Barclays upgrades CubeSmart, downgrades Public Storage on relative valuation

Analyst
โดย Investing.com·Read original
Summary · why it matters

Barclays upgraded CubeSmart to Overweight from Equal Weight and downgraded Public Storage to Equal Weight from Overweight, citing relative valuations after CubeSmart's weaker year-to-date performance. The brokerage maintained its Overweight rating on Extra Space Storage. Barclays raised its price target on CubeSmart to $46 from $45, noting the company's urban-heavy portfolio and improving move-in trends, while leaving its $349 target on Public Storage unchanged. It also lifted its target on Extra Space Storage to $172 from $170, pointing to stronger move-in rates and growth from its third-party management platform.

Impact on stocks 3

Real Estate± Mixed · 3 stocks
CubeSmart
CUBE
▲ PositiveCapitalrelevance

Barclays upgraded CubeSmart to Overweight and raised price target, citing relative valuation and improving move-in trends.

Extra Space Storage Inc
EXR
▲ PositiveCapitalrelevance

Barclays maintained Overweight rating on Extra Space Storage and raised price target, pointing to stronger move-in rates and third-party management growth.

Public Storage
PSA
▼ NegativeCapitalrelevance

Barclays downgraded Public Storage to Equal Weight from Overweight, citing relative valuation.

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