Ki Bin Kim, an analyst from Truist Financial, maintained the Buy rating on Cubesmart. The associated price target is $48.00.
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Ki Bin Kim has given his Buy rating due to a combination of factors including Cubesmart’s relative valuation and operational performance. Despite a significant decline in self-storage stock prices, Cubesmart’s results were slightly better than anticipated, and the company is trading at a valuation discount compared to its peers. This makes it an attractive investment opportunity at a 15x 2025 P/FFO ratio, suggesting that market expectations for Cubesmart are already conservative.
Additionally, Cubesmart has shown signs of stabilization in its operations, with improvements in net rental activity and move-in rate trends. The company also raised its 2025 FFO per share guidance, although slightly below the Street’s expectations, and improved its full-year SSNOI guidance. These factors, combined with a better balance sheet, contribute to a positive outlook for Cubesmart, justifying the Buy rating.
According to TipRanks, Bin Kim is a 4-star analyst with an average return of 7.4% and a 59.38% success rate. Bin Kim covers the Real Estate sector, focusing on stocks such as Cubesmart, Prologis, and Public Storage.