Life Storage Inc (LSI) Receives $91.50 Consensus PT from Analysts

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Life Storage Inc (NYSE:LSI) has earned an average rating of “Hold” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $91.50.

LSI has been the topic of several recent analyst reports. Citigroup increased their price target on shares of Life Storage from $83.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, July 12th. Bank of America increased their price target on shares of 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 shares of Life Storage and gave the company a “hold” rating in a research note on Tuesday, July 17th. BMO Capital Markets reiterated a “hold” rating and issued a $87.00 price target on shares of Life Storage in a research note on Wednesday, August 1st. Finally, DA Davidson increased their price target on shares of Life Storage to $105.00 in a research note on Friday, August 3rd.

In other news, President Kenneth F. Myszka sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $94.39, for a total transaction of $471,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in shares of Life Storage by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,969 shares of the real estate investment trust’s stock worth $1,749,000 after acquiring an additional 523 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Life Storage by 25.6% during the third quarter. Stratos Wealth Partners LTD. now owns 3,679 shares of the real estate investment trust’s stock worth $350,000 after purchasing an additional 750 shares during the period. Arizona State Retirement System lifted its holdings in shares of Life Storage by 2.5% during the third quarter. Arizona State Retirement System now owns 33,088 shares of the real estate investment trust’s stock worth $3,149,000 after purchasing an additional 792 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Life Storage by 1.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 57,521 shares of the real estate investment trust’s stock worth $5,474,000 after purchasing an additional 864 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Life Storage by 9.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 11,690 shares of the real estate investment trust’s stock worth $1,113,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

Shares of Life Storage stock opened at $94.32 on Friday. The company has a market capitalization 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 has a 52 week low of $76.42 and a 52 week high of $102.91. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.28 and a current ratio of 0.28.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $141.50 million for the quarter, compared to analyst estimates of $141.10 million. Life Storage had a net margin of 24.81% and a return on equity of 6.68%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share. Analysts anticipate that Life Storage will post 5.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Tuesday, October 16th were given a dividend of $1.00 per share. 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 dividend payout ratio (DPR) is presently 75.33%.

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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Analyst Recommendations for Life Storage (NYSE:LSI)

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