Wells Fargo Removes Buy Ratings on Two Self Storage REIT’s

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.

Wells Fargo is the fourth largest bank in the US by assets and the second largest bank by market capitalization.

Source: http://www.streetinsider.com

For more information about the self storage business, please contact San Clemente Self Storage at 949-366-1133.