Life Storage, Inc. (NYSE:LSI) had its price target trimmed by Bank of America Corporation from $82.00 to $76.00 in a research report sent to investors on Thursday, July 20th. The firm currently has a neutral rating on the real estate investment trust’s stock.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Life Storage from a hold rating to a sell rating in a research note on Monday, April 24th. Cantor Fitzgerald lowered Life Storage from an overweight rating to a neutral rating and set a $78.00 price target on the stock. in a research note on Friday, May 5th. Citigroup Inc. reissued a buy rating and issued a $92.00 price target (down from $100.00) on shares of Life Storage in a research note on Sunday, May 14th. FBR & Co set a $79.00 price target on Life Storage and gave the company a hold rating in a research note on Thursday, May 4th. Finally, ValuEngine downgraded Life Storage from a buy rating to a hold rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Life Storage currently has an average rating of Hold and an average price target of $81.45.
Shares of Life Storage (NYSE:LSI) traded down 1.20% during mid-day trading on Thursday, hitting $71.81. The stock had a trading volume of 620,476 shares. Life Storage has a 1-year low of $69.00 and a 1-year high of $95.05. The stock’s 50-day moving average is $73.14 and its 200-day moving average is $78.83. The firm has a market capitalization of $3.33 billion, a PE ratio of 62.83 and a beta of 0.56.
Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. The company had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. Life Storage’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities analysts expect that Life Storage will post $2.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Monday, July 17th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $4.00 annualized dividend and a yield of 5.50%. Life Storage’s dividend payout ratio is currently 347.83%.
A number of hedge funds and other institutional investors have recently bought and sold shares of LSI. Westwood Holdings Group Inc. boosted its position in shares of Life Storage by 0.8% in the second quarter. Westwood Holdings Group Inc. now owns 9,770 shares of the real estate investment trust’s stock worth $724,000 after buying an additional 75 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Life Storage by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 13,914 shares of the real estate investment trust’s stock worth $1,031,000 after buying an additional 210 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Life Storage by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 68,554 shares of the real estate investment trust’s stock worth $5,080,000 after buying an additional 1,241 shares in the last quarter. Shelton Capital Management purchased a new position in shares of Life Storage during the second quarter worth approximately $255,000. Finally, Macquarie Group Ltd. boosted its position in shares of Life Storage by 373.4% in the second quarter. Macquarie Group Ltd. now owns 709,252 shares of the real estate investment trust’s stock worth $52,555,000 after buying an additional 559,428 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors and hedge funds.
Life Storage Company Profile
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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