Sovran Self Storage Inc. (NYSE:LSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Life Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust which acquires and manages self-storage properties. The company’s brand name consists of Life Storage(R) and Uncle Bob’s Self Storage(R). Life Storage, Inc., formerly known as Sovran Self Storage, Inc., is headquartered in Buffalo, New York. “
Other analysts also recently issued reports about the company. Citigroup Inc. upgraded Sovran Self Storage from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $105.00 in a research note on Friday, September 9th. Jefferies Group reiterated a “buy” rating and set a $135.00 price target on shares of Sovran Self Storage in a research note on Thursday, August 4th. Evercore ISI upgraded Sovran Self Storage from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Friday, June 24th. Raymond James Financial Inc. downgraded Sovran Self Storage from an “outperform” rating to a “market perform” rating and set a $124.00 price target for the company. in a research note on Friday, August 12th. Finally, FBR & Co assumed coverage on Sovran Self Storage in a research note on Wednesday, June 22nd. They set a “market perform” rating and a $106.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $110.68.
Sovran Self Storage (NYSE:LSI) opened at 86.83 on Wednesday. The company has a market cap of $3.65 billion, a P/E ratio of 24.88 and a beta of 0.78. Sovran Self Storage has a 52-week low of $84.36 and a 52-week high of $118.18. The company’s 50 day moving average price is $89.84 and its 200 day moving average price is $101.86.
Sovran Self Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.32. The company earned $107.10 million during the quarter, compared to the consensus estimate of $104.90 million. Sovran Self Storage had a return on equity of 8.95% and a net margin of 33.62%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the business posted $1.24 EPS. Equities research analysts anticipate that Sovran Self Storage will post $5.32 EPS for the current fiscal year.
In related news, President Kenneth F. Myszka sold 5,000 shares of Sovran Self Storage stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $92.26, for a total value of $461,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen R. Rusmisel purchased 500 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average cost of $92.93 per share, for a total transaction of $46,465.00. Following the acquisition, the director now directly owns 4,012 shares in the company, valued at approximately $372,835.16. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. MSI Financial Services Inc bought a new stake in Sovran Self Storage during the third quarter worth approximately $200,000. Creative Planning bought a new stake in Sovran Self Storage during the third quarter worth approximately $234,000. Canandaigua National Bank & Trust Co. bought a new stake in Sovran Self Storage during the third quarter worth approximately $272,000. Pensionfund Sabic bought a new stake in Sovran Self Storage during the third quarter worth approximately $382,000. Finally, Capstone Asset Management Co. bought a new stake in Sovran Self Storage during the third quarter worth approximately $481,000. 89.46% of the stock is currently owned by institutional investors.
Sovran Self Storage Company Profile
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
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