Sovran Self Storage "buy," price objective raised

07/10/06 - A.G. Edwards & Sons

NEW YORK, July 10 (newratings.com) - Analyst John L Sheehan of AG Edwards reiterates his "buy" rating on Sovran Self Storage (SSS). The price objective has been raised from $51 to $54.

In a research note dated July 6 and published this morning, the analyst mentions that the company’s stock is trading at a premium to the net asset value (NAV). The analyst considers the expected 7.25% capitalization rate of Sovran Self Storage's recently acquired 20 property portfolio as conservative.