Hedgeye CEO Keith McCullough is adding CubeSmart to the long side of Investing Ideas. Below is a brief note.
REITS aren't always for sale... but when they are... we're going to send you buy signals on the names that REITs analyst Rob Simone likes.
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Takeaway: Doubling down on self-storage; adding CUBE as new Best Idea Long Key Takeaways: We are doubling down on self-storage and adding CubeSmart (CUBE) as a new Best Idea Long alongside PSA. This is a "keep it simple and straightforward" type of call: (1) the subsector is highly correlated internally given the submarket overlap and works well in an inflationary environment, (2) CUBE backtests well in each of Quads 2-4, (3) upward earnings revisions are extremely likely and a positive catalyst, and (4) CUBE's balance sheet is a huge strategic and style factor advantage. |
Buyem on red on decelerating volume ahead of Earnings Season,
KM