Life Storage, Inc. (NYSE:LSI) Given Average Rating of “Buy” by Analysts

Life Storage, Inc. (NYSE:LSI) has been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $93.33.

A number of research analysts have weighed in on the stock. Evercore ISI upgraded shares of Life Storage from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $82.00 to $94.00 in a research report on Monday, March 1st. Wells Fargo & Company boosted their target price on shares of Life Storage from $75.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, April 1st. Truist Securities boosted their target price on shares of Life Storage from $88.00 to $98.00 and gave the company a “hold” rating in a research note on Friday, June 4th. Truist boosted their target price on shares of Life Storage from $85.00 to $88.00 in a research note on Friday, March 5th. Finally, Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th.

LSI stock opened at $107.37 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.31 and a quick ratio of 0.31. Life Storage has a twelve month low of $60.67 and a twelve month high of $107.51. The company has a market capitalization of $8.25 billion, a PE ratio of 47.93, a price-to-earnings-growth ratio of 6.47 and a beta of 0.33. The company’s fifty day moving average price is $95.80.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Tuesday, May 4th. The real estate investment trust reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.38). Life Storage had a net margin of 25.33% and a return on equity of 7.15%. The firm had revenue of $171.89 million for the quarter, compared to the consensus estimate of $164.24 million. During the same quarter last year, the firm earned $0.52 EPS. The company’s revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that Life Storage will post 4.44 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 26th. Investors of record on Wednesday, April 14th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Tuesday, April 13th. Life Storage’s dividend payout ratio (DPR) is presently 74.56%.

In related news, Director Arthur L. Havener, Jr. sold 601 shares of the company’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $95.69, for a total value of $57,509.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Saffire sold 6,000 shares of the company’s stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $96.55, for a total transaction of $579,300.00. Over the last ninety days, insiders sold 13,301 shares of company stock valued at $1,277,029. 0.90% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its holdings in Life Storage by 147.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 42,776 shares of the real estate investment trust’s stock worth $5,104,000 after purchasing an additional 25,504 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Life Storage by 35.5% in the first quarter. Alliancebernstein L.P. now owns 149,011 shares of the real estate investment trust’s stock worth $12,807,000 after purchasing an additional 39,066 shares in the last quarter. Pensionfund Sabic raised its holdings in Life Storage by 82.5% in the first quarter. Pensionfund Sabic now owns 14,600 shares of the real estate investment trust’s stock worth $1,255,000 after purchasing an additional 6,600 shares in the last quarter. Bell Bank raised its holdings in Life Storage by 50.0% in the first quarter. Bell Bank now owns 9,900 shares of the real estate investment trust’s stock worth $851,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in Life Storage by 44.5% in the first quarter. Texas Permanent School Fund now owns 56,377 shares of the real estate investment trust’s stock worth $4,846,000 after purchasing an additional 17,356 shares in the last quarter. 95.39% of the stock is owned by institutional investors.

About Life Storage

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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