Paul T. Powell Acquires 700 Shares of Life Storage, Inc. (LSI) Stock

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.

Insider Buying and Selling by Quarter for Life Storage (NYSE:LSI)

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