Sovran Self Storage Inc. (NYSE:LSI) Receives Average Recommendation of “Hold” from Analysts
Sovran Self Storage Inc. (NYSE:LSI) has earned an average rating of “Hold” from the twelve brokerages that are currently covering the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $110.68.
LSI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Sovran Self Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Evercore ISI upgraded shares of Sovran Self Storage from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Friday, June 24th. Jefferies Group cut shares of Sovran Self Storage from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $135.00 to $100.00 in a research report on Wednesday, August 10th. Citigroup Inc. lowered their price objective on shares of Sovran Self Storage from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 15th. Finally, Raymond James Financial Inc. cut shares of Sovran Self Storage from an “outperform” rating to a “market perform” rating and set a $124.00 price objective for the company. in a research report on Friday, August 12th.
In other news, Director Charles E. Lannon sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $89.50, for a total value of $89,500.00. Following the sale, the director now directly owns 114,054 shares of the company’s stock, valued at approximately $10,207,833. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Kenneth F. Myszka sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $92.26, for a total transaction of $461,300.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
An institutional investor recently bought a new position in Sovran Self Storage stock. Public Employees Retirement System of Ohio acquired a new position in shares of Sovran Self Storage Inc. (NYSE:LSI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 68,150 shares of the real estate investment trust’s stock, valued at approximately $7,150,000. Public Employees Retirement System of Ohio owned approximately 0.16% of Sovran Self Storage as of its most recent SEC filing. Institutional investors and hedge funds own 89.46% of the company’s stock.
Sovran Self Storage (NYSE:LSI) traded down 1.78% during mid-day trading on Wednesday, hitting $88.77. 277,475 shares of the stock traded hands. The firm’s 50-day moving average price is $91.31 and its 200-day moving average price is $104.47. Sovran Self Storage has a 52 week low of $86.45 and a 52 week high of $118.18. The firm has a market cap of $3.73 billion, a P/E ratio of 25.44 and a beta of 0.82.
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 consensus estimate of $1.32. The company earned $107.10 million during the quarter, compared to analysts’ expectations of $104.90 million. Sovran Self Storage had a net margin of 33.62% and a return on equity of 8.95%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. On average, equities analysts forecast that Sovran Self Storage will post $5.33 earnings per share for the current fiscal year.
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 throughout the United States. As of June 30, 2016, the Company had an ownership interest in, and/or managed approximately 563 self-storage properties in over 26 states under the name Life Storage.
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