Life Storage Inc (NYSE:LSI) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $100.17.
A number of research firms recently issued reports on LSI. KeyCorp upped their price target on shares of Life Storage from $106.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Raymond James raised shares of Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 target price on the stock in a research note on Monday, July 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI raised shares of Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 target price on the stock in a research note on Monday, May 20th.
Life Storage stock traded down $1.67 during mid-day trading on Tuesday, reaching $101.00. 450,123 shares of the company’s stock traded hands, compared to its average volume of 370,231. The stock has a market capitalization of $4.81 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 4.68 and a beta of 0.37. The firm’s 50 day moving average price is $98.95. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.63 and a current ratio of 0.63. Life Storage has a 12-month low of $88.92 and a 12-month high of $103.68.
The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Tuesday, July 16th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Monday, July 15th. Life Storage’s dividend payout ratio is currently 72.60%.
In other news, Director Charles E. Lannon sold 2,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $103.49, for a total value of $206,980.00. Following the sale, the director now owns 117,152 shares of the company’s stock, valued at $12,124,060.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LSI. PGGM Investments bought a new position in shares of Life Storage in the second quarter worth about $227,266,000. Long Pond Capital LP bought a new position in shares of Life Storage in the second quarter worth about $53,694,000. Norges Bank bought a new position in shares of Life Storage in the fourth quarter worth about $44,902,000. Northern Trust Corp grew its holdings in shares of Life Storage by 47.1% in the first quarter. Northern Trust Corp now owns 924,685 shares of the real estate investment trust’s stock worth $89,944,000 after purchasing an additional 296,148 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Life Storage in the second quarter worth about $12,902,000. Hedge funds and other institutional investors own 97.87% of the company’s stock.
About Life Storage
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.
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