Life Storage, Inc. (NYSE:LSI) Given Average Rating of “Hold” by Analysts
Shares of Life Storage, Inc. (NYSE:LSI) have been given a consensus recommendation of “Hold” by the sixteen research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $85.00.
LSI has been the subject of a number of research analyst reports. Citigroup Inc. reiterated a “buy” rating and issued a $92.00 target price (down from $100.00) on shares of Life Storage in a report on Sunday, May 14th. TheStreet downgraded Life Storage from a “b-” rating to a “c+” rating in a report on Monday, June 19th. FBR & Co set a $79.00 target price on Life Storage and gave the stock a “hold” rating in a report on Thursday, May 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 target price on shares of Life Storage in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Life Storage from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd.
Shares of Life Storage (LSI) traded down 2.02% during mid-day trading on Friday, hitting $72.13. The stock had a trading volume of 762,997 shares. The firm has a market capitalization of $3.34 billion, a PE ratio of 63.11 and a beta of 0.56. 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 $73.35 and its 200-day moving average is $79.03.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. The business had revenue of $132.78 million during the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Equities analysts expect that Life Storage will post $2.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, July 13th. This represents a $4.00 annualized dividend and a yield of 5.55%. Life Storage’s dividend payout ratio (DPR) is currently 347.83%.
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Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Life Storage by 2.5% in the first quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock valued at $599,367,000 after buying an additional 179,513 shares during the period. BlackRock Inc. increased its stake in shares of Life Storage by 1.0% in the second quarter. BlackRock Inc. now owns 4,995,403 shares of the real estate investment trust’s stock valued at $370,160,000 after buying an additional 47,591 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Life Storage by 28.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock valued at $217,386,000 after buying an additional 580,486 shares during the period. State Street Corp increased its stake in shares of Life Storage by 1.0% in the first quarter. State Street Corp now owns 2,045,152 shares of the real estate investment trust’s stock valued at $167,946,000 after buying an additional 20,956 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Life Storage by 50.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock valued at $120,467,000 after buying an additional 491,689 shares during the period. Institutional investors and hedge funds own 96.44% of the company’s stock.
About Life Storage
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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