Sovran Self Storage Inc (SSS) Releases Earnings Results, Beats Expectations By $0.02 EPS

Sovran Self Storage Inc (SSS) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $1.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.20. The company posted revenue of $99.10 million in the period, compared to analysts expectations of $97.45 million. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.

Many Wall Street Analysts have commented on Sovran Self Storage Inc. Company shares were Downgraded by UBS on Mar 18, 2016 to ” Neutral”, Firm has raised the Price Target to $ 113 from a previous price target of $109 .Sovran Self Storage Inc was Upgraded by Raymond James to ” Outperform” on Mar 4, 2016.

Sovran Self Storage Inc opened for trading at $107.72 and hit $108.28 on the upside on Friday, eventually ending the session at $107.86, with a gain of 0.24% or 0.26 points. The heightened volatility saw the trading volume jump to 2,45,924 shares. Company has a market cap of $4,250 M.

In a different news, on Dec 11, 2015, Kenneth F Myszka (President) sold 1,384 shares at $100.04 per share price. According to the SEC, on Nov 30, 2015, Robert J Attea (Executive Chairman of Board) sold 3,038 shares at $100.27 per share price. On Sep 18, 2015, David L Rogers (CEO) sold 2,901 shares at $92.82 per share price, according to the Form-4 filing with the securities and exchange commission.

Sovran Self Storage Inc. (Sovran) is a self-administered and self-managed real estate investment trust (REIT). The Company acquires owns and manages self-storage properties. As of December 31 2014 it held ownership interests in leased and/or managed 518 properties consisting of approximately 35.5 million net rentable square feet situated in 25 states. Among its 518 self-storage properties are 39 properties that it manages for an unconsolidated joint venture of which the Company is a 20% owner 30 properties that it manages for an unconsolidated joint venture of which the Company is a 15% owner 17 properties that it manages and in which the Company has no ownership interest and four properties that it leases. The Company’s properties conduct business under the name Uncle Bob’s Self-Storage. As of December 31 2014 the Company owns an indirect interest in 497 of the Properties through a limited partnership.

Sovran Self Storage Inc

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