Sovran Self Storage Inc. (LSI) Lifted to “Hold” at 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. “
A number of other brokerages have also commented on LSI. FBR & Co began coverage on Sovran Self Storage in a report on Wednesday, June 22nd. They issued a market perform rating and a $106.00 price target on the stock. Evercore ISI upgraded Sovran Self Storage from a hold rating to a buy rating and set a $115.00 target price on the stock in a report on Friday, June 24th. DA Davidson began coverage on Sovran Self Storage in a report on Friday, June 24th. They set a neutral rating and a $110.00 target price on the stock. Jefferies Group reiterated a buy rating and set a $135.00 target price on shares of Sovran Self Storage in a report on Thursday, August 4th. Finally, KeyCorp lowered Sovran Self Storage from a sector weight rating to an underweight rating and set a $84.00 target price on the stock. in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $110.68.
Shares of Sovran Self Storage (NYSE:LSI) opened at 87.06 on Wednesday. The stock’s 50 day moving average price is $89.80 and its 200 day moving average price is $101.66. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 24.95 and a beta of 0.78. Sovran Self Storage has a one year low of $84.36 and a one year high of $118.18.
Sovran Self Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 EPS for the quarter, meeting analysts’ consensus estimates of $1.32. The company had revenue of $107.10 million for the quarter, compared to analyst estimates of $104.90 million. Sovran Self Storage had a return on equity of 8.95% and a net margin of 33.62%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. On average, equities analysts anticipate that Sovran Self Storage will post $5.32 earnings per share for the current fiscal year.
In related news, President Kenneth F. Myszka sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $92.26, for a total transaction of $461,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen R. Rusmisel purchased 500 shares of Sovran Self Storage stock in a transaction that occurred on Monday, August 8th. The shares were bought at an average cost of $92.93 per share, for a total transaction of $46,465.00. Following the transaction, the director now directly owns 4,012 shares of the company’s stock, valued at $372,835.16. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. MSI Financial Services Inc bought a new stake in shares of Sovran Self Storage during the third quarter worth about $200,000. Creative Planning bought a new stake in shares of Sovran Self Storage during the third quarter worth about $234,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of Sovran Self Storage during the third quarter worth about $272,000. Pensionfund Sabic bought a new stake in shares of Sovran Self Storage during the third quarter worth about $382,000. Finally, Capstone Asset Management Co. bought a new stake in shares of Sovran Self Storage during the third quarter worth about $481,000. 89.48% of the stock is currently owned by institutional investors and hedge funds.
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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