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Fly News Breaks for March 2, 2018
CUBE
Mar 2, 2018 | 06:32 EDT
As reported earlier, BMO Capital analyst R. Jeremy Metz upgraded CubeSmart to Outperform from Market Perform and raised his price target to $30 from $27. Metz states that similar to peers, the REIT's growth rate is decelerating on new supply conditions, particularly in the company's largest market New York. The analyst believes however that CubeSmart's guidance will prove conservative as it benefits from the "industry's leading revenue management platforms", and growth will bottom into the end of FY18 and FY19 as the outlook for NYC improves.