Life Storage, Inc. (NYSE:LSI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Life Storage, Inc. (NYSE:LSIGet Rating) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $147.00.

Several brokerages recently issued reports on LSI. Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Life Storage from $142.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, April 4th. BMO Capital Markets cut shares of Life Storage from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $150.00 to $130.00 in a research report on Thursday, May 19th. StockNews.com initiated coverage on shares of Life Storage in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Raymond James reduced their price target on shares of Life Storage from $145.00 to $125.00 in a research report on Monday.

In related news, CEO Joseph Saffire sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $130.95, for a total value of $1,178,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen R. Rusmisel sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $135.03, for a total transaction of $337,575.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock worth $2,054,285. 0.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC acquired a new stake in shares of Life Storage during the 4th quarter valued at $29,000. Allworth Financial LP raised its holdings in shares of Life Storage by 320.0% during the 1st quarter. Allworth Financial LP now owns 189 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Life Storage during the 1st quarter valued at $28,000. Meeder Asset Management Inc. bought a new position in shares of Life Storage during the 1st quarter valued at $28,000. Finally, Fifth Third Bancorp raised its holdings in shares of Life Storage by 70.8% during the 1st quarter. Fifth Third Bancorp now owns 222 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 92 shares in the last quarter. 91.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Life Storage stock opened at $115.10 on Friday. The firm has a market cap of $9.71 billion, a PE ratio of 33.35, a P/E/G ratio of 4.92 and a beta of 0.54. The company has a quick ratio of 1.44, a current ratio of 0.62 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average is $132.28 and its two-hundred day moving average is $134.91. Life Storage has a fifty-two week low of $98.09 and a fifty-two week high of $154.45.

Life Storage (NYSE:LSIGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). Life Storage had a return on equity of 8.71% and a net margin of 32.60%. The firm had revenue of $233.49 million for the quarter, compared to analyst estimates of $230.01 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 35.8% on a year-over-year basis. Equities research analysts anticipate that Life Storage will post 6.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Thursday, April 14th were given a $1.00 dividend. The ex-dividend date was Wednesday, April 13th. This represents a $4.00 annualized dividend and a yield of 3.48%. Life Storage’s dividend payout ratio (DPR) is 117.30%.

About Life Storage (Get Rating)

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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