Paul Adornato, Senior Analyst with BMO Capital Markets covering the real estate investment trust sector, says he particularly likes the storage sector at the moment. One of his top recommended stocks is CubeSmart (CUBE).
“They are one of the premier names in the group; they have about $4 billion in equity cap,” Adornato says. “I think they have the chance to be among the best performers within the storage REIT group because they still have occupancy that is a bit below their peer average.”
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CubeSmart has narrowed the occupancy gap significant over the last few yeas. But, Adornato says there still might be another 200 basis points for them to catch up.
“This is the primary reason why we think CUBE’s same-store numbers might be able to outperform peers,” he says. “We also expect CubeSmart to benefit from the very, very strong self-storage fundamentals.”
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