Life Storage Inc (LSI) PT Set at $85.00 by FBR & Co
Life Storage Inc (NYSE:LSI) has been assigned a $85.00 target price by equities research analysts at FBR & Co in a report issued on Thursday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. FBR & Co’s price objective would indicate a potential upside of 0.64% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $96.00 price target on shares of Life Storage in a research note on Thursday, November 3rd. Cantor Fitzgerald set a $108.00 price target on shares of Life Storage and gave the company a “buy” rating in a research note on Wednesday, November 2nd. DA Davidson reaffirmed a “hold” rating on shares of Life Storage in a research note on Thursday, November 10th. TheStreet downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. Finally, Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a research report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $99.55.
Shares of Life Storage (NYSE:LSI) traded up 1.01% during midday trading on Thursday, reaching $85.31. 231,083 shares of the company traded hands. Life Storage has a 12-month low of $77.00 and a 12-month high of $118.18. The firm has a market capitalization of $3.94 billion, a PE ratio of 35.92 and a beta of 0.54. The company has a 50-day moving average of $83.00 and a 200 day moving average of $85.80.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, February 15th. The real estate investment trust reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.74. Life Storage had a net margin of 22.63% and a return on equity of 5.62%. On average, equities analysts forecast that Life Storage will post $2.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 26th. Stockholders of record on Tuesday, January 17th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Thursday, January 12th. Life Storage’s payout ratio is 152.61%.
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Several institutional investors have recently modified their holdings of LSI. Morgan Stanley bought a new position in shares of Life Storage during the third quarter worth approximately $91,627,000. Rhumbline Advisers bought a new position in shares of Life Storage during the third quarter worth approximately $9,072,000. Wells Fargo & Company MN bought a new position in shares of Life Storage during the third quarter worth approximately $5,675,000. BlackRock Fund Advisors bought a new position in shares of Life Storage during the third quarter worth approximately $182,920,000. Finally, BlackRock Institutional Trust Company N.A. bought a new position in shares of Life Storage during the third quarter worth approximately $165,193,000. 90.72% of the stock is currently owned by hedge funds and other institutional investors.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
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