Sovran Self Storage Inc. Announces Quarterly Dividend of $0.53 (SSS)
Sovran Self Storage (NYSE:SSS) announced a quarterly dividend on Wednesday, October 2nd, StockRatingsNetwork reports. Investors of record on Monday, October 14th will be paid a dividend of $0.53 per share on Monday, October 28th. This represents a $2.12 annualized dividend and a dividend yield of 2.74%.
SSS has been the subject of a number of recent research reports. Analysts at Macquarie initiated coverage on shares of Sovran Self Storage (NYSE:SSS) in a research note to investors on Tuesday, September 10th. They set an “outperform” rating on the stock. On a related note, analysts at Zacks upgraded shares of Sovran Self Storage (NYSE:SSS) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 2nd. They now have a $75.20 price target on the stock. Finally, analysts at Raymond James initiated coverage on shares of Sovran Self Storage (NYSE:SSS) in a research note to investors on Wednesday, August 28th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $71.24.
Shares of Sovran Self Storage (NYSE:SSS) traded down 0.46% during mid-day trading on Wednesday, hitting $77.12. The stock had a trading volume of 13,026 shares. Sovran Self Storage has a 1-year low of $55.66 and a 1-year high of $77.98. The stock has a 50-day moving average of $71.03 and a 200-day moving average of $68.07. The company has a market cap of $2.412 billion and a price-to-earnings ratio of 36.77.
Sovran Self Storage (NYSE:SSS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.90 by $0.04. The company had revenue of $67.62 million for the quarter, compared to the consensus estimate of $62.97 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, analysts predict that Sovran Self Storage will post $3.70 earnings per share for the current fiscal year.
In other Sovran Self Storage news, EVP Paul Powell sold 1,000 shares of the stock on the open market in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.95, for a total transaction of $75,950.00. Following the completion of the transaction, the executive vice president now directly owns 21,834 shares in the company, valued at approximately $1,658,292. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Sovran Self Storage, Inc (NYSE:SSS) together with its subsidiaries and its joint ventures, is a self-administered and self-managed real estate investment trust (REIT) that acquires, owns and manages self-storage properties.
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