BofA analyst Jeffrey Spector downgraded CubeSmart to Neutral from Buy with a price target of $38, down from $51. While stating that seasonality is a factor, the firm is no longer comfortable assuming demand is “simply normalizing” and is lowering its 2024 estimates for self storage REITS to reflect weaker demand, the analyst tells investors in a research note.
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Read More on CUBE:
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- CubeSmart downgraded to Equal Weight from Overweight at Wells Fargo
- CubeSmart Announces the Date of Its Third Quarter 2023 Earnings Release and Conference Call
