Wells Fargo downgraded two more Self Storage REIT companies this morning (1-17-2014) by removing Buy ratings on Sovran Self Storage (SSS) and CubeSmart (CUBE) after recent healthy investment returns (relative to the sector) for both companies.
In addition to valuation for SSS, Wells Fargo notes potential lower for same-store results and the team’s FFO growth estimate for 2014 at 8.5% vs. consensus 9.3%. Also in the peer-group is Hold-rated Public Storage (PSA), which Wells Fargo expects will grow FFO just 7.3% this year.
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