KeyBanc Upgrades Sovran Self Storage (SSS) to Buy; Remain Positive on the Self Storage Sector

KeyBanc upgraded Sovran Self Storage (NYSE: SSS) from Hold to Buy.

KeyBanc analyst says, "We are upgrading Sovran Self Storage to BUY on increased confidence that the stock will benefit from an improvement in self storage fundamentals that will lead to premium NAV growth that is not currently anticipated, in our view. Our upgrade is predicated on: 1) a gradual improvement in the Company's Texas and Florida portfolio concentrations which account for approximately 40% of the Company's revenue; 2) an increase in the Company's overall occupancy level, which remains 300+ basis points below the Company's optimal occupancy level; and 3) a narrowing of the Company's discounted valuation vs. the sector and the REITs."

For more ratings news on Sovran Self Storage click here and for the rating history of Sovran Self Storage click here.

Shares of Sovran Self Storage closed at $39.71 yesterday.

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