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Mon, Jan. 25, 4:26 PM| Mon, Jan. 25, 4:26 PM
Tue, Jan. 19, 4:15 PM
- The company has agreed to purchase 25 facilities in eight states for a total purchase price of $371M. Sovran (NYSE:SSS) also closed on five buys in Q4 and January for roughly $27M, bringing the total under contract/closed to 30.
- Eight of those under contract are in the Los Angeles area - a new market for Sovran. Seven of these are stabilized and account for $167M of the purchases, and the eighth is a newly-developed store in North LA County being purchased for $18.6M.
- CEO David Rogers: "While its taken us a while to get there, we are thrilled to enter the Los Angeles market."
- Source: Press release
Fri, Jan. 8, 9:46 AM
- These income favorites are known for having had a tough time of it in 2015, in part thanks to worries about rising interest rates. MKM's Jonathan Krinsky, however, notes REITs have been relatively outperforming the S&P 500 for months and have just broken out to nine-month highs versus the broader market.
- Krinsky's a technician, so he's staying with the trend and recommending going long REITs (NYSEARCA:IYR) versus the S&P 500.
- Turning to individual REIT sectors and names, he's overweight apartments (AIV, AVB, ESS, EQR, MAA), UDR), storage (CUBE, EXR, PSA, SSS), and shopping malls (KIM, MAC, FRT, REG, IRM).
- He's equal weight data centers (buys: CONE, DCT, QTS, sells: EGP), diversified (buys: AMT, CCI, DLR, DRE, PSB, sells: EQIX, LPT, STAG, VNO, WY, WPC).
- He's underweight office property (buys: EQC, sells: HPP, FSP, GOV, KRC, OFC, PKY, SLG), hotels (sells: AHT, FCH, HPT, HST), mREITs (sells: ARR, STWD, RSO, buy: ABR), healthcare (sells: HCP, MPW, OHI, VTR, buys: DOC, HR, HTA)
Mon, Jan. 4, 4:32 PM
Mon, Jan. 4, 8:58 AM
Nov. 6, 2015, 10:14 AM
- While banks, brokerages, and insurers cheer the now near-certainty of higher rates, a big fall bounce for the REITs (IYR -1.8%) takes at least a pause as these income favorites mull some yield competition.
- Previously: December rate hike back on after big jobs number (Nov. 6)
- The 10-year Treasury yield is up nine basis points to 2.32% and the two-year yield has pushed to more than a five-year high of 0.90%.
- Realty Income (O -3.5%), Omega Healthcare (OHI -3.3%), Ventas (VTR -4.2%), HCP (HCP -2.8%), Medical Properties Trust (MPW -2.8%), Vornado (VNO -2.9%), Equity Residential (EQR -1.7%), AvalonBay (AVB -1.9%), Simon Property (SPG -2%), General Growth (GGP -3.2%), Inland Real Estate (ORC -0.8%), Kimco (KIM -2.6%), Public Storage (PSA -1.3%) Sovran (SSS -2.2%), Government Properties (GOV -2.3%), Boston Properties (BXP -2.6%), Ashford (AHP -5.9%), Hospitality Properties (HPT -2.1%), STAG Industrial (STAG -2.1%), Liberty Property (LPT -2%), American Campus (ACC -2.3%)
- ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX, LRET, XLRE
Oct. 28, 2015, 4:37 PM
- Sovran Self Storage (NYSE:SSS): Q3 EPS of $1.32 beats by $0.04.
- Revenue of $95.43M (+11.9% Y/Y) beats by $2.04M.
Oct. 27, 2015, 5:35 PM
- ABX, ACGL, AEM, AF, AFFX, AFOP, AMGN, ANIK, AR, ARII, ARRS, ASGN, ATML, BANC, BLKB, BWLD, CACI, CAVM, CBL, CGI, CHDN, CLI, CMO, CMPR, CNL, CNO, CNW, CRUS, CSGP, CW, CWT, DRE, DYAX, ECHO, ELLI, EPR, EQIX, EQY, ESIO, ESRT, ESV, EXR, FFIV, FMC, FORM, FORR, FR, GPRO, HBI, HLS, HOS, HT, HUBG, HY, INT, INVN, ISIL, KEX, KRA, KS, LNC, LOCK, LOPE, MAA, MANT, MAR, MC, MEOH, MMLP, MTGE, MTW, MUR, NE, NEM, NGD, NSIT, NTRI, NVDQ, NXPI, O, OCN, OGS, OII, ORLY, OTEX, PLXS, PPC, PRXL, PSA, PTC, QDEL, QEP, QGEN, QUIK, REG, ROG, ROVI, RRC, SCI, SGI, SGMO, SIMO, SPN, SPRT, SPWR, SSS, STAA, SU, TAL, THG, THRX, TILE, TLLP, TSO, TTMI, UNM, VAR, VECO, VRTX, WDC, WES, WGP, WLL, WMB, WSTL, WTS, YELP
Oct. 21, 2015, 9:27 AM
- BMO Financial upgrades SSS to Outperform from Market Perform. The price target of $107 is up $4 from previous and 8.8% above last night's close.
- The self-storage names have outperformed the broader REIT sector in 2015, and Sovran itself is up more than 11% YTD.
- SSS +2% in thin premarket trade to $100.28.
Oct. 2, 2015, 9:04 AM
- Sovran Self Storage (NYSE:SSS) declares $0.85/share quarterly dividend, in line with previous.
- Forward yield 3.58%
- Payable Oct. 26; for shareholders of record Oct. 16; ex-div Oct. 14.
Sep. 4, 2015, 12:58 PM
- Posting a total return of 2.38% as of August 18, the FTSE NAREIT All Equity REIT index ended up the month with a loss of 5.82%, a slim 18 basis points better than the S&P 500.
- The least-bad sectors were infrastructure REITs - American Tower (NYSE:AMT) and Crown Castle (NYSE:CCI) come to mind - down 1.4% in August and 1.5% YTD, and self-storage REITs - PSA, SSS, CUBE, EXR - down 1.9% in August, but up a big 13.4% YTD (best in sector).
- Hardest hit last month were office REITs - GOV, EQC, BXP, WRE are examples - falling 8.65%.
- Source: REIT Cafe
- ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
Sep. 4, 2015, 9:51 AM
- Public Storage's (PSA -0.6%) "unmatched" capital structure - 11% senior cap ratio, 6.7x fixed charge coverage - will attract investors looking for safe stocks, says analyst Jonathan Hughes, boosting the name to Outperform. The $220 price target is about 8.5% above the current level.
- Downgraded to Market Perform from Outperform is Sovran Self Storage (SSS -1.3%), with Hughes saying the company's exposure to the Houston market is weighing heavily on the name.
- CubeSmart (CUBE -1.2%) remains Hughes' top pick in the sector, notably trading at 20x 2016 AFFO/share estimates vs. peers as high as 22.9x.
- Source: Benzinga
Aug. 19, 2015, 6:41 PM
Jul. 29, 2015, 4:15 PM
- Sovran Self Storage (NYSE:SSS): Q2 EPS of $1.22 in-line.
- Revenue of $90.72M (+12.8% Y/Y) beats by $1.02M.
Jul. 1, 2015, 4:08 PM
- Sovran Self Storage (NYSE:SSS) declares $0.85/share quarterly dividend, 13.3% increase from prior dividend of $0.75.
- Forward yield 3.83%
- Payable July 27; for shareholders of record July 17; ex-div July 15.
Jun. 19, 2015, 10:19 AM
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