Life Storage Inc (NYSE:LSI) has received an average recommendation of “Hold” from the thirteen analysts that are presently covering the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $93.78.
Several analysts have weighed in on the stock. Cantor Fitzgerald cut shares of Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Friday. FBR & Co set a $79.00 price objective on shares of Life Storage and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research cut shares of Life Storage from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. SunTrust Banks, Inc. cut shares of Life Storage from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Thursday, January 19th. Finally, TheStreet raised shares of Life Storage from a “c+” rating to a “b-” rating in a research note on Wednesday, February 22nd.
Life Storage (NYSE:LSI) traded up 0.28% on Monday, reaching $74.71. The company’s stock had a trading volume of 550,710 shares. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 38.12 and a beta of 0.54. The stock has a 50 day moving average price of $82.88 and a 200-day moving average price of $83.16. Life Storage has a 1-year low of $72.08 and a 1-year high of $116.22.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.01. Life Storage had a return on equity of 5.62% and a net margin of 22.63%. The business earned $128.30 million during the quarter, compared to analyst estimates of $128.19 million. Life Storage’s revenue was up 29.5% compared to the same quarter last year. Equities analysts predict that Life Storage will post $2.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Tuesday, April 18th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.35%. This is a positive change from Life Storage’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, April 13th. Life Storage’s dividend payout ratio (DPR) is presently 152.61%.
In related news, Director Mark G. Barberio acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average cost of $82.97 per share, for a total transaction of $82,970.00. Following the completion of the acquisition, the director now directly owns 815 shares in the company, valued at approximately $67,620.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kenneth F. Myszka sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $86.42, for a total transaction of $432,100.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Life Storage during the third quarter worth approximately $2,664,000. Nationwide Fund Advisors bought a new stake in shares of Life Storage during the third quarter worth approximately $7,334,000. California Public Employees Retirement System bought a new stake in shares of Life Storage during the third quarter worth approximately $8,694,000. Louisiana State Employees Retirement System bought a new stake in shares of Life Storage during the third quarter worth approximately $1,067,000. Finally, IBM Retirement Fund bought a new stake in shares of Life Storage during the third quarter worth approximately $381,000. Institutional investors and hedge funds own 90.72% of the company’s stock.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.