Life Storage, Inc. (NYSE:LSI) saw unusually large options trading activity on Wednesday. Stock traders bought 1,696 call options on the company. This is an increase of Infinity compared to the average daily volume of 0 call options.
Shares of Life Storage (NYSE LSI) opened at $88.62 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.19 and a quick ratio of 0.23. The firm has a market cap of $4,130.00, a PE ratio of 16.78, a price-to-earnings-growth ratio of 3.73 and a beta of 0.59. Life Storage has a 1 year low of $69.00 and a 1 year high of $89.56.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Friday, October 13th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Thursday, October 12th. Life Storage’s payout ratio is presently 199.00%.
Life Storage announced that its board has authorized a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other Life Storage news, Director Arthur L. Havener, Jr. acquired 990 shares of Life Storage stock in a transaction dated 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 $542,631.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul T. Powell acquired 700 shares of Life Storage stock in a transaction dated Monday, August 21st. The shares were acquired 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 have bought a total of 3,190 shares of company stock valued at $230,042 over the last ninety days. 1.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in Life Storage by 28.2% in the 3rd quarter. Wells Fargo & Company MN now owns 61,256 shares of the real estate investment trust’s stock valued at $5,012,000 after acquiring an additional 13,476 shares in the last quarter. JPMorgan Chase & Co. increased its position in Life Storage by 922.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 590,488 shares of the real estate investment trust’s stock valued at $47,699,000 after acquiring an additional 532,721 shares in the last quarter. Legal & General Group Plc increased its position in Life Storage by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 155,616 shares of the real estate investment trust’s stock valued at $12,731,000 after acquiring an additional 13,584 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Life Storage by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,292 shares of the real estate investment trust’s stock valued at $1,824,000 after acquiring an additional 2,015 shares in the last quarter. Finally, Land & Buildings Investment Management LLC acquired a new stake in Life Storage in the 3rd quarter valued at about $67,395,000. Hedge funds and other institutional investors own 99.16% of the company’s stock.
A number of equities analysts have recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of Life Storage from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday. Evercore ISI reaffirmed an “underperform” rating and set a $76.00 price objective (up from $71.00) on shares of Life Storage in a report on Thursday, September 14th. UBS AG reaffirmed a “neutral” rating and set a $75.00 price objective (down from $80.00) on shares of Life Storage in a report on Thursday, August 3rd. BidaskClub raised shares of Life Storage from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Bank of America Corporation reduced their price objective on shares of Life Storage from $82.00 to $76.00 and set a “neutral” rating for the company in a report on Thursday, July 20th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.46.
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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