Jefferies Upgrades CubeSmart: Here's What You Need To Know

Jefferies upgraded its rating of CubeSmart CUBE to Buy with a price target of $53.00, changing its price target from $38.00 to $53.00.

Shares of CubeSmart are trading up 2.07% over the last 24 hours, at $47.31 per share.

A move to $53.00 would account for a 12.03% increase from the current share price.

About CubeSmart

CubeSmart is a real estate investment trust that acquires, owns, and manages self-storage facilities throughout the United States. The company's real estate portfolio is composed of buildings with numerous enclosed storage areas for both residential and commercial customers to rent mainly on a month-by-month basis. Most of CubeSmart's facilities are located in Florida, Texas, California, New York, and Illinois. Cumulatively, these states account for both the majority of the square footage in the company's real estate portfolio and the majority of its revenue. CubeSmart derives nearly all of its revenue from rental income from tenants utilizing its storage facilities.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.