Today: The Cantor Fitzgerald Reiterates $108.00 Price Target for Sovran Self Storage Inc. (LSI)

The Cantor Fitzgerald Reiterates $108.00 Price Target for Sovran Self Storage Inc. (LSI)

Sovran Self Storage Inc. (NYSE:LSI) has been given a $108.00 price target by equities research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 33.66% from the stock’s current price.

LSI has been the subject of several other reports. BMO Capital Markets raised Sovran Self Storage from a “market perform” rating to an “outperform” rating and set a $96.00 target price for the company in a report on Wednesday, October 26th. They noted that the move was a valuation call. Zacks Investment Research raised Sovran Self Storage from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th. Citigroup Inc. raised Sovran Self Storage from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $105.00 in a report on Friday, September 9th. Raymond James Financial Inc. downgraded Sovran Self Storage from an “outperform” rating to a “market perform” rating and set a $124.00 target price for the company. in a report on Friday, August 12th. Finally, Jefferies Group downgraded Sovran Self Storage from a “buy” rating to a “hold” rating and reduced their target price for the company from $135.00 to $100.00 in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Sovran Self Storage currently has an average rating of “Hold” and a consensus price target of $104.50.

Shares of Sovran Self Storage (NYSE:LSI) traded up 0.65% during mid-day trading on Wednesday, hitting $80.80. The stock had a trading volume of 200,044 shares. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 34.02 and a beta of 0.62. The company has a 50-day moving average of $82.66 and a 200 day moving average of $95.11. Sovran Self Storage has a one year low of $77.00 and a one year high of $118.18.

Sovran Self Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $1.20. The business earned $127.80 million during the quarter, compared to analyst estimates of $122.29 million. Sovran Self Storage had a return on equity of 5.62% and a net margin of 22.63%. The company’s revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. On average, equities research analysts forecast that Sovran Self Storage will post $5.23 earnings per share for the current year.

In related news, Director Charles E. Lannon sold 1,000 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $89.50, for a total value of $89,500.00. Following the completion of the sale, the director now directly owns 114,054 shares of the company’s stock, valued at approximately $10,207,833. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Rusmisel acquired 500 shares of Sovran Self Storage stock in a transaction that occurred on Friday, November 11th. The stock was acquired at an average cost of $81.51 per share, with a total value of $40,755.00. Following the completion of the purchase, the director now owns 4,712 shares in the company, valued at approximately $384,075.12. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. New Mexico Educational Retirement Board acquired a new stake in shares of Sovran Self Storage during the third quarter valued at about $576,000. Spirit of America Management Corp NY purchased a new position in shares of Sovran Self Storage during the third quarter valued at $2,819,000. MSI Financial Services Inc purchased a new position in shares of Sovran Self Storage during the third quarter valued at $200,000. Canandaigua National Bank & Trust Co. purchased a new position in shares of Sovran Self Storage during the third quarter valued at $272,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Sovran Self Storage during the third quarter valued at $907,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Sovran Self Storage Company Profile

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