Spirit of America Management Corp NY bought a new stake in Sovran Self Storage Inc. (NYSE:LSI) during the third quarter, according to its most recent disclosure with the SEC. The fund bought 31,700 shares of the real estate investment trust’s stock, valued at approximately $2,819,000. Spirit of America Management Corp NY owned approximately 0.08% of Sovran Self Storage at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MSI Financial Services Inc acquired a new stake in Sovran Self Storage during the third quarter valued at about $200,000. Canandaigua National Bank & Trust Co. bought a new stake in Sovran Self Storage during the third quarter valued at about $272,000. Nisa Investment Advisors LLC bought a new stake in Sovran Self Storage during the third quarter valued at about $907,000. Capstone Asset Management Co. bought a new stake in Sovran Self Storage during the third quarter valued at about $481,000. Finally, Pensionfund Sabic bought a new stake in Sovran Self Storage during the third quarter valued at about $382,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Institutional Ownership by Quarter for Sovran Self Storage (NYSE:LSI)

Shares of Sovran Self Storage Inc. (NYSE:LSI) traded down 1.16% on Wednesday, reaching $81.23. The company had a trading volume of 395,357 shares. The firm has a market capitalization of $3.75 billion, a PE ratio of 34.20 and a beta of 0.62. The firm’s 50 day moving average is $82.18 and its 200 day moving average is $94.27. Sovran Self Storage Inc. has a 12 month low of $77.00 and a 12 month high of $118.18.

Sovran Self Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $1.20. Sovran Self Storage had a return on equity of 5.62% and a net margin of 22.63%. The firm had revenue of $127.80 million for the quarter, compared to analysts’ expectations of $122.29 million. During the same period in the prior year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. On average, equities research analysts expect that Sovran Self Storage Inc. will post $5.23 earnings per share for the current fiscal year.

WARNING: “31,700 Shares in Sovran Self Storage Inc. (LSI) Acquired by Spirit of America Management Corp NY” was reported by Financial Market News and is the propert of of Financial Market News. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this piece of content can be read at http://www.financial-market-news.com/31700-shares-in-sovran-self-storage-inc-lsi-acquired-by-spirit-of-america-management-corp-ny/1211288/.

A number of equities research analysts recently issued reports on LSI shares. KeyCorp lowered Sovran Self Storage from a “sector weight” rating to an “underweight” rating and set a $84.00 price target for the company. in a research note on Thursday, August 4th. Jefferies Group restated a “buy” rating and set a $135.00 price objective on shares of Sovran Self Storage in a report on Thursday, August 4th. DA Davidson reduced their price objective on Sovran Self Storage from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 8th. Raymond James Financial Inc. downgraded Sovran Self Storage from an “outperform” rating to a “market perform” rating and set a $124.00 price target on the stock. in a report on Friday, August 12th. Finally, Citigroup Inc. cut their price target on Sovran Self Storage from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Sovran Self Storage has an average rating of “Hold” and an average target price of $104.50.

In other Sovran Self Storage news, President Kenneth F. Myszka sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $90.11, for a total transaction of $270,330.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen R. Rusmisel purchased 500 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were purchased at an average price of $81.51 per share, for a total transaction of $40,755.00. Following the completion of the purchase, the director now directly owns 4,712 shares of the company’s stock, valued at $384,075.12. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

About Sovran Self Storage

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.

5 Day Chart for NYSE:LSI

Want to see what other hedge funds are holding LSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sovran Self Storage Inc. (NYSE:LSI).

Receive News & Ratings for Sovran Self Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sovran Self Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.