CubeSmart ticks lower amid Hedgeye short idea

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• CubeSmart (NYSE:CUBE) ticked down 0.4% amid a new short idea from Hedgeye, which sees the potential for a "miss" on FY23 outlook when it reports Q4 results.
• The possible miss would follow Extra Space Storage's (EXR) miss on FY22 along with its Q3 results, Hedgeye analyst Rob Simone wrote in a note on Tuesday.
• "CUBE is the only name among the five self-storage REITs that has yet to see any downward revisions to forward four-quarter FFO estimates post-3Q22," according to SImone. "EXR has clearly and very logically seen the most severe revisions."
• CubeSmart (CUBE) short interest is 3.6%.
• Last Tuesday CubeSmart (CUBE) and Life Storage (LSI) were cut to hold at Jefferies as self-storage prospects dim.