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Fly News Breaks for September 10, 2018
CUBE
Sep 10, 2018 | 07:53 EDT
As previously reported, Evercore ISI upgraded CubeSmart to Outperform from In Line and raised its price target to $35 from $33.50. Analyst Steve Sakwa is now assuming a cap rate increase of 25bps for CubeSmart versus up 60bps previously which is more inline with other REITs and reflects a slightly less benign interest rate environment going forward. The analyst also said CubeSmart has underperformed peers over the past 1-3 months and trades at the 2nd lowest AFFO multiple in the storage sector.
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