Zacks Investment Research Downgrades Sovran Self Storage Inc. (LSI) to Sell
Sovran Self Storage Inc. (NYSE:LSI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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 equities research analysts also recently weighed in on LSI. KeyCorp downgraded 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. DA Davidson began coverage on Sovran Self Storage in a report on Friday, June 24th. They issued a “neutral” rating and a $110.00 target price on the stock. Citigroup Inc. raised Sovran Self Storage from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $105.00 in a report on Friday, September 9th. 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 target price on the stock. Finally, Evercore ISI raised 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Sovran Self Storage currently has an average rating of “Hold” and an average price target of $110.68.
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Sovran Self Storage (NYSE:LSI) opened at 90.38 on Wednesday. The firm has a 50-day moving average price of $91.31 and a 200 day moving average price of $104.47. Sovran Self Storage has a 12 month low of $86.45 and a 12 month high of $118.18. The company has a market capitalization of $3.79 billion, a P/E ratio of 25.90 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 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.32. The firm had revenue of $107.10 million for the quarter, compared to the consensus estimate 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 revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. Analysts expect that Sovran Self Storage will post $5.33 EPS for the current year.
In other Sovran Self Storage news, Director Arthur L. Havener, Jr. acquired 600 shares of the stock in a transaction dated Wednesday, August 24th. The stock was purchased at an average cost of $88.55 per share, with a total value of $53,130.00. Following the transaction, the director now owns 2,563 shares in the company, valued at approximately $226,953.65. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Arthur L. Havener, Jr. acquired 352 shares of the stock in a transaction dated Friday, August 26th. The stock was acquired at an average cost of $87.07 per share, with a total value of $30,648.64. Following the completion of the transaction, the director now owns 2,915 shares in the company, valued at approximately $253,809.05. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.
An institutional investor recently bought a new position in Sovran Self Storage stock. Public Employees Retirement System of Ohio acquired a new stake in Sovran Self Storage Inc. (NYSE:LSI) during the second quarter, according to its most recent disclosure with the SEC. 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 about 0.16% of Sovran Self Storage at the end of the most recent reporting period. Institutional investors and hedge funds own 89.46% 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 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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