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 research firms have also recently weighed in on LSI. Raymond James Financial Inc. cut Sovran Self Storage from an outperform rating to a market perform rating and set a $124.00 target price on the stock. in a research note on Friday, August 12th. Citigroup Inc. raised Sovran Self Storage from a neutral rating to a buy rating and lifted their target price for the company from $100.00 to $105.00 in a research note on Friday, September 9th. BMO Capital Markets reaffirmed a buy rating and set a $96.00 target price on shares of Sovran Self Storage in a research note on Thursday, November 3rd. FBR & Co lowered their target price on Sovran Self Storage from $105.00 to $95.00 and set a market perform rating on the stock in a research note on Thursday, November 3rd. Finally, DA Davidson lowered their target price on Sovran Self Storage from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Sovran Self Storage presently has a consensus rating of Hold and a consensus target price of $104.50.
Sovran Self Storage (NYSE:LSI) traded down 0.29% during mid-day trading on Friday, reaching $79.84. The company’s stock had a trading volume of 56,046 shares. Sovran Self Storage has a 12 month low of $77.00 and a 12 month high of $118.18. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 33.62 and a beta of 0.62. The stock’s 50 day moving average is $83.51 and its 200 day moving average is $96.17.
Sovran Self Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $1.20. The firm had revenue of $127.80 million for the quarter, compared to the consensus estimate 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 for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 EPS. Equities research analysts predict that Sovran Self Storage will post $5.23 EPS for the current year.
In other news, Director Stephen R. Rusmisel bought 500 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was acquired at an average cost of $81.51 per share, for a total transaction of $40,755.00. Following the completion of the purchase, the director now owns 4,712 shares of the company’s stock, valued at approximately $384,075.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kenneth F. Myszka sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were 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. 2.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of LSI. Lasalle Investment Management Securities LLC purchased a new position in shares of Sovran Self Storage during the third quarter worth approximately $197,461,000. BlackRock Fund Advisors bought a new position in Sovran Self Storage during the third quarter valued at about $182,920,000. BlackRock Institutional Trust Company N.A. bought a new position in Sovran Self Storage during the third quarter valued at about $165,193,000. Security Capital Research & Management Inc. bought a new position in Sovran Self Storage during the third quarter valued at about $159,017,000. Finally, Bank of New York Mellon Corp bought a new position in Sovran Self Storage during the third quarter valued at about $107,762,000. Institutional investors and hedge funds own 91.29% 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.
Receive News & Stock Ratings for Sovran Self Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sovran Self Storage Inc. and related stocks with our FREE daily email newsletter.