Sovran Self Storage Inc. (LSI) Upgraded to “Hold” by Zacks Investment Research
Sovran Self Storage Inc. (NYSE:LSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Several other equities research analysts have also recently weighed in on the company. Jefferies Group reiterated a “buy” rating and set a $135.00 price target on shares of Sovran Self Storage in a research report on Thursday, August 4th. Citigroup Inc. decreased their price target on Sovran Self Storage from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 15th. DA Davidson decreased their price target on Sovran Self Storage from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 8th. Raymond James Financial Inc. cut Sovran Self Storage from an “outperform” rating to a “market perform” rating and set a $124.00 price target on the stock. in a research report on Friday, August 12th. Finally, Evercore ISI upgraded Sovran Self Storage from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Friday, June 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $110.68.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/sovran-self-storage-inc-lsi-upgraded-to-hold-by-zacks-investment-research.html
Sovran Self Storage (NYSE:LSI) opened at 87.25 on Wednesday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 25.00 and a beta of 0.78. The company’s 50-day moving average is $89.96 and its 200-day moving average is $102.07. Sovran Self Storage has a 52-week low of $84.36 and a 52-week high of $118.18.
Sovran Self Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.32. Sovran Self Storage had a return on equity of 8.95% and a net margin of 33.62%. The firm had revenue of $107.10 million for the quarter, compared to analysts’ expectations of $104.90 million. During the same period in the prior year, the business posted $1.24 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. On average, analysts expect that Sovran Self Storage will post $5.32 earnings per share for the current fiscal year.
In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Rusmisel acquired 500 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were bought at an average cost of $92.93 per share, with a total value of $46,465.00. Following the purchase, the director now owns 4,012 shares of the company’s stock, valued at approximately $372,835.16. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LSI. BNP Paribas Arbitrage SA bought a new stake in Sovran Self Storage during the third quarter worth $917,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of Sovran Self Storage during the third quarter worth approximately $1,420,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Sovran Self Storage during the second quarter worth approximately $7,150,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of Sovran Self Storage during the third quarter worth approximately $79,989,000. 89.46% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.