Life Storage Inc (NYSE:LSI) President Kenneth F. Myszka sold 5,000 shares of Life Storage stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $94.39, for a total value of $471,950.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Life Storage stock opened at $94.32 on Wednesday. The company has a market capitalization of $4.25 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 3.69 and a beta of 0.33. Life Storage Inc has a 12 month low of $76.42 and a 12 month high of $102.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.28 and a quick ratio of 0.28.
Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.88 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.88. The business had revenue of $141.50 million during the quarter, compared to analysts’ expectations of $141.10 million. Life Storage had a return on equity of 6.68% and a net margin of 24.81%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. As a group, equities analysts predict that Life Storage Inc will post 5.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Tuesday, October 16th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, October 15th. Life Storage’s dividend payout ratio (DPR) is presently 75.33%.
Several institutional investors have recently bought and sold shares of LSI. Daiwa Securities Group Inc. increased its position in shares of Life Storage by 22,651.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,456,114 shares of the real estate investment trust’s stock valued at $138,564,000 after buying an additional 1,449,714 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Life Storage by 21.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,425,183 shares of the real estate investment trust’s stock valued at $325,940,000 after buying an additional 608,989 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Life Storage by 6,003.9% in the second quarter. Advisors Asset Management Inc. now owns 444,184 shares of the real estate investment trust’s stock valued at $661,000 after buying an additional 436,907 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Life Storage by 1,718.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 335,509 shares of the real estate investment trust’s stock valued at $31,968,000 after buying an additional 317,057 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of Life Storage in the third quarter valued at approximately $23,982,000. Institutional investors and hedge funds own 96.81% of the company’s stock.
Several research analysts recently weighed in on the company. DA Davidson lifted their price target on Life Storage to $105.00 in a research report on Friday, August 3rd. Citigroup lifted their price target on Life Storage from $83.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, July 12th. BMO Capital Markets reiterated a “hold” rating and set a $87.00 price target on shares of Life Storage in a research report on Wednesday, August 1st. Jefferies Financial Group set a $95.00 price target on Life Storage and gave the company a “hold” rating in a research report on Tuesday, July 17th. Finally, Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $91.50.
Life Storage Company Profile
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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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