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

Posted by on May 27th, 2022

Life Storage, Inc. (NYSE:LSI – Get Rating) has been given a consensus rating of “Buy” by the eleven analysts that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $147.00.

LSI has been the subject of several recent research reports. Raymond James reduced their price target on Life Storage from $145.00 to $125.00 in a research note on Monday. StockNews.com began coverage on Life Storage in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Life Storage from $142.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Finally, BMO Capital Markets cut Life Storage from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $150.00 to $130.00 in a report on Thursday, May 19th.

In related news, Director Stephen R. Rusmisel sold 2,500 shares of Life Storage stock in a transaction on Friday, March 18th. The stock was sold at an average price of $135.03, for a total transaction of $337,575.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Saffire sold 4,000 shares of Life Storage stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $134.54, for a total value of $538,160.00. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $2,054,285 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC bought a new stake in shares of Life Storage in the fourth quarter worth about $29,000. Allworth Financial LP grew its stake in shares of Life Storage by 320.0% in the first quarter. Allworth Financial LP now owns 189 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 144 shares during the last quarter. Whittier Trust Co. bought a new stake in Life Storage during the 1st quarter valued at approximately $28,000. Meeder Asset Management Inc. bought a new stake in Life Storage during the 1st quarter valued at approximately $28,000. Finally, Fifth Third Bancorp boosted its position in 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 acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 91.67% of the company’s stock.

Shares of Life Storage stock opened at $115.10 on Friday. The business’s 50 day simple moving average is $132.28 and its 200 day simple moving average is $134.91. Life Storage has a 52-week low of $98.09 and a 52-week high of $154.45. 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 debt-to-equity ratio of 0.84, a quick ratio of 1.44 and a current ratio of 0.62.

Life Storage (NYSE:LSI – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). Life Storage had a net margin of 32.60% and a return on equity of 8.71%. The company had revenue of $233.49 million during the quarter, compared to the consensus estimate of $230.01 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was up 35.8% compared to the same quarter last year. As a group, equities research analysts predict that Life Storage will post 6.13 EPS for the current year.

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

Life Storage Company Profile (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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Analyst Recommendations for Life Storage (NYSE:LSI)

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