Life Storage Inc (NYSE:LSI) President Kenneth F. Myszka sold 5,000 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $94.39, for a total value of $471,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE LSI opened at $94.32 on Wednesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.87. Life Storage Inc has a 1-year low of $76.42 and a 1-year high of $102.91. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 3.69 and a beta of 0.33.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.88 EPS for the quarter, meeting analysts’ consensus estimates of $0.88. Life Storage had a return on equity of 6.68% and a net margin of 24.81%. The business had revenue of $141.50 million for the quarter, compared to the consensus estimate of $141.10 million. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts expect that Life Storage Inc will post 5.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.24%. Life Storage’s payout ratio is currently 75.33%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of Life Storage in the 2nd quarter valued at about $104,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Life Storage by 333.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 1,000 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Life Storage in the 2nd quarter valued at about $145,000. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Life Storage in the 2nd quarter valued at about $206,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Life Storage in the 2nd quarter valued at about $208,000. Institutional investors and hedge funds own 96.81% of the company’s stock.
Several equities research analysts recently issued reports on the company. ValuEngine downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Citigroup cut their price target on Life Storage from $100.00 to $91.00 and set a “neutral” rating on the stock in a report on Friday, October 5th. SunTrust Banks restated a “hold” rating and set a $95.00 price target on shares of Life Storage in a report on Monday, September 24th. Zacks Investment Research upgraded Life Storage from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Thursday, August 23rd. Finally, DA Davidson upped their price target on Life Storage to $105.00 in a report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $91.50.
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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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