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Fly News Breaks for May 8, 2018
CUBE
May 8, 2018 | 07:41 EDT
As reported earlier, BofA/Merrill analyst Juan Sanabria upgraded CubeSmart to Neutral from Underperform and raised his price target to $32 from $29. The analyst notes that while the REIT has the "highest relative exposure" to rising supply, its "strong platform has helped it drive better than expected results". Sanabria further contends that the company has favorable portfolio demographics given its exposure to the New York City market where Mayor DeBlasio is expected to limit new development.