Life Storage, Inc. (LSI) Receives Consensus Rating of “Hold” from Analysts
Shares of Life Storage, Inc. (NYSE:LSI) have earned an average recommendation of “Hold” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $85.00.
A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Life Storage from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. Cantor Fitzgerald downgraded 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, May 5th. Bank of America Corporation reduced their price objective on shares of Life Storage from $82.00 to $76.00 and set a “neutral” rating on the stock in a research note on Thursday, July 20th. Citigroup Inc. reiterated a “buy” rating and set a $92.00 price objective (down from $100.00) on shares of Life Storage in a research note on Sunday, May 14th. Finally, FBR & Co set a $79.00 price objective on shares of Life Storage and gave the company a “hold” rating in a research note on Thursday, May 4th.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Life Storage by 2.5% in the first quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock valued at $599,367,000 after buying an additional 179,513 shares in the last quarter. BlackRock Inc. boosted its stake in Life Storage by 1.0% in the second quarter. BlackRock Inc. now owns 4,995,403 shares of the real estate investment trust’s stock valued at $370,160,000 after buying an additional 47,591 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Life Storage by 28.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock valued at $217,386,000 after buying an additional 580,486 shares in the last quarter. State Street Corp boosted its stake in Life Storage by 1.0% in the first quarter. State Street Corp now owns 2,045,152 shares of the real estate investment trust’s stock valued at $167,946,000 after buying an additional 20,956 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Life Storage by 50.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock valued at $120,467,000 after buying an additional 491,689 shares in the last quarter. Institutional investors and hedge funds own 96.44% of the company’s stock.
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Shares of Life Storage (LSI) traded down 2.02% during mid-day trading on Friday, hitting $72.13. 762,997 shares of the stock were exchanged. The stock has a market cap of $3.34 billion, a PE ratio of 63.11 and a beta of 0.56. Life Storage has a one year low of $69.00 and a one year high of $95.05. The company has a 50-day moving average of $73.35 and a 200 day moving average of $79.03.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. The firm had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. Life Storage’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 earnings per share. On average, equities analysts predict that Life Storage will post $2.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s dividend payout ratio (DPR) is currently 347.83%.
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.
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