Evercore ISI downgraded shares of Life Storage, Inc. (NYSE:LSI) from an in-line rating to an underperform rating in a research report report published on Monday morning. The firm currently has $71.00 target price on the real estate investment trust’s stock, down from their prior target price of $77.00.

Several other equities analysts have also recently weighed in on LSI. Zacks Investment Research cut Life Storage from a hold rating to a sell rating in a research report on Monday, April 24th. FBR & Co set a $79.00 target price on Life Storage and gave the stock a hold rating in a research report on Thursday, May 4th. Cantor Fitzgerald cut Life Storage from an overweight rating to a neutral rating and set a $78.00 target price for the company. in a research report on Friday, May 5th. Bank of America Corporation cut Life Storage from a buy rating to a neutral rating and set a $82.00 target price for the company. in a research report on Tuesday, May 9th. Finally, Citigroup Inc. restated a buy rating and set a $92.00 target price (down from $100.00) on shares of Life Storage in a research report on Sunday, May 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Life Storage has an average rating of Hold and an average target price of $86.69.

Shares of Life Storage (NYSE LSI) traded down 0.42% during mid-day trading on Monday, hitting $71.87. The company had a trading volume of 106,849 shares. The company’s 50-day moving average is $73.95 and its 200 day moving average is $79.50. Life Storage has a one year low of $69.92 and a one year high of $100.77. The company has a market capitalization of $3.33 billion, a PE ratio of 62.88 and a beta of 0.56.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The company had revenue of $132.78 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 earnings per share. On average, equities research analysts forecast that Life Storage will post $2.27 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Monday, July 17th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s dividend payout ratio (DPR) is currently 347.83%.

A number of large investors have recently modified their holdings of the company. Capital Management Corp VA raised its stake in shares of Life Storage by 12.3% in the first quarter. Capital Management Corp VA now owns 88,595 shares of the real estate investment trust’s stock valued at $7,275,000 after buying an additional 9,711 shares during the period. Sit Investment Associates Inc. raised its stake in shares of Life Storage by 240.0% in the first quarter. Sit Investment Associates Inc. now owns 3,400 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 2,400 shares during the period. Mesirow Financial Investment Management Equity Management raised its stake in shares of Life Storage by 30.2% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 258,580 shares of the real estate investment trust’s stock valued at $21,234,000 after buying an additional 60,020 shares during the period. ProShare Advisors LLC raised its stake in shares of Life Storage by 152.3% in the first quarter. ProShare Advisors LLC now owns 42,147 shares of the real estate investment trust’s stock valued at $1,357,000 after buying an additional 25,439 shares during the period. Finally, Foster & Motley Inc. raised its stake in shares of Life Storage by 13.5% in the first quarter. Foster & Motley Inc. now owns 30,355 shares of the real estate investment trust’s stock valued at $2,493,000 after buying an additional 3,620 shares during the period. 96.44% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Life Storage (NYSE:LSI)

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