Sovran Self Storage (SSS) Tops Q3 FFO by 4c, Offers Guidance

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October 28, 2015 5:42 PM EDT

Sovran Self Storage (NYSE: SSS) reported Q3 FFO of $1.32, $0.04 better than the analyst estimate of $1.28. Revenue for the quarter came in at $95.4 million versus the consensus estimate of $93.39 million.

YEAR 2015 EARNINGS GUIDANCE:

Management is encouraged by its occupancy gains and its ability to attain significant rental rate growth in most markets. The following assumptions covering operations have been utilized in formulating guidance for the fourth quarter and full year 2015:

Same Store

Projected Increases Over 2014

4Q 2015

Full Year 2015

Revenue 6.25 – 6.75% 5.75 – 6.75%
Operating Costs (excluding property taxes) 2.0 – 3.0% 2.0 – 3.0%
Property Taxes

14.0 – 15.0%*

5.0 – 6.0%

Total Operating Expenses 5.0 – 6.0% 3.0 – 4.0%
Net Operating Income 6.5 – 7.5% 7.0 – 8.0%

For earnings history and earnings-related data on Sovran Self Storage (SSS) click here.


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