Life Storage, Inc. (LSI) Price Target Increased to $81.00 by Analysts at Cantor Fitzgerald
Life Storage, Inc. (NYSE:LSI) had its price objective upped by Cantor Fitzgerald from $73.00 to $81.00 in a research report sent to investors on Friday morning. The firm currently has a neutral rating on the real estate investment trust’s stock.
LSI has been the topic of several other research reports. UBS AG reiterated a neutral rating and issued a $75.00 price objective (down previously from $80.00) on shares of Life Storage in a research note on Wednesday, August 9th. Evercore ISI cut shares of Life Storage from an in-line rating to an underperform rating and lowered their price objective for the stock from $77.00 to $71.00 in a research note on Monday, August 7th. Citigroup Inc. reiterated a buy rating and issued a $85.00 price objective (down previously from $98.00) on shares of Life Storage in a research note on Thursday, August 10th. BMO Capital Markets reiterated a sell rating and issued a $73.00 price objective on shares of Life Storage in a research note on Thursday, November 2nd. Finally, SunTrust Banks, Inc. reiterated a hold rating and issued a $75.00 price objective on shares of Life Storage in a research note on Friday, November 3rd. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Life Storage has a consensus rating of Hold and a consensus target price of $79.46.
Life Storage (NYSE:LSI) traded up $0.62 on Friday, reaching $89.24. 426,900 shares of the company’s stock traded hands, compared to its average volume of 484,821. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.85. The company has a market cap of $4,150.00, a PE ratio of 16.75, a P/E/G ratio of 3.72 and a beta of 0.59. Life Storage has a 1-year low of $69.00 and a 1-year high of $89.62.
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The company also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Friday, October 13th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.48%. The ex-dividend date was Thursday, October 12th. Life Storage’s dividend payout ratio is 199.00%.
Life Storage announced that its board has initiated a stock buyback program on Wednesday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
In other news, Director Arthur L. Havener, Jr. bought 990 shares of Life Storage stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $73.20 per share, with a total value of $72,468.00. Following the acquisition, the director now owns 7,413 shares of the company’s stock, valued at approximately $542,631.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul T. Powell bought 700 shares of Life Storage stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of $71.57 per share, with a total value of $50,099.00. Following the completion of the acquisition, the insider now directly owns 44,996 shares in the company, valued at approximately $3,220,363.72. The disclosure for this purchase can be found here. Insiders purchased a total of 3,190 shares of company stock valued at $230,042 over the last three months. 1.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in Life Storage by 9.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 124 shares in the last quarter. Advisor Group Inc. grew its holdings in Life Storage by 14.9% during the 2nd quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 387 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Life Storage during the 2nd quarter valued at approximately $222,000. Paragon Capital Management Ltd purchased a new stake in Life Storage during the 2nd quarter valued at approximately $232,000. Finally, Perigon Wealth Management LLC grew its holdings in Life Storage by 34.0% during the 2nd quarter. Perigon Wealth Management LLC now owns 3,150 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 800 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.
Life Storage Company Profile
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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