Sovran Self Storage Lowered to “Market Perform” at Raymond James (SSS)
Sovran Self Storage (NYSE:SSS) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $75.00 target price on the stock. Raymond James’ price target suggests a potential downside of 2.72% from the company’s current price.
A number of other firms have also recently commented on SSS. Analysts at Macquarie initiated coverage on shares of Sovran Self Storage in a research note to investors on Tuesday, September 10th. They set an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Sovran Self Storage 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 UBS AG upgraded shares of Sovran Self Storage from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $71.87.
Shares of Sovran Self Storage (NYSE:SSS) traded down 1.43% on Tuesday, hitting $76.00. 117,708 shares of the company’s stock traded hands. Sovran Self Storage has a 52 week low of $55.66 and a 52 week high of $79.59. The stock’s 50-day moving average is $74.06 and its 200-day moving average is $69.36. The company has a market cap of $2.377 billion and a P/E ratio of 36.59.
Sovran Self Storage (NYSE:SSS) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.94 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.77 earnings per share.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 28th. Shareholders of record on Monday, October 14th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, October 9th.
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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