Intrinsic value of CubeSmart - CUBE

Previous Close

$24.18

  Intrinsic Value

$2.31

stock screener

  Rating & Target

str. sell

-90%

  Value-price divergence*

+36%

Previous close

$24.18

 
Intrinsic value

$2.31

 
Up/down potential

-90%

 
Rating

str. sell

 
Value-price divergence*

+36%

Our model is not good at valuating stocks of financial companies, such as CUBE.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CUBE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.61
  11.80
  11.12
  10.51
  9.96
  9.46
  9.02
  8.61
  8.25
  7.93
  7.63
  7.37
  7.13
  6.92
  6.73
  6.56
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.40
  5.36
  5.32
Revenue, $m
  510
  570
  634
  700
  770
  843
  919
  998
  1,080
  1,166
  1,255
  1,347
  1,443
  1,543
  1,647
  1,755
  1,867
  1,984
  2,106
  2,233
  2,365
  2,503
  2,647
  2,797
  2,953
  3,117
  3,288
  3,467
  3,654
  3,850
  4,055
Variable operating expenses, $m
 
  263
  292
  323
  355
  388
  424
  460
  498
  537
  578
  621
  665
  711
  759
  809
  861
  915
  971
  1,029
  1,090
  1,154
  1,220
  1,289
  1,361
  1,437
  1,516
  1,598
  1,684
  1,775
  1,869
Fixed operating expenses, $m
 
  138
  142
  145
  149
  153
  157
  160
  164
  169
  173
  177
  182
  186
  191
  196
  200
  205
  211
  216
  221
  227
  232
  238
  244
  250
  257
  263
  270
  276
  283
Total operating expenses, $m
  367
  401
  434
  468
  504
  541
  581
  620
  662
  706
  751
  798
  847
  897
  950
  1,005
  1,061
  1,120
  1,182
  1,245
  1,311
  1,381
  1,452
  1,527
  1,605
  1,687
  1,773
  1,861
  1,954
  2,051
  2,152
Operating income, $m
  143
  169
  200
  232
  266
  301
  339
  377
  418
  460
  504
  549
  596
  646
  697
  750
  806
  864
  925
  988
  1,054
  1,122
  1,194
  1,269
  1,348
  1,430
  1,516
  1,606
  1,700
  1,799
  1,902
EBITDA, $m
  307
  352
  403
  457
  513
  572
  634
  698
  764
  834
  906
  982
  1,060
  1,141
  1,226
  1,314
  1,406
  1,501
  1,601
  1,704
  1,813
  1,926
  2,044
  2,167
  2,296
  2,430
  2,571
  2,719
  2,873
  3,034
  3,204
Interest expense (income), $m
  53
  59
  67
  75
  84
  93
  103
  113
  123
  134
  145
  157
  169
  182
  195
  209
  223
  238
  253
  269
  286
  304
  322
  341
  361
  381
  403
  425
  449
  474
  499
Earnings before tax, $m
  88
  110
  133
  157
  182
  208
  236
  264
  294
  326
  358
  392
  427
  464
  502
  542
  583
  626
  671
  718
  767
  819
  872
  928
  987
  1,049
  1,113
  1,180
  1,251
  1,325
  1,403
Tax expense, $m
  0
  30
  36
  42
  49
  56
  64
  71
  79
  88
  97
  106
  115
  125
  135
  146
  157
  169
  181
  194
  207
  221
  236
  251
  267
  283
  300
  319
  338
  358
  379
Net income, $m
  88
  80
  97
  114
  133
  152
  172
  193
  215
  238
  261
  286
  312
  338
  366
  395
  426
  457
  490
  524
  560
  598
  637
  678
  721
  765
  812
  862
  913
  967
  1,024

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,475
  3,879
  4,310
  4,763
  5,237
  5,733
  6,250
  6,788
  7,348
  7,931
  8,536
  9,165
  9,819
  10,499
  11,205
  11,940
  12,704
  13,499
  14,327
  15,190
  16,089
  17,026
  18,004
  19,025
  20,091
  21,204
  22,368
  23,585
  24,857
  26,188
  27,582
Adjusted assets (=assets-cash), $m
  3,472
  3,879
  4,310
  4,763
  5,237
  5,733
  6,250
  6,788
  7,348
  7,931
  8,536
  9,165
  9,819
  10,499
  11,205
  11,940
  12,704
  13,499
  14,327
  15,190
  16,089
  17,026
  18,004
  19,025
  20,091
  21,204
  22,368
  23,585
  24,857
  26,188
  27,582
Revenue / Adjusted assets
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
  0.147
Average production assets, $m
  3,111
  3,478
  3,864
  4,270
  4,695
  5,140
  5,603
  6,086
  6,588
  7,110
  7,653
  8,217
  8,803
  9,413
  10,046
  10,704
  11,390
  12,103
  12,845
  13,618
  14,424
  15,265
  16,142
  17,057
  18,012
  19,011
  20,054
  21,145
  22,286
  23,479
  24,728
Working capital, $m
  0
  -3
  -4
  -4
  -5
  -5
  -6
  -6
  -6
  -7
  -8
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
Total debt, $m
  1,596
  1,808
  2,034
  2,272
  2,520
  2,780
  3,051
  3,333
  3,626
  3,932
  4,249
  4,579
  4,921
  5,277
  5,647
  6,032
  6,433
  6,849
  7,283
  7,735
  8,206
  8,698
  9,210
  9,745
  10,304
  10,887
  11,497
  12,134
  12,801
  13,499
  14,229
Total liabilities, $m
  1,820
  2,032
  2,258
  2,496
  2,744
  3,004
  3,275
  3,557
  3,850
  4,156
  4,473
  4,803
  5,145
  5,501
  5,871
  6,256
  6,657
  7,073
  7,507
  7,959
  8,430
  8,922
  9,434
  9,969
  10,528
  11,111
  11,721
  12,358
  13,025
  13,723
  14,453
Total equity, $m
  1,655
  1,846
  2,052
  2,267
  2,493
  2,729
  2,975
  3,231
  3,498
  3,775
  4,063
  4,363
  4,674
  4,997
  5,334
  5,683
  6,047
  6,426
  6,820
  7,230
  7,658
  8,104
  8,570
  9,056
  9,563
  10,093
  10,647
  11,226
  11,832
  12,466
  13,129
Total liabilities and equity, $m
  3,475
  3,878
  4,310
  4,763
  5,237
  5,733
  6,250
  6,788
  7,348
  7,931
  8,536
  9,166
  9,819
  10,498
  11,205
  11,939
  12,704
  13,499
  14,327
  15,189
  16,088
  17,026
  18,004
  19,025
  20,091
  21,204
  22,368
  23,584
  24,857
  26,189
  27,582
Debt-to-equity ratio
  0.964
  0.980
  0.990
  1.000
  1.010
  1.020
  1.030
  1.030
  1.040
  1.040
  1.050
  1.050
  1.050
  1.060
  1.060
  1.060
  1.060
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
Adjusted equity ratio
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  88
  80
  97
  114
  133
  152
  172
  193
  215
  238
  261
  286
  312
  338
  366
  395
  426
  457
  490
  524
  560
  598
  637
  678
  721
  765
  812
  862
  913
  967
  1,024
Depreciation, amort., depletion, $m
  164
  183
  203
  225
  247
  271
  295
  320
  347
  374
  403
  432
  463
  495
  529
  563
  599
  637
  676
  717
  759
  803
  850
  898
  948
  1,001
  1,055
  1,113
  1,173
  1,236
  1,301
Funds from operations, $m
  270
  263
  300
  339
  380
  423
  467
  513
  562
  612
  664
  719
  775
  834
  895
  959
  1,025
  1,094
  1,166
  1,241
  1,319
  1,401
  1,486
  1,575
  1,669
  1,766
  1,868
  1,975
  2,086
  2,203
  2,326
Change in working capital, $m
  6
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Cash from operations, $m
  264
  264
  301
  340
  380
  423
  467
  514
  562
  612
  665
  719
  776
  834
  896
  959
  1,026
  1,095
  1,167
  1,242
  1,320
  1,402
  1,487
  1,576
  1,670
  1,767
  1,869
  1,976
  2,087
  2,204
  2,327
Maintenance CAPEX, $m
  0
  -164
  -183
  -203
  -225
  -247
  -271
  -295
  -320
  -347
  -374
  -403
  -432
  -463
  -495
  -529
  -563
  -599
  -637
  -676
  -717
  -759
  -803
  -850
  -898
  -948
  -1,001
  -1,055
  -1,113
  -1,173
  -1,236
New CAPEX, $m
  -398
  -367
  -387
  -406
  -425
  -444
  -463
  -483
  -502
  -522
  -543
  -564
  -586
  -609
  -633
  -659
  -685
  -713
  -742
  -773
  -806
  -840
  -877
  -915
  -956
  -998
  -1,043
  -1,091
  -1,141
  -1,194
  -1,249
Cash from investing activities, $m
  -544
  -531
  -570
  -609
  -650
  -691
  -734
  -778
  -822
  -869
  -917
  -967
  -1,018
  -1,072
  -1,128
  -1,188
  -1,248
  -1,312
  -1,379
  -1,449
  -1,523
  -1,599
  -1,680
  -1,765
  -1,854
  -1,946
  -2,044
  -2,146
  -2,254
  -2,367
  -2,485
Free cash flow, $m
  -280
  -267
  -269
  -270
  -270
  -268
  -266
  -264
  -260
  -257
  -252
  -248
  -243
  -238
  -233
  -228
  -223
  -218
  -213
  -208
  -203
  -198
  -193
  -188
  -184
  -179
  -175
  -171
  -166
  -162
  -158
Issuance/(repayment) of debt, $m
  305
  212
  226
  237
  249
  260
  271
  282
  294
  305
  317
  330
  343
  356
  370
  385
  400
  417
  434
  452
  471
  491
  512
  535
  559
  583
  610
  638
  667
  698
  730
Issuance/(repurchase) of shares, $m
  72
  114
  108
  101
  93
  84
  74
  63
  52
  40
  27
  13
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  377
  326
  334
  338
  342
  344
  345
  345
  346
  345
  344
  343
  343
  356
  370
  385
  400
  417
  434
  452
  471
  491
  512
  535
  559
  583
  610
  638
  667
  698
  730
Total cash flow (excl. dividends), $m
  96
  59
  65
  69
  72
  75
  78
  82
  85
  88
  92
  95
  100
  118
  137
  157
  178
  199
  221
  244
  268
  293
  319
  347
  375
  404
  435
  467
  500
  535
  572
Retained Cash Flow (-), $m
  -12
  -194
  -205
  -216
  -226
  -236
  -246
  -256
  -267
  -277
  -288
  -299
  -311
  -323
  -336
  -350
  -364
  -379
  -394
  -411
  -428
  -446
  -466
  -486
  -507
  -530
  -554
  -579
  -606
  -634
  -663
Prev. year cash balance distribution, $m
 
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -132
  -140
  -147
  -154
  -161
  -168
  -175
  -182
  -189
  -196
  -204
  -212
  -205
  -199
  -193
  -186
  -180
  -173
  -166
  -159
  -153
  -146
  -139
  -133
  -126
  -119
  -112
  -105
  -98
  -91
Discount rate, %
 
  8.20
  8.61
  9.04
  9.49
  9.97
  10.47
  10.99
  11.54
  12.12
  12.72
  13.36
  14.02
  14.73
  15.46
  16.24
  17.05
  17.90
  18.79
  19.73
  20.72
  21.76
  22.84
  23.99
  25.19
  26.45
  27.77
  29.16
  30.61
  32.15
  33.75
PV of cash for distribution, $m
 
  -122
  -119
  -113
  -107
  -100
  -92
  -84
  -76
  -68
  -59
  -51
  -44
  -34
  -27
  -20
  -15
  -11
  -8
  -5
  -4
  -2
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  97.4
  95.3
  93.5
  92.1
  90.9
  90.0
  89.3
  88.7
  88.4
  88.1
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0

CubeSmart is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in ownership, operation, acquisition and development of self-storage facilities. The firm was formerly known as U-Store-It Trust. CubeSmart was founded in July 2004 and is based in Malvern, Pennsylvania.

FINANCIAL RATIOS  of  CubeSmart (CUBE)

Valuation Ratios
P/E Ratio 49.5
Price to Sales 8.5
Price to Book 2.6
Price to Tangible Book
Price to Cash Flow 16.5
Price to Free Cash Flow -32.5
Growth Rates
Sales Growth Rate 14.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 32.7%
Cap. Spend. - 3 Yr. Gr. Rate 14.5%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 96.4%
Total Debt to Equity 96.4%
Interest Coverage 3
Management Effectiveness
Return On Assets 4.3%
Ret/ On Assets - 3 Yr. Avg. 3.8%
Return On Total Capital 2.9%
Ret/ On T. Cap. - 3 Yr. Avg. 2.3%
Return On Equity 5.3%
Return On Equity - 3 Yr. Avg. 4.1%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 67.5%
Gross Margin - 3 Yr. Avg. 65.9%
EBITDA Margin 59.8%
EBITDA Margin - 3 Yr. Avg. 59%
Operating Margin 28%
Oper. Margin - 3 Yr. Avg. 24.7%
Pre-Tax Margin 17.3%
Pre-Tax Margin - 3 Yr. Avg. 14%
Net Profit Margin 17.3%
Net Profit Margin - 3 Yr. Avg. 13.9%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 177.3%

CUBE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CUBE stock intrinsic value calculation we used $510 million for the last fiscal year's total revenue generated by CubeSmart. The default revenue input number comes from 2016 income statement of CubeSmart. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CUBE stock valuation model: a) initial revenue growth rate of 11.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.2%, whose default value for CUBE is calculated based on our internal credit rating of CubeSmart, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of CubeSmart.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CUBE stock the variable cost ratio is equal to 46.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $135 million in the base year in the intrinsic value calculation for CUBE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.7% for CubeSmart.

Corporate tax rate of 27% is the nominal tax rate for CubeSmart. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CUBE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CUBE are equal to 609.9%.

Life of production assets of 19 years is the average useful life of capital assets used in CubeSmart operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CUBE is equal to -0.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1655 million for CubeSmart - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 179.45 million for CubeSmart is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of CubeSmart at the current share price and the inputted number of shares is $4.3 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Storage War Winner   [Aug-15-17 11:21AM  Forbes]
▶ 3 Dividends With 100%+ Upside   [Jul-31-17 05:56AM  Harvest Exchange]
▶ Investor Network: CubeSmart to Host Earnings Call   [Jul-28-17 09:10AM  ACCESSWIRE]
▶ CubeSmart reports 2Q results   [Jul-27-17 09:58PM  Associated Press]
▶ CubeSmart Declares Third Quarter 2017 Dividend   [Jul-25-17 04:05PM  GlobeNewswire]
▶ CubeSmart Declares Second Quarter 2017 Dividend   [May-31-17 04:00PM  GlobeNewswire]
▶ CubeSmart reports 1Q results   [Apr-27-17 05:08PM  Associated Press]
▶ [$$] US Aggregate index changes spur upsized bond sales   [Apr-04-17 12:17PM  Financial Times]
▶ [$$] Seven REITs With Strong Earnings   [Feb-27-17 03:13PM  at Barrons.com]
▶ CubeSmart reports 4Q results   [Feb-16-17 05:24PM  Associated Press]
▶ CubeSmart Declares First Quarter 2017 Dividend   [Feb-14-17 04:00PM  Marketwired]
▶ 2 High-Yield Dividend Stocks You Definitely Want to Consider   [Dec-29-16 12:39PM  at Motley Fool]
▶ A "Trump Windfall" Will Lift These Dividends 100%   [Dec-14-16 10:34AM  at Forbes]
▶ Is CubeSmart (CUBE) A Good Stock To Buy?   [Dec-02-16 12:30PM  at Insider Monkey]
▶ 10 Most Successful Hedge Fund Managers and Their Stock Picks   [Oct-01-16 10:22AM  at Insider Monkey]
Stock chart of CUBE Financial statements of CUBE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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