News headlines about Life Storage (NYSE:LSI) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Life Storage earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 46.0094082802717 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Shares of Life Storage (NYSE:LSI) traded down $1.79 during trading on Wednesday, reaching $87.48. 522,200 shares of the company’s stock traded hands, compared to its average volume of 485,426. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85. Life Storage has a 12-month low of $69.00 and a 12-month high of $89.63. The company has a market capitalization of $4,152.94, a PE ratio of 16.87, a PEG ratio of 3.75 and a beta of 0.59.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Friday, October 13th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, October 12th. Life Storage’s dividend payout ratio (DPR) is presently 199.01%.
Life Storage announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts recently weighed in on the stock. B. Riley set a $70.00 price objective on shares of Life Storage and gave the company a “sell” rating in a research note on Tuesday. Cantor Fitzgerald lifted their price objective on shares of Life Storage from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. BidaskClub upgraded shares of Life Storage from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research cut shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $75.00 price objective on shares of Life Storage in a research note on Friday, November 3rd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $78.79.
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In other Life Storage news, insider Paul T. Powell purchased 700 shares of the company’s stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the completion of the transaction, the insider now owns 44,996 shares in the company, valued at $3,220,363.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew J. Gregoire purchased 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the purchase, the chief financial officer now directly owns 48,173 shares in the company, valued at approximately $3,451,595.45. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 3,190 shares of company stock worth $230,042. 1.90% of the stock is owned by company insiders.
Life Storage Company Profile
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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