U-Store-It Trust (NYSE:YSI) is an REIT (real estate investment trust) operating in the self storage
unit space. The company has recently undergone several changes aimed to
help the company recover after falling from $22 in April down to $16 in
June. The company announced today in a series of
Form 4 filings with the SEC that its CEO Dean Jernigan purchased a total of 195,000 shares (or about $3.9 million) on September 5th and 6th at an average cost of $19.88. Analysts applauded the move with Merrill Lynch's Christopher Pike maintaining his target of $21 saying that they "believe that an operational turnaround is far from fully priced into U-Store-It's stock".
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