Life Storage Inc (LSI) Rating Reiterated by BMO Capital Markets
Life Storage Inc (NYSE:LSI)‘s stock had its “buy” rating reissued by BMO Capital Markets in a research report issued on Wednesday. They presently have a $96.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target indicates a potential upside of 10.45% from the stock’s current price.
A number of other research analysts have also recently commented on LSI. Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a research report on Thursday, December 15th. Robert W. Baird lowered Life Storage from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $108.00 to $92.00 in a research note on Thursday, January 5th. SunTrust Banks, Inc. lowered Life Storage from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Thursday, January 19th. FBR & Co set a $85.00 price objective on Life Storage and gave the company a “hold” rating in a research note on Thursday, February 16th. Finally, TheStreet upgraded Life Storage from a “c+” rating to a “b-” rating in a research note on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $98.36.
Life Storage (NYSE:LSI) opened at 86.92 on Wednesday. Life Storage has a 12 month low of $77.00 and a 12 month high of $116.22. The company’s 50-day moving average is $84.78 and its 200 day moving average is $83.76. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 44.35 and a beta of 0.54.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, February 15th. The real estate investment trust reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.01. Life Storage had a return on equity of 5.62% and a net margin of 22.63%. The firm had revenue of $128.68 million for the quarter, compared to analysts’ expectations of $127.74 million. Equities analysts forecast that Life Storage will post $2.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Tuesday, April 18th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $4.00 annualized dividend and a dividend yield of 4.60%. This is a positive change from Life Storage’s previous quarterly dividend of $0.95. Life Storage’s dividend payout ratio is currently 152.61%.
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In related news, Director Mark G. Barberio acquired 1,000 shares of Life Storage stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average price of $82.97 per share, with a total value of $82,970.00. Following the transaction, the director now directly owns 815 shares in the company, valued at $67,620.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kenneth F. Myszka sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $86.42, for a total value of $432,100.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LSI. PNC Financial Services Group Inc. acquired a new stake in Life Storage during the third quarter worth approximately $115,000. WFG Advisors LP raised its stake in Life Storage by 1,210.7% in the fourth quarter. WFG Advisors LP now owns 3,539 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 3,269 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Life Storage during the third quarter worth approximately $151,000. Tower Research Capital LLC TRC acquired a new stake in Life Storage during the third quarter worth approximately $162,000. Finally, Riverhead Capital Management LLC acquired a new stake in Life Storage during the third quarter worth approximately $187,000. 90.72% of the stock is owned by institutional investors.
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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