Life Storage Inc (NYSE:LSI) has received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $97.25.
LSI has been the topic of a number of analyst reports. ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Evercore ISI downgraded Prologis from an “outperform” rating to an “in-line” rating and lifted their price target for the company from $75.00 to $78.00 in a research note on Monday, May 20th. Finally, Raymond James downgraded First Midwest Bancorp to a “hold” rating in a research note on Monday.
Shares of LSI stock traded up $0.47 during midday trading on Friday, hitting $100.63. The company had a trading volume of 21,801 shares, compared to its average volume of 359,917. The stock has a 50 day simple moving average of $97.39. Life Storage has a 52-week low of $88.92 and a 52-week high of $102.91. The firm has a market capitalization of $4.68 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 4.57 and a beta of 0.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.26 and a current ratio of 0.26.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Tuesday, July 16th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, July 15th. This represents a $4.00 dividend on an annualized basis and a yield of 3.97%. Life Storage’s payout ratio is 72.60%.
In other Life Storage news, Director Arthur L. Havener, Jr. sold 598 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $95.77, for a total transaction of $57,270.46. Following the sale, the director now directly owns 6,728 shares in the company, valued at $644,340.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of Life Storage by 5.2% in the fourth quarter. Stifel Financial Corp now owns 2,977 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 146 shares during the period. Cetera Advisor Networks LLC bought a new position in Life Storage during the 4th quarter valued at $211,000. Centersquare Investment Management LLC boosted its stake in Life Storage by 1,174.3% during the 1st quarter. Centersquare Investment Management LLC now owns 2,625 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 2,419 shares in the last quarter. Geode Capital Management LLC boosted its stake in Life Storage by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 629,965 shares of the real estate investment trust’s stock valued at $58,580,000 after purchasing an additional 42,438 shares in the last quarter. Finally, Oberweis Asset Management Inc. boosted its stake in Life Storage by 9.2% during the 4th quarter. Oberweis Asset Management Inc. now owns 7,120 shares of the real estate investment trust’s stock valued at $662,000 after purchasing an additional 600 shares in the last quarter. 95.76% 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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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