V3 Capital Management Lowers stake in Sovran Self Storage Inc (SSS)

Sovran Self Storage Inc (SSS) : V3 Capital Management reduced its stake in Sovran Self Storage Inc by 5.76% during the most recent quarter end. The investment management company now holds a total of 431,008 shares of Sovran Self Storage Inc which is valued at $49.1 Million after selling 26,350 shares in Sovran Self Storage Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Sovran Self Storage Inc makes up approximately 13.15% of V3 Capital Management’s portfolio.

Other Hedge Funds, Including , Driehaus Capital Management boosted its stake in SSS in the latest quarter, The investment management firm added 14,117 additional shares and now holds a total of 20,617 shares of Sovran Self Storage Inc which is valued at $2.4 Million. Sovran Self Storage Inc makes up approx 0.08% of Driehaus Capital Management’s portfolio.Thrivent Financial For Lutherans boosted its stake in SSS in the latest quarter, The investment management firm added 141,020 additional shares and now holds a total of 164,119 shares of Sovran Self Storage Inc which is valued at $18.7 Million. Sovran Self Storage Inc makes up approx 0.09% of Thrivent Financial For Lutherans’s portfolio. Massachusetts Financial Services Co added SSS to its portfolio by purchasing 448,218 company shares during the most recent quarter which is valued at $51.1 Million. Sovran Self Storage Inc makes up approx 0.03% of Massachusetts Financial Services Co’s portfolio.Shinko Asset Management Ltd. reduced its stake in SSS by selling 300 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 387,738 shares of SSS which is valued at $44.2 Million. Sovran Self Storage Inc makes up approx 0.35% of Shinko Asset Management Ltd.’s portfolio.Retirement Systems Of Alabama boosted its stake in SSS in the latest quarter, The investment management firm added 4,330 additional shares and now holds a total of 50,804 shares of Sovran Self Storage Inc which is valued at $5.4 Million. Sovran Self Storage Inc makes up approx 0.03% of Retirement Systems Of Alabama’s portfolio.

Sovran Self Storage Inc closed down -1.36 points or -1.26% at $106.34 with 4,14,985 shares getting traded on Wednesday. Post opening the session at $107.95, the shares hit an intraday low of $105.59 and an intraday high of $107.95 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Sovran Self Storage Inc reported $1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $1.20. The company had revenue of $99.10 million for the quarter, compared to analysts expectations of $97.45 million. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.

Many Wall Street Analysts have commented on Sovran Self Storage Inc. Company shares were Downgraded by UBS on Mar 18, 2016 to ” Neutral”, Firm has raised the Price Target to $ 113 from a previous price target of $109 .Sovran Self Storage Inc was Upgraded by Raymond James to ” Outperform” on Mar 4, 2016.

Sovran Self Storage Inc. (Sovran) is a self-administered and self-managed real estate investment trust (REIT). The Company acquires owns and manages self-storage properties. As of December 31 2014 it held ownership interests in leased and/or managed 518 properties consisting of approximately 35.5 million net rentable square feet situated in 25 states. Among its 518 self-storage properties are 39 properties that it manages for an unconsolidated joint venture of which the Company is a 20% owner 30 properties that it manages for an unconsolidated joint venture of which the Company is a 15% owner 17 properties that it manages and in which the Company has no ownership interest and four properties that it leases. The Company’s properties conduct business under the name Uncle Bob’s Self-Storage. As of December 31 2014 the Company owns an indirect interest in 497 of the Properties through a limited partnership.

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