CubeSmart downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank downgraded CubeSmart (CUBE) to Sector Perform from Outperform with a price target of $46, down from $52. The firm sees negative estimate revisions and comparably weak relative fundamental performance compared to peers as justification for the stock’s discounted multiple, the analyst tells investors. The firm is updating estimates and price targets post-Q4 earnings as the Self Storage REITs’ guidance missed 2025 FFO per share estimates by about 2%, on average, while CubeSmart missed by about 5%, the analyst added.