Life Storage, Inc. (NYSE:LSI) has been given an average recommendation of “Hold” by the eighteen brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $82.08.
Several research firms have weighed in on LSI. Cantor Fitzgerald set a $84.00 target price on shares of Life Storage and gave the company a “hold” rating in a research note on Thursday, March 8th. Robert W. Baird downgraded shares of Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 price target for the company. in a report on Thursday, January 25th. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. ValuEngine raised shares of Life Storage from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Finally, Bank of America reissued a “hold” rating and set a $93.00 price target (up previously from $90.00) on shares of Life Storage in a report on Tuesday, May 8th.
In other Life Storage news, CEO David L. Rogers sold 26,951 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $92.84, for a total value of $2,502,130.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Attea sold 27,679 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $92.52, for a total transaction of $2,560,861.08. The disclosure for this sale can be found here. Insiders sold 68,630 shares of company stock valued at $6,337,272 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Solaris Asset Management LLC bought a new position in Life Storage during the fourth quarter worth about $112,000. Acadian Asset Management LLC bought a new stake in shares of Life Storage in the 4th quarter valued at about $131,000. Wolverine Asset Management LLC bought a new stake in shares of Life Storage in the 4th quarter valued at about $185,000. Bridgeworth LLC bought a new stake in shares of Life Storage in the 1st quarter valued at about $215,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in shares of Life Storage in the 4th quarter valued at about $224,000.
Life Storage traded down $0.47, hitting $89.54, during mid-day trading on Friday, Marketbeat reports. 7,326 shares of the company’s stock traded hands, compared to its average volume of 429,536. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.87. Life Storage has a 1 year low of $90.34 and a 1 year high of $90.64. The company has a market capitalization of $4.21 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 3.61 and a beta of 0.47.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.55). Life Storage had a return on equity of 5.52% and a net margin of 20.55%. The firm had revenue of $133.10 million for the quarter, compared to analysts’ expectations of $134.71 million. During the same quarter last year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. equities research analysts predict that Life Storage will post 5.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 26th. Investors of record on Friday, April 13th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Thursday, April 12th. Life Storage’s payout ratio is currently 75.33%.
About Life Storage
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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