Sovran Self Storage Inc. (LSI) Upgraded to “Hold” by Zacks Investment Research
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. “
Several other equities analysts also recently weighed in on the company. Jefferies Group restated a buy rating and set a $135.00 price target on shares of Sovran Self Storage in a report on Thursday, August 4th. Citigroup Inc. reduced their price target on Sovran Self Storage from $110.00 to $100.00 and set a neutral rating for the company in a report on Monday, August 15th. DA Davidson dropped their price objective on Sovran Self Storage from $110.00 to $100.00 and set a neutral rating on the stock in a research report on Monday, August 8th. Raymond James Financial Inc. cut Sovran Self Storage from an outperform rating to a market perform rating and set a $124.00 price objective on the stock. in a research report on Friday, August 12th. Finally, Evercore ISI raised Sovran Self Storage from a hold rating to a buy rating and set a $115.00 price objective on the stock in a research report on Friday, June 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $110.68.
Shares of Sovran Self Storage (NYSE:LSI) opened at 87.32 on Wednesday. The stock’s 50 day moving average price is $89.88 and its 200 day moving average price is $101.97. Sovran Self Storage has a 12 month low of $84.36 and a 12 month high of $118.18. The company has a market capitalization of $3.67 billion, a PE ratio of 25.02 and a beta of 0.78.
Sovran Self Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share for the quarter, meeting the consensus estimate of $1.32. Sovran Self Storage had a return on equity of 8.95% and a net margin of 33.62%. The firm earned $107.10 million during the quarter, compared to the consensus estimate of $104.90 million. During the same period last year, the company earned $1.24 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. On average, analysts forecast that Sovran Self Storage will post $5.32 EPS for the current year.
In related news, Director Arthur L. Havener, Jr. bought 352 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average price of $87.07 per share, for a total transaction of $30,648.64. Following the acquisition, the director now owns 2,915 shares in the company, valued at $253,809.05. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Kenneth F. Myszka sold 3,000 shares of Sovran Self Storage stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $90.11, for a total value of $270,330.00. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Canandaigua National Bank & Trust Co. bought a new position in shares of Sovran Self Storage during the third quarter worth approximately $272,000. Nisa Investment Advisors LLC acquired a new position in Sovran Self Storage during the third quarter worth about $907,000. Capstone Asset Management Co. acquired a new position in Sovran Self Storage during the third quarter worth about $481,000. Pensionfund Sabic acquired a new position in Sovran Self Storage during the third quarter worth about $382,000. Finally, Pensionfund DSM Netherlands acquired a new position in Sovran Self Storage during the third quarter worth about $978,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.
About Sovran Self Storage
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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