Arthur L. Havener, Jr. Buys 2,724 Shares of Sovran Self Storage Inc. (LSI) Stock
Sovran Self Storage Inc. (NYSE:LSI) Director Arthur L. Havener, Jr. acquired 2,724 shares of Sovran Self Storage stock in a transaction that occurred on Friday, November 18th. The stock was bought at an average cost of $79.55 per share, with a total value of $216,694.20. Following the acquisition, the director now directly owns 5,639 shares of the company’s stock, valued at $448,582.45. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
Sovran Self Storage Inc. (NYSE:LSI) opened at 80.63 on Wednesday. Sovran Self Storage Inc. has a one year low of $77.00 and a one year high of $118.18. The stock has a 50 day moving average price of $83.06 and a 200-day moving average price of $95.46. The firm has a market cap of $3.72 billion, a P/E ratio of 33.95 and a beta of 0.62.
Sovran Self Storage (NYSE:LSI) last announced its earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $1.20. Sovran Self Storage had a return on equity of 5.62% and a net margin of 22.63%. The company earned $127.80 million during the quarter, compared to analyst estimates of $122.29 million. During the same period last year, the company posted $1.32 earnings per share. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. Analysts predict that Sovran Self Storage Inc. will post $5.23 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. KeyCorp downgraded shares of Sovran Self Storage from a “sector weight” rating to an “underweight” rating and set a $84.00 price objective for the company. in a report on Thursday, August 4th. Jefferies Group reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Sovran Self Storage in a report on Thursday, August 4th. BMO Capital Markets raised shares of Sovran Self Storage from a “market perform” rating to an “outperform” rating and set a $96.00 price target for the company in a report on Wednesday, October 26th. They noted that the move was a valuation call. FBR & Co cut their price target on shares of Sovran Self Storage from $105.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, November 3rd. Finally, DA Davidson cut their price target on shares of Sovran Self Storage from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Sovran Self Storage currently has a consensus rating of “Hold” and a consensus target price of $104.50.
Hedge funds have recently made changes to their positions in the stock. Lasalle Investment Management Securities LLC acquired a new stake in shares of Sovran Self Storage during the third quarter worth $197,461,000. BlackRock Fund Advisors purchased a new position in Sovran Self Storage during the third quarter valued at about $182,920,000. BlackRock Institutional Trust Company N.A. purchased a new position in Sovran Self Storage during the third quarter valued at about $165,193,000. Security Capital Research & Management Inc. purchased a new position in Sovran Self Storage during the third quarter valued at about $159,017,000. Finally, Bank of New York Mellon Corp purchased a new position in Sovran Self Storage during the third quarter valued at about $107,762,000. Institutional investors own 91.29% 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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