Life Storage, Inc. (NYSE:LSI) announced a quarterly dividend on Tuesday, April 3rd, RTT News reports. Shareholders of record on Friday, April 13th will be given a dividend of 1.00 per share by the real estate investment trust on Thursday, April 26th. This represents a $4.00 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Thursday, April 12th.
Life Storage has a payout ratio of 75.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Life Storage to earn $5.42 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 73.8%.
Shares of Life Storage stock opened at $85.18 on Friday. Life Storage has a 1-year low of $69.00 and a 1-year high of $91.75. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.85. The company has a market cap of $3,968.73, a PE ratio of 16.04, a PEG ratio of 3.42 and a beta of 0.49.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.03. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The company had revenue of $133.08 million during the quarter, compared to the consensus estimate of $133.46 million. During the same quarter in the prior year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. research analysts forecast that Life Storage will post 5.37 earnings per share for the current year.
A number of brokerages have recently weighed in on LSI. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. Cantor Fitzgerald set a $84.00 price target on shares of Life Storage and gave the stock a “hold” rating in a report on Thursday, March 8th. Jefferies Group set a $82.00 price target on shares of Life Storage and gave the stock a “hold” rating in a report on Monday, March 5th. BMO Capital Markets raised shares of Life Storage from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $78.00 to $79.00 in a report on Friday, March 2nd. Finally, Citigroup reaffirmed a “hold” rating and set a $83.00 price target (down previously from $95.00) on shares of Life Storage in a report on Thursday, March 1st. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a strong buy rating to the stock. Life Storage has a consensus rating of “Hold” and a consensus target price of $81.29.
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Life Storage Company Profile
Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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