Back to top

Analyst Blog

Sovran Self Storage, Inc. (SSS - Snapshot Report), a real estate investment trust (REIT), has recently divested a 12-property portfolio to World Class Capital Group, LLC, for $35.5 million. The proceeds were utilized to reduce the outstanding balance on Sovran’s line of credit.

Spanning approximately 900,000 net rentable square feet, the sold portfolio includes over 8,000 units in Houston and Dallas, Texas, making it one of the largest self-storage portfolio sales in the U.S. in 2012. Subsequent to the divestiture, Sovran continues to operate 110 Texas self storage facilities under the trade name Uncle Bob’s Self Storage.

Sovran is continuing with its portfolio repositioning program in which it divests non-core assets and targets high-quality assets in attractive lucrative markets with better growth opportunities. The company has acquired 32 properties in Texas over the last year and remains focused on its asset recycling program by reducing exposure in its non-core investments.

Earlier in the second quarter 2012, Sovran acquired four premium self storage facilities and also subsequent to the end of the quarter, the company sold five non-strategic properties.

Headquartered in Buffalo, New York, Sovran engages in the business of acquiring and managing self-storage facilities. The company’s self-storage properties offer storage space to residential and commercial users, besides outside storage for automobiles, recreational vehicles, and boats.

Sovran currently retains a Zacks #2 Rank, which translates into a short-term Buy rating. We also have a long-term Neutral recommendation on the stock. One of its competitors, Public Storage (PSA - Analyst Report) holds a Zacks #3 Rank, which translates into a short-term Hold rating.

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
PLANAR SYST… PLNR 4.44 +5.21%
BITAUTO HOL… BITA 81.71 +5.12%
CTPARTNERS… CTP 16.66 +4.26%
CHINA BIOLO… CBPO 47.91 +3.30%
MALLINCKROD… MNK 72.94 +2.85%