Deutsche Bank Downgrades Sovran Self Storage (SSS) to Hold
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Deutsche Bank downgrades Sovran Self Storage (NYSE: SSS) from Buy to Hold.
The firm said its Hold rating on Sovran is based on a lack of near-term catalysts. Deutsche believes Sovran will be able to deliver on its appropriately conservative earnings, but believes that weak housing conditions will not allow the Company to beat expectations.
Sovran's management told Deutsche that the Company is searching many portfolio's that for sale, but notes that sellers have not yet adjusted their expectations, keeping cap rates high.
Sovran Self Storage, Inc. operates as a real estate investment trust (REIT).
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