Citigroup Inc. reiterated their buy rating on shares of Life Storage, Inc. (NYSE:LSI) in a report released on Thursday morning. Citigroup Inc. currently has a $85.00 price target on the real estate investment trust’s stock, down from their previous price target of $98.00.

Several other research firms have also issued reports on LSI. Zacks Investment Research lowered shares of Life Storage from a hold rating to a sell rating in a research note on Monday, April 24th. TheStreet lowered shares of Life Storage from a b- rating to a c+ rating in a research note on Monday, June 19th. ValuEngine lowered shares of Life Storage from a buy rating to a hold rating in a research note on Friday, June 2nd. Cantor Fitzgerald lowered shares of Life Storage from an overweight rating to a neutral rating and set a $78.00 target price for the company. in a research note on Monday, May 15th. Finally, FBR & Co set a $79.00 target price on shares of Life Storage and gave the stock a hold rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $81.45.

Shares of Life Storage (NYSE LSI) traded down 2.02% on Thursday, hitting $72.13. 762,997 shares of the stock were exchanged. Life Storage has a 1-year low of $69.00 and a 1-year high of $95.05. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 63.11 and a beta of 0.56. The stock’s 50-day moving average is $73.35 and its 200-day moving average is $79.03.

Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The firm had revenue of $132.78 million during the quarter, compared to the consensus estimate of $132.62 million. During the same quarter in the previous year, the company earned $1.32 EPS. The business’s revenue was up 24.1% compared to the same quarter last year. Analysts forecast that Life Storage will post $2.21 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Monday, July 17th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, July 13th. This represents a $4.00 dividend on an annualized basis and a yield of 5.55%. Life Storage’s dividend payout ratio is presently 347.83%.

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Life Storage by 5,546.9% in the first quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock worth $406,317,000 after buying an additional 4,860,192 shares in the last quarter. Brookfield Asset Management Inc. raised its position in shares of Life Storage by 423.6% in the first quarter. Brookfield Asset Management Inc. now owns 1,135,200 shares of the real estate investment trust’s stock worth $93,223,000 after buying an additional 918,400 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Life Storage by 28.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock worth $217,386,000 after buying an additional 580,486 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Life Storage by 50.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock worth $120,467,000 after buying an additional 491,689 shares in the last quarter. Finally, RidgeWorth Capital Management LLC raised its position in shares of Life Storage by 43.2% in the first quarter. RidgeWorth Capital Management LLC now owns 689,600 shares of the real estate investment trust’s stock worth $56,630,000 after buying an additional 208,175 shares in the last quarter. Hedge funds and other institutional investors own 96.44% of the company’s stock.

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.

Analyst Recommendations for Life Storage (NYSE:LSI)

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