Cubesmart, the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Juan C. Sanabria from BMO Capital maintained a Buy rating on the stock and has a $49.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Juan C. Sanabria has given his Buy rating due to a combination of factors that highlight Cubesmart’s performance and potential. The company’s recent earnings report showed solid results, with earnings and same-store sales surpassing expectations. Notably, the New York market outperformed, and the decline in move-in rates was less severe than anticipated.
Furthermore, Cubesmart’s management has adjusted its guidance upwards, reflecting robust cost control measures, even though the guidance remains slightly below that of its peers. Despite a general sell-off in storage shares, Cubesmart’s relative stability and defensive market position make it an attractive investment. The company’s adjusted funds from operations (FFO) exceeded both Street and BMO estimates, reinforcing confidence in its financial health and future performance.
C. Sanabria covers the Real Estate sector, focusing on stocks such as Simon Property, Cubesmart, and Public Storage. According to TipRanks, C. Sanabria has an average return of 0.1% and a 45.72% success rate on recommended stocks.
In another report released yesterday, Truist Financial also maintained a Buy rating on the stock with a $48.00 price target.