Should Investors Be Selling Sovran Self Storage (NYSE:SSS) Stock Following Today’s KeyBanc Capital Mkts Downgrade?


Sovran Self Storage (NYSE:SSS) Receives a Downgrade

In a note shared with investors on Monday morning, KeyBanc Capital Mkts downgraded shares of Sovran Self Storage (NYSE:SSS) to a lower Sector Weight rating from the previous Overweight rating.

From a total of 12 analysts covering Sovran Self Storage (NYSE:SSS) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 77% of the ratings are positive. The highest target price is $122.5 while the lowest target price is $100. The mean of all analyst targets is $108.79 with a 8.21% above today’s ($100.27) stock price. Sovran Self Storage was the topic of 10 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. BB&T Capital initiated shares on November 11 with “Buy” rating. Robert W. Baird initiated shares with “Outperform” rating and $102 target share price in a report from a July 23. Evercore initiated SSS stock in a recent report from September 8 with “Buy” rating. Finally, Bank of America maintained the stock with “Buy” rating in a report issued on an August 22.

Approximately 68,193 shares of stock traded hands. Sovran Self Storage Inc (NYSE:SSS) has risen 14.54% since May 4, 2015 and is uptrending. It has outperformed by 15.62% the S&P500.

The overall sentiment of institutions has increased to 1.23 in Q2 2015. Its up 0.15, from 1.08 in 2015Q2. The ratio improved, as 18 institutions have sold all the shares of Sovran Self Storage Inc that they owned while 82 funds have taken shares off the table. 38 funds have purchased shares for the first time while 85 added to their positions. These institutions now hold 27.35 million shares or 19.19% less than the 33.85 million shares they owned in 2015Q2.

The Fund V3 Capital Management L.P. currently is holding shares equating to 10.61% of its total portfolio in Sovran Self Storage Inc representing a total of 446,358 shares. Another fund,Keypoint Capital Management Llc, is holding a total of 38,397 shares equating to 5.45% of their holdings. Additionally, Harrison Street Securities Llc has a 11,115 share stake in Sovran Self Storage Inc which represents 3.1% of their total portfolio. The Fund, Eii Capital Management Inc., based out of New York, has also built up a stake in the stock, which represents a total of 2.49% of their total portfolio. Finally Cornerstone Real Estate Advisers Llc, a fund which is based in the state of Connecticut reported a total holdings of 46,119 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of Sovran Self Storage Inc have witnessed 0 buys, and a total of 5 sales equating to a net activity of approximately $1.23 million . Myszka Kenneth F sold 3,000 shares worth approximately $277,009. Rogers David L sold 2,901 shares worth approximately $269,258. Killeen Edward F sold 2,291 shares worth approximately $226,305. Powell Paul T sold 2,000 shares worth approximately $194,240. The company insider Havener Arthur L Jr bought 278 shares worth $25,481.

Sovran Self Storage, Inc. is a self-administered and self-managed real estate investment trust (REIT). The company has a market cap of $3.62 billion. The Firm acquires, owns and manages self-storage properties. It has 32.48 P/E ratio. 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.

According to Zacks Investment Research, “Sovran Self Storage, Inc. is a self-administered and self-managed real estate investment trust which acquires, owns and manages self-storage properties.” Get a free copy of the Zacks research report on Sovran Self Storage Inc (SSS).