Today, Mizuho Trust & Banking Co. Ltd. Buys New Position in Sovran Self Storage Inc. (LSI)

Today, Mizuho Trust & Banking Co. Ltd. Buys New Position in Sovran Self Storage Inc. (LSI)

Mizuho Trust & Banking Co. Ltd. acquired a new position in shares of Sovran Self Storage Inc. (NYSE:LSI) during the third quarter, Holdings Channel reports. The institutional investor acquired 11,445 shares of the real estate investment trust’s stock, valued at approximately $1,018,000.

Several other large investors have also recently made changes to their positions in LSI. Quantbot Technologies LP purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $511,000. Advisors Asset Management Inc. purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $2,291,000. State of Wisconsin Investment Board purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $2,695,000. Wells Fargo & Company MN purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $5,675,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Sovran Self Storage during the third quarter worth approximately $1,085,000. 91.29% of the stock is currently owned by institutional investors.

Shares of Sovran Self Storage Inc. (NYSE:LSI) traded up 0.65% during mid-day trading on Friday, reaching $80.80. 200,044 shares of the company were exchanged. Sovran Self Storage Inc. has a 12 month low of $77.00 and a 12 month high of $118.18. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 34.02 and a beta of 0.62. The company’s 50-day moving average is $82.66 and its 200 day moving average is $95.11.

Sovran Self Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $1.20. The firm had revenue of $127.80 million for the quarter, compared to analysts’ expectations of $122.29 million. Sovran Self Storage had a net margin of 22.63% and a return on equity of 5.62%. Sovran Self Storage’s revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 earnings per share. Analysts predict that Sovran Self Storage Inc. will post $5.23 EPS for the current year.

A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Sovran Self Storage from a “sell” rating to a “hold” rating in a research report on Friday, November 18th. DA Davidson reissued a “hold” rating on shares of Sovran Self Storage in a research report on Thursday, November 10th. TheStreet downgraded shares of Sovran Self Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. FBR & Co lowered their target price on shares of Sovran Self Storage from $105.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, November 3rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $96.00 target price on shares of Sovran Self Storage in a report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $104.50.

In other Sovran Self Storage news, President Kenneth F. Myszka sold 3,000 shares of Sovran Self Storage stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $90.11, for a total transaction of $270,330.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles E. Lannon sold 1,000 shares of Sovran Self Storage stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $89.50, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 114,054 shares in the company, valued at $10,207,833. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Sovran Self Storage Company Profile

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.

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