Raymond James analyst Jonathan Hughes lowered the firm’s price target on CubeSmart to $48 from $58 and keeps a Strong Buy rating on the shares. CubeSmart remains the analyst’s top self storage REIT pick due to comps in 2023 driving the potential for better relative performance vs. peers and its attractive valuation, Hughes tells investors in a research note. Its smaller size makes any external growth more impactful, the analyst contends.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CUBE:
- CubeSmart cut to Hold at Jefferies as part of Self Storage REIT sector downgrade
- CubeSmart downgraded to Hold from Buy at Jefferies
- CubeSmart raises annual dividend rate 14% to $1.96 per share
- CubeSmart Announces 14.0% Increase in Quarterly Common Dividend
- CubeSmart price target lowered to $46 from $53 at Truist