Life Storage, Inc. (NYSE:LSI) insider Paul T. Powell bought 700 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the purchase, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Life Storage, Inc. (LSI) opened at 73.85 on Wednesday. Life Storage, Inc. has a one year low of $69.00 and a one year high of $95.05. The stock has a market cap of $3.42 billion, a P/E ratio of 64.61 and a beta of 0.56. The firm’s 50-day moving average price is $72.78 and its 200 day moving average price is $78.57.
Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The business had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. Equities research analysts expect that Life Storage, Inc. will post $1.92 EPS for the current fiscal year.
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. This represents a $4.00 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s payout ratio is 347.83%.
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Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Life Storage by 2.5% in the first quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock worth $599,367,000 after buying an additional 179,513 shares during the period. BlackRock Inc. boosted its stake in Life Storage by 1.0% in the second quarter. BlackRock Inc. now owns 4,995,403 shares of the real estate investment trust’s stock worth $370,160,000 after buying an additional 47,591 shares during the period. Goldman Sachs Group Inc. boosted its stake in 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 during the period. State Street Corp boosted its stake in Life Storage by 1.0% in the first quarter. State Street Corp now owns 2,045,152 shares of the real estate investment trust’s stock worth $167,946,000 after buying an additional 20,956 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in 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 during the period. Institutional investors own 96.56% of the company’s stock.
Several research firms recently issued reports on LSI. Zacks Investment Research lowered Life Storage from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Group LLC set a $72.00 target price on Life Storage and gave the stock a “hold” rating in a research note on Friday, August 18th. Citigroup Inc. reissued a “buy” rating and set a $85.00 target price (down previously from $98.00) on shares of Life Storage in a research note on Thursday, August 10th. UBS AG reissued a “neutral” rating and set a $75.00 target price (down previously from $80.00) on shares of Life Storage in a research note on Wednesday, August 9th. Finally, Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating and decreased their target price for the stock from $77.00 to $71.00 in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $80.73.
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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