ValuEngine cut shares of Life Storage (NYSE:LSI) from a buy rating to a hold rating in a report published on Friday.
LSI has been the subject of several other reports. BMO Capital Markets restated a hold rating and issued a $87.00 price target on shares of Life Storage in a research note on Wednesday, August 1st. Bank of America boosted their price target on Life Storage from $98.00 to $100.00 and gave the company a neutral rating in a research note on Monday, July 16th. Jefferies Financial Group set a $95.00 price target on Life Storage and gave the company a hold rating in a research note on Tuesday, July 17th. Zacks Investment Research raised Life Storage from a hold rating to a buy rating and set a $109.00 price objective for the company in a report on Thursday, July 5th. Finally, DA Davidson lifted their price objective on Life Storage to $105.00 in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned 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 target price of $91.50.
LSI opened at $94.24 on Friday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 16.66, a PEG ratio of 3.69 and a beta of 0.33. Life Storage has a 1 year low of $76.42 and a 1 year high of $102.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.87.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The business had revenue of $141.50 million during the quarter, compared to the consensus estimate of $141.10 million. Life Storage had a return on equity of 6.68% and a net margin of 24.81%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, research analysts expect that Life Storage will post 5.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Tuesday, October 16th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $4.00 annualized dividend and a yield of 4.24%. Life Storage’s dividend payout ratio is presently 75.33%.
In other Life Storage news, President Kenneth F. Myszka sold 5,000 shares of Life Storage stock in a transaction on Monday, November 5th. The stock was sold at an average price of $94.39, for a total value of $471,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. raised its holdings in shares of Life Storage by 22,651.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,456,114 shares of the real estate investment trust’s stock worth $138,564,000 after buying an additional 1,449,714 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Life Storage by 21.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,425,183 shares of the real estate investment trust’s stock worth $325,940,000 after buying an additional 608,989 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Life Storage by 6,003.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 444,184 shares of the real estate investment trust’s stock worth $661,000 after buying an additional 436,907 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Life Storage by 1,718.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 335,509 shares of the real estate investment trust’s stock worth $31,968,000 after buying an additional 317,057 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Life Storage during the 3rd quarter worth $23,982,000. 96.81% of the stock is owned by hedge funds and other institutional investors.
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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