Stifel Nicolaus started coverage on shares of Life Storage (NYSE:LSI) in a research report report published on Monday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $106.00 price objective on the real estate investment trust’s stock.
A number of other research firms have also weighed in on LSI. Raymond James upgraded shares of Life Storage from a market perform rating to an outperform rating and set a $106.00 price objective on the stock in a research report on Monday, July 8th. They noted that the move was a valuation call. KeyCorp lifted their price objective on shares of Life Storage from $106.00 to $110.00 and gave the company an overweight rating in a research report on Monday, August 5th. Zacks Investment Research lowered shares of Life Storage from a buy rating to a hold rating in a research report on Friday, August 16th. Finally, Evercore ISI upgraded shares of Life Storage from an underperform rating to an in-line rating and set a $100.00 price objective on the stock in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $102.56.
Shares of LSI opened at $104.92 on Monday. The company’s 50 day simple moving average is $100.25 and its 200-day simple moving average is $97.65. Life Storage has a 12-month low of $88.92 and a 12-month high of $105.38. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.92. The firm has a market cap of $4.83 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 4.69 and a beta of 0.37.
Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.54). Life Storage had a net margin of 37.17% and a return on equity of 10.21%. The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $142.96 million. During the same quarter last year, the business earned $1.39 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Life Storage will post 5.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, July 16th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Monday, July 15th. Life Storage’s dividend payout ratio (DPR) is currently 72.60%.
In other Life Storage news, Director Charles E. Lannon sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $103.49, for a total value of $206,980.00. Following the completion of the sale, the director now owns 117,152 shares of the company’s stock, valued at $12,124,060.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new stake in Life Storage in the second quarter valued at $28,000. TRUE Private Wealth Advisors acquired a new position in shares of Life Storage during the 2nd quarter worth $85,000. Quadrant Capital Group LLC raised its stake in shares of Life Storage by 867.0% during the 1st quarter. Quadrant Capital Group LLC now owns 938 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 841 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Life Storage by 228.0% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 984 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 684 shares during the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Life Storage during the 1st quarter worth $98,000. 99.45% of the stock is owned by institutional investors.
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
Further Reading: Understanding Analyst Ratings
Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.