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

Life Storage, Inc. (NYSE:LSIGet Rating) has received a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $147.00.

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

Shares of LSI opened at $115.10 on Friday. 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 50-day moving average price is $132.28 and its 200-day moving average price is $134.91. The stock 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. Life Storage has a twelve month low of $98.09 and a twelve month high of $154.45.

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

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

In other news, CEO Joseph Saffire sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $134.54, for a total transaction of $538,160.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen R. Rusmisel sold 2,500 shares of the company’s stock in a transaction dated Friday, March 18th. The shares were 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. Insiders have sold 15,500 shares of company stock valued at $2,054,285 over the last three months. 0.50% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Hexagon Capital Partners LLC bought a new position in shares of Life Storage during the fourth quarter valued at approximately $29,000. Allworth Financial LP raised its holdings 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 buying an additional 144 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Life Storage in the first quarter worth $28,000. Meeder Asset Management Inc. purchased a new position in shares of Life Storage in the first quarter worth $28,000. Finally, Fifth Third Bancorp raised its holdings in shares of Life Storage by 70.8% in the first quarter. Fifth Third Bancorp now owns 222 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 92 shares during the last quarter. 91.67% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Articles

Analyst Recommendations for Life Storage (NYSE:LSI)

Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.