Life Storage Inc (NYSE:LSI) announced a quarterly dividend on Tuesday, July 2nd, RTT News reports. Investors of record on Tuesday, July 16th will be given a dividend of 1.00 per share by the real estate investment trust on Friday, July 26th. This represents a $4.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Monday, July 15th.
Life Storage has a dividend payout ratio of 73.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Life Storage to earn $5.75 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 69.6%.
LSI opened at $100.59 on Friday. The business’s 50 day simple moving average is $97.45. The firm has a market cap of $4.69 billion, a P/E ratio of 18.19, a PEG ratio of 4.55 and a beta of 0.37. Life Storage has a 1 year low of $88.92 and a 1 year high of $102.91. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.26 and a current ratio of 0.26.
Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). The business had revenue of $136.52 million for the quarter, compared to analyst estimates of $136.41 million. Life Storage had a return on equity of 10.17% and a net margin of 37.37%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.27 EPS. On average, analysts expect that Life Storage will post 5.59 EPS for the current year.
In other Life Storage news, Director Arthur L. Havener, Jr. sold 598 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $95.77, for a total value of $57,270.46. Following the completion of the transaction, the director now owns 6,728 shares in the company, valued at approximately $644,340.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by corporate insiders.
A number of research firms have weighed in on LSI. Evercore ISI cut Prologis from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $75.00 to $78.00 in a report on Monday, May 20th. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Raymond James cut First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $99.00.
About Life Storage
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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