Sovran Self Storage Inc (SSS) is Downgraded by Jefferies to Hold

Sovran Self Storage Inc (SSS) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Aug 10, 2016.

Many Wall Street Analysts have commented on Sovran Self Storage Inc. Shares were Reiterated by DA Davidson on Aug 8, 2016 to “Neutral” and Lowered the Price Target to $ 100 from a previous price target of $110 .Sovran Self Storage Inc was Downgraded by KeyBanc Capital Mkts to ” Underweight” on Aug 4, 2016. DA Davidson Initiated Sovran Self Storage Inc on Jun 24, 2016 to “Neutral”, Price Target of the shares are set at $110.

On the company’s financial health, Sovran Self Storage Inc reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.34. The company had revenue of $107.00 million for the quarter, compared to analysts expectations of $105.65 million. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS.

Sovran Self Storage Inc closed down -0.54 points or -0.58% at $92.37 with 5,62,459 shares getting traded on Monday. Post opening the session at $93, the shares hit an intraday low of $92.2 and an intraday high of $93.56 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Dec 11, 2015, Kenneth F Myszka (President) sold 1,384 shares at $100.04 per share price. According to the SEC, on Nov 30, 2015, Robert J Attea (Executive Chairman of Board) sold 3,038 shares at $100.27 per share price. On Sep 18, 2015, David L Rogers (CEO) sold 2,901 shares at $92.82 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Sovran Self Storage Inc

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