CubeSmart price target lowered to $50 from $54 at Barclays

Barclays lowered the firm’s price target on CubeSmart (CUBE) to $50 from $54 and keeps an Equal Weight rating on the shares as part of a 2025 outlook for the real estate investment trust and U.S. communications infrastructure sectors. The increase in carrier application activity in the second half of 2024 should create a modest improvement in amendment and new lease billings in 2025 and further improvement in 2026 for the towers, the analyst tells investors in a research note. Barclays anticipates new customer rates will bottom in Q1 for self-storage and that the office companies over-index to class A properties and generally have stronger balance sheets than private peers.