CubeSmart (CUBE) traded on unusually high volume on Dec. 06, as the stock gained 3.09% to close at $32.39. On the day, CubeSmart saw 2.2 million shares trade hands on 16,887 trades. Considering that the stock averages only a daily volume of 1.44 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $33.18 and $25.22 over the last 52-weeks, its 50-day SMA is now $28.91, and its 200-day SMA $29.14. CubeSmart has a P/B ratio of 3.56. It also has a P/E ratio of 37.
CubeSmart is a real estate investment trust that acquires, owns, and manages self-storage facilities throughout the United States. The company’s real estate portfolio is composed of buildings with numerous enclosed storage areas for both residential and commercial customers to rent mainly on a month-by-month basis. Most of CubeSmart’s facilities are located in Florida, Texas, California, New York, and Illinois. Cumulatively, theses states account for both the majority of the square footage in the company’s real estate portfolio and the majority of its revenue. CubeSmart derives nearly all of its revenue from rental income from tenants utilizing its storage facilities. No single customer represents a significant concentration of the company’s revenue.
Headquartered in Malvern, PA, CubeSmart has 2,508 employees and is currently under the leadership of CEO Christopher P. Marr.