Sovran Self Storage Lowered to “Market Perform” at Raymond James (SSS)


    Sovran Self Storage (NYSE:SSS) was downgraded by investment analysts at Raymond James to a “market perform” rating in a note issued to investors on Tuesday, AnalystRatings.NET reports.

    Shares of Sovran Self Storage opened at 77.10 on Tuesday. Sovran Self Storage has a one year low of $55.66 and a one year high of $79.59. The stock’s 50-day moving average is $74.06 and its 200-day moving average is $69.36. The company has a market cap of $2.411 billion and a price-to-earnings ratio of 36.59.

    Sovran Self Storage last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.90 by $0.04. The company had revenue of $67.62 million for the quarter, compared to the consensus estimate of $62.97 million. During the same quarter in the prior year, the company posted $0.77 earnings per share.

    The company also recently declared a quarterly dividend, which is scheduled for Monday, October 28th. Investors of record on Monday, October 14th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, October 9th.

    Several other analysts have also recently commented on the stock. Analysts at Macquarie initiated coverage on shares of Sovran Self Storage in a research note to investors on Tuesday, September 10th. They set an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Sovran Self Storage from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 2nd. They now have a $75.20 price target on the stock. Finally, analysts at UBS AG upgraded shares of Sovran Self Storage from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $71.24.

    About Sovran Self Storage

    Sovran Self Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that acquires and manages self storage properties. The Company owns and/or operates more than 400 self storage facilities encompassing over 30 million square feet, making it one of the largest self-storage companies in the United States.

    Sovran operates its stores under the trade name Uncle Bob’s Self Storage®, and serves over 200,000 customers in 25 states. Through innovative marketing and product development, the Company has differentiated itself with value-added products and services like Dri-guard, their state-of-the art dehumidification system; Uncle Bob’s rental trucks; and a national Customer Care Center featuring a fully integrated sales and reservation system for the Company’s rental spaces.

    Founded in 1982, the Company is headquartered in Buffalo, New York, and employs over 1,100 people. Sovran’s common stock trades on the New York Stock Exchange under the symbol SSS. For more information, please visit:

    (via Zolmax News)



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