Life Storage Inc (NYSE:LSI) has been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $87.08.
LSI has been the topic of several recent research reports. DA Davidson increased their target price on Life Storage to $105.00 in a research report on Friday, August 3rd. TheStreet raised Life Storage from a “c+” rating to a “b” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Thursday, July 5th. ValuEngine raised Life Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Finally, Bank of America reaffirmed a “hold” rating and set a $93.00 target price (up previously from $90.00) on shares of Life Storage in a research report on Tuesday, May 8th.
In other news, President Kenneth F. Myszka sold 5,476 shares of the stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $91.00, for a total transaction of $498,316.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of LSI. Advisors Asset Management Inc. lifted 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 valued at $661,000 after purchasing an additional 436,907 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Life Storage by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,816,194 shares of the real estate investment trust’s stock valued at $274,044,000 after purchasing an additional 394,434 shares during the last quarter. Rothschild Asset Management Inc. purchased a new stake in shares of Life Storage during the 2nd quarter valued at $20,458,000. BlackRock Inc. lifted its holdings in shares of Life Storage by 3.0% during the 1st quarter. BlackRock Inc. now owns 5,324,131 shares of the real estate investment trust’s stock valued at $444,674,000 after purchasing an additional 153,870 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Life Storage by 717.1% during the 1st quarter. Nuveen Asset Management LLC now owns 90,421 shares of the real estate investment trust’s stock valued at $7,552,000 after purchasing an additional 79,355 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.
NYSE:LSI traded down $1.09 during midday trading on Tuesday, hitting $100.55. The stock had a trading volume of 546,991 shares, compared to its average volume of 435,893. Life Storage has a one year low of $72.84 and a one year high of $102.91. The stock has a market cap of $4.76 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.44. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.86.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.50). The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $135.97 million. Life Storage had a net margin of 24.04% and a return on equity of 6.53%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $1.33 EPS. sell-side analysts anticipate that Life Storage will post 5.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 26th. Stockholders of record on Monday, July 16th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, July 13th. This represents a $4.00 annualized dividend and a dividend yield of 3.98%. Life Storage’s dividend payout ratio is presently 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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