Why CubeSmart Stock Jumped Nearly 13% in May
Shares of CubeSmart (NYSE: CUBE), a self-storage real estate investment trust (REIT), rose just under 13% in May, according to data from S&P Global Market Intelligence. That advance left the stock down just about 10% through the first five months of 2020 -- not exactly great, noting that the S&P 500 Index was down about 5% over the same span.
The truth is, compared with some property types, including retail, hotels, and entertainment, CubeSmart's stock has performed incredibly well. Since operating self-storage facilities doesn't particularly involve lots of ongoing interaction with customers, it hasn't been hit as hard by the efforts to contain the spread of COVID-19. In fact, self storage was actually designated an essential business, which allowed the REIT to continue to operate throughout the lockdown.
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Source Fool.com
