Cantor Fitzgerald Downgrades Sovran Self Storage (SSS) to Sell
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Price: $71.30 +1.67%
Rating Summary:
4 Buy, 1 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
4 Buy, 1 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade SSS Now!
Cantor Fitzgerald downgraded Sovran Self Storage (NYSE: SSS) from Buy to Sell with a price target of $64.00 (from $59.00).
The firm comments, "We downgrade shares of SSS to SELL from HOLD, as we view the stock to be trading with excess premium. Although we admire recent management changes and new strategic execution (e.g., accelerated acquisition volumes, RMS roll-out), we believe investors should take profits in the stock at these levels. 2013 growth is likely to top REIT averages, but double-digit encore performance will likely remain a challenge due to tougher yoy comps."
They adjust 2012/2013 FFO/sh. ests. to $3.18 and $3.48, respectively, from $3.17 and $3.40. They adjust 2012/2013 AFFO/sh. ests. to $2.76 and $2.97, respectively.
For an analyst ratings summary and ratings history on Sovran Self Storage click here. For more ratings news on Sovran Self Storage click here.
Shares of Sovran Self Storage closed at $62.30 yesterday, with a 52 week range of $39.48-$62.68.
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The firm comments, "We downgrade shares of SSS to SELL from HOLD, as we view the stock to be trading with excess premium. Although we admire recent management changes and new strategic execution (e.g., accelerated acquisition volumes, RMS roll-out), we believe investors should take profits in the stock at these levels. 2013 growth is likely to top REIT averages, but double-digit encore performance will likely remain a challenge due to tougher yoy comps."
They adjust 2012/2013 FFO/sh. ests. to $3.18 and $3.48, respectively, from $3.17 and $3.40. They adjust 2012/2013 AFFO/sh. ests. to $2.76 and $2.97, respectively.
For an analyst ratings summary and ratings history on Sovran Self Storage click here. For more ratings news on Sovran Self Storage click here.
Shares of Sovran Self Storage closed at $62.30 yesterday, with a 52 week range of $39.48-$62.68.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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