** Shares of real estate investment trust $(REIT)$ CubeSmart
down 1.32% at $41
** Jefferies downgrades CUBE rating to "hold" from "buy"; cuts price target to $46 from $57, implying a 19% downside to stock's last close
** Brokerage says softening of existing customer rate increases (ECRIs) are likely to impact CUBE's earnings next year
** "We believe CUBE's predominantly urban portfolio may not benefit from the housing recovery to the same extent as its peers," brokerage says
** Stock down 10% in 2024
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
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