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Article: Sovran Self Storage Reports Third Quarter Results; Credit Rating Upgrade.
- Article from:
- Real Estate Weekly News
- Article date:
- November 20, 2009
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Sovran Self Storage, Inc. (NYSE:SSS), a self-storage real estate investment trust (REIT), reported operating results for the quarter ended September 30, 2009.
Net income available to common shareholders for the third quarter of 2009 was $7.5 million or $.32 per diluted share. Net income available to common shareholders for the same period in 2008 was $9.5 million or $.44 per diluted share. Funds from operations for the quarter were $.68 per fully diluted common share. Higher interest expense and increased customer move-in incentives were the primary factors leading to lower earnings for 2009's third quarter.
Subsequent to the end of the quarter, the ...