BMO downgrades storage REIT CubeSmart to 'market perform', cuts PT
29/05/2024 13:10
** BMO Equity Research lowers rating of self-storage REIT
CubeSmart CUBE.N to "market perform" from "outperform"
** Cuts PT to $47 from $50, representing 13% upside to
stock's last close
** Brokerage cites its cautious stance on storage REIT
sector fundamentals on intense price competition
** Sees downside risk to the overall sector and CUBE's
same-store guidance with Q2 results
** Three brokerages rate the stock "buy" or higher, eleven
"hold" and one "sell"; their median PT is $47.00 - LSEG data
** Stock had fallen 10.4% YTD
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))