Life Storage, Inc. (LSI) Receives Average Rating of “Hold” from Brokerages
Shares of Life Storage, Inc. (NYSE:LSI) have received a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $77.62.
LSI has been the subject of a number of research analyst reports. Evercore ISI reiterated an “underperform” rating and issued a $76.00 price target (up from $71.00) on shares of Life Storage in a research note on Thursday, September 14th. BidaskClub upgraded Life Storage from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Zacks Investment Research upgraded Life Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. BMO Capital Markets started coverage on Life Storage in a research note on Monday, September 11th. They issued an “underperform” rating and a $73.00 price objective for the company. Finally, B. Riley restated a “sell” rating on shares of Life Storage in a research note on Wednesday, November 1st.
In related news, Director Arthur L. Havener, Jr. bought 990 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average cost of $73.20 per share, with a total value of $72,468.00. Following the completion of the acquisition, the director now directly owns 7,413 shares in the company, valued at $542,631.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul T. Powell bought 700 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the completion of the acquisition, the insider now owns 44,996 shares of the company’s stock, valued at $3,220,363.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 3,190 shares of company stock worth $230,042. 1.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of LSI. PNC Financial Services Group Inc. grew its holdings in Life Storage by 9.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 124 shares during the period. Advisor Group Inc. grew its holdings in Life Storage by 14.9% in the second quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 387 shares during the period. Fox Run Management L.L.C. acquired a new stake in Life Storage in the second quarter valued at approximately $222,000. Paragon Capital Management Ltd acquired a new stake in Life Storage in the second quarter valued at approximately $232,000. Finally, Perigon Wealth Management LLC grew its holdings in Life Storage by 34.0% in the second quarter. Perigon Wealth Management LLC now owns 3,150 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 800 shares during the period. 96.75% of the stock is currently owned by hedge funds and other institutional investors.
Life Storage (NYSE LSI) traded down $0.99 during trading on Friday, reaching $88.68. The company’s stock had a trading volume of 666,249 shares, compared to its average volume of 620,380. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.19 and a current ratio of 0.19. Life Storage has a 52 week low of $69.00 and a 52 week high of $89.85. The stock has a market capitalization of $4,126.88, a PE ratio of 16.76, a PEG ratio of 3.72 and a beta of 0.59.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Friday, October 13th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.51%. The ex-dividend date was Thursday, October 12th. Life Storage’s dividend payout ratio (DPR) is 199.01%.
Life Storage announced that its board has approved a stock repurchase program on Wednesday, August 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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