Sovran Self Storage Inc (NYSE:SSS) was in 12 hedge funds’ portfolio at the end of March. SSS shareholders have witnessed an increase in enthusiasm from smart money lately. There were 11 hedge funds in our database with SSS positions at the end of the previous quarter.
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With all of this in mind, let’s take a look at the recent action surrounding Sovran Self Storage Inc (NYSE:SSS).
Hedge fund activity in Sovran Self Storage Inc (NYSE:SSS)
At Q1’s end, a total of 12 of the hedge funds we track were bullish in this stock, a change of 9% from the first quarter. With hedge funds’ capital changing hands, there exists a few key hedge fund managers who were upping their holdings significantly.
When looking at the hedgies we track, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in Sovran Self Storage Inc (NYSE:SSS). Fisher Asset Management has a $61.7 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Renaissance Technologies, managed by Jim Simons, which held a $44.2 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining peers with similar optimism include Ken Heebner’s Capital Growth Management, Cliff Asness’s AQR Capital Management and Ken Griffin’s Citadel Investment Group.
As one would reasonably expect, key hedge funds were leading the bulls’ herd. HBK Investments, managed by David Costen Haley, assembled the biggest position in Sovran Self Storage Inc (NYSE:SSS). HBK Investments had 0.4 million invested in the company at the end of the quarter.
How have insiders been trading Sovran Self Storage Inc (NYSE:SSS)?
Bullish insider trading is best served when the company we’re looking at has seen transactions within the past 180 days. Over the last half-year time frame, Sovran Self Storage Inc (NYSE:SSS) has seen zero unique insiders purchasing, and 6 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Sovran Self Storage Inc (NYSE:SSS). These stocks are Eastgroup Properties Inc (NYSE:EGP), CubeSmart (NYSE:CUBE), First Industrial Realty Trust, Inc. (NYSE:FR), Potlatch Corporation (NASDAQ:PCH), and DCT Industrial Trust Inc. (NYSE:DCT). This group of stocks belong to the reit – industrial industry and their market caps are closest to SSS’s market cap.