Cantor Fitzgerald Downgrades Sovran Self Storage (SSS) to Sell

December 4, 2012 6:54 AM EST
Get Alerts SSS Hot Sheet
Price: $92.21 --0%

Rating Summary:
    6 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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.

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