Life Storage Inc (NYSE:LSI) announced a quarterly dividend on Wednesday, October 2nd, Zacks reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 1.00 per share by the real estate investment trust on Monday, October 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Friday, October 11th.
Life Storage has a payout ratio of 73.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Life Storage to earn $5.79 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 69.1%.
Shares of Life Storage stock opened at $106.81 on Friday. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 4.82 and a beta of 0.33. The stock’s 50-day moving average is $104.38 and its 200-day moving average is $98.99. Life Storage has a one year low of $88.92 and a one year high of $106.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.63.
Several research firms recently issued reports on LSI. Robert W. Baird upgraded Life Storage from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $92.00 to $101.00 in a report on Wednesday, August 21st. Stifel Nicolaus began coverage on Life Storage in a report on Monday, August 19th. They set a “hold” rating and a $106.00 target price on the stock. KeyCorp upped their target price on Life Storage from $106.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Raymond James upped their target price on Life Storage from $106.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Finally, Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $104.38.
In other Life Storage news, COO Edward F. Killeen sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $105.06, for a total transaction of $157,590.00. Following the transaction, the chief operating officer now owns 26,998 shares of the company’s stock, valued at $2,836,409.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles E. Lannon sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 117,152 shares in the company, valued at approximately $12,124,060.48. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $679,690 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.
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.
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