Sovran Self Storage Upgraded to “Buy” by Cantor Fitzgerald (SSS)

Cantor Fitzgerald upgraded shares of Sovran Self Storage from a hold rating to a buy rating in a report issued on Friday, reports. They currently have $102.00 target price on the real estate investment trust’s stock, up from their previous target price of $91.00.

Sovran Self Storage (NYSE:SSS) traded up 0.40% on Friday, hitting $90.67. 140,606 shares of the company’s stock traded hands. Sovran Self Storage has a 1-year low of $73.59 and a 1-year high of $97.76. The stock has a 50-day moving average of $89. and a 200-day moving average of $90.. The company has a market cap of $3.11 billion and a P/E ratio of 32.34.

Sovran Self Storage (NYSE:SSS) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $1.09 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.09. The company had revenue of $85.40 million for the quarter, compared to the consensus estimate of $86.83 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts expect that Sovran Self Storage will post $4.79 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Sovran Self Storage from a buy rating to a hold rating in a research note on Thursday, June 4th. Analysts at Citigroup Inc. reiterated a neutral rating and set a $98.00 price target (up previously from $90.00) on shares of Sovran Self Storage in a research note on Monday, May 11th. Finally, analysts at Jefferies Group reiterated a buy rating and set a $104.00 price target on shares of Sovran Self Storage in a research note on Saturday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $96.50.

In other Sovran Self Storage news, President Kenneth F. Myszka sold 3,000 shares of the company’s stock on the open market in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $88.50, for a total transaction of $265,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sovran Self Storage, Inc (NYSE:SSS) is a self-administered and self-managed real estate investment trust (REIT). The Company’s properties are located in Florida, Texas, Maine, Illinois, Missouri, New Jersey, New York, Georgia, Virginia and Tennessee.