company Information

CubeSmart's 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$11.111b
  • Market Cap: US$10.724b
  • Shares outstanding: 209.05m
  • Website: https://www.cubesmart.com

Number of Employees


Location

  • CubeSmart
  • 5 Old Lancaster Road
  • Malvern
  • Pennsylvania
  • 19355
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/23 22:12
End of Day Share Price2021/10/22 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.