There’s an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock but only one reason to buy.
Back on Mar. 4, Sovran Self Storage Inc‘s (NYSE:SSS) Director, Stephen R. Rusmisel, invested $24,753.60 into 270 shares of SSS for a cost per share of $91.68. Bargain hunters tend to pay particular attention to insider buys like this one because presumably, the only reason an insider would take his hard-earned cash and use it to buy stock of his company in the open market is that he expects to make money.
In trading on Tuesday, bargain hunters could buy shares of Sovran Self Storage and achieve a cost basis 3.6% cheaper than Rusmisel, with shares changing hands as low as $88.36 per share. Sovran Self Storage stock is currently trading off about 0.1% on the day.
The chart below shows the one-year performance of SSS stock versus its 200-day moving average:
Looking at the chart above, SSS stock’s low point in its 52-week range is $71.98 per share, with $97.53 as the 52-week high point — that compares with a last trade of $88.44.
By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
|03/04/2015||Stephen R. Rusmisel||Director||270||$91.68||$24,753.60|
|03/05/2015||Mark G. Barberio||Director||1,000||$91.16||$91,160.00|
The current annualized dividend paid by Sovran Self Storage is $3 per share, currently paid in quarterly installments, and SSS stock’s most recent dividend ex-date was on Jan. 14.
Below is a long-term dividend history chart for SSS, which can be of good help in judging whether the most recent dividend with approx. 3.4% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, SSS makes up 1.66% of the iShares Residential Real Estate Capped ETF (NYSEARCA:REZ), which is trading up by about 0.1% on the day Tuesday.