Sovran Self Storage Inc. (LSI) to Post FY2016 Earnings of $5.19 Per Share, DA Davidson Forecasts
Sovran Self Storage Inc. (NYSE:LSI) – Equities researchers at DA Davidson decreased their FY2016 EPS estimates for shares of Sovran Self Storage in a research report issued to clients and investors on Thursday. DA Davidson analyst B. Oxford now anticipates that the brokerage will post earnings of $5.19 per share for the year, down from their previous estimate of $5.34. DA Davidson currently has a “Hold” rating on the stock. DA Davidson also issued estimates for Sovran Self Storage’s Q4 2016 earnings at $1.31 EPS, Q1 2017 earnings at $1.35 EPS, Q2 2017 earnings at $1.38 EPS, Q3 2017 earnings at $1.40 EPS and FY2018 earnings at $5.97 EPS.
A number of other research analysts have also commented on LSI. KeyCorp lowered Sovran Self Storage from a “sector weight” rating to an “underweight” rating and set a $84.00 price objective on the stock. in a report on Thursday, August 4th. Cantor Fitzgerald set a $108.00 price objective on Sovran Self Storage and gave the company a “buy” rating in a report on Wednesday, November 2nd. FBR & Co increased their price objective on Sovran Self Storage from $95.00 to $105.00 and gave the company a “mkt perform” rating in a report on Thursday, November 3rd. TheStreet lowered Sovran Self Storage from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Finally, Citigroup Inc. raised Sovran Self Storage from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $105.00 in a report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $104.50.
Shares of Sovran Self Storage (NYSE:LSI) opened at 81.25 on Friday. The company’s 50 day moving average price is $85.09 and its 200 day moving average price is $97.12. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 34.21 and a beta of 0.62. Sovran Self Storage has a 52-week low of $77.00 and a 52-week high of $118.18.
Sovran Self Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $1.20. The business had revenue of $127.80 million for the quarter, compared to analyst estimates of $122.29 million. Sovran Self Storage had a return on equity of 5.62% and a net margin of 22.63%. The business’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 EPS.
In other Sovran Self Storage news, President Kenneth F. Myszka sold 3,000 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur L. Havener, Jr. acquired 352 shares of Sovran Self Storage stock in a transaction on Friday, August 26th. The stock was purchased at an average price of $87.07 per share, with a total value of $30,648.64. Following the transaction, the director now directly owns 2,915 shares in the company, valued at approximately $253,809.05. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in LSI. New Mexico Educational Retirement Board purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $576,000. Spirit of America Management Corp NY purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $2,819,000. MSI Financial Services Inc purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $200,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $272,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $907,000. Institutional investors own 90.00% of the company’s stock.
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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