Life Storage, Inc. (NYSE:LSI) CFO Sells $477,750.00 in Stock

Life Storage, Inc. (NYSE:LSI) CFO Andrew J. Gregoire sold 5,000 shares of the company’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $95.55, for a total value of $477,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE:LSI opened at $93.77 on Thursday. The business’s fifty day moving average price is $91.45 and its two-hundred day moving average price is $82.79. Life Storage, Inc. has a fifty-two week low of $55.11 and a fifty-two week high of $97.28. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 5.27 and a beta of 0.32. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.18 and a quick ratio of 1.18.

Life Storage (NYSE:LSI) last announced its earnings results on Tuesday, May 4th. The real estate investment trust reported $0.63 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.38). The business had revenue of $171.89 million for the quarter, compared to the consensus estimate of $164.24 million. Life Storage had a return on equity of 7.09% and a net margin of 25.67%. Life Storage’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. Research analysts expect that Life Storage, Inc. will post 5.87 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 26th. Stockholders of record on Wednesday, April 14th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Tuesday, April 13th. Life Storage’s payout ratio is presently 52.67%.

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on Life Storage from $75.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, April 1st. KeyCorp upped their target price on Life Storage from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, February 24th. Truist upped their target price on Life Storage from $85.00 to $88.00 in a research note on Friday, March 5th. Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th. Finally, Raymond James upped their price target on Life Storage from $80.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.50.

Several hedge funds have recently made changes to their positions in LSI. First Trust Advisors LP grew its holdings in shares of Life Storage by 615.6% during the first quarter. First Trust Advisors LP now owns 63,199 shares of the real estate investment trust’s stock worth $6,147,000 after purchasing an additional 54,368 shares during the last quarter. Brinker Capital Investments LLC bought a new position in Life Storage in the third quarter valued at about $518,000. Van ECK Associates Corp boosted its holdings in Life Storage by 23.5% in the third quarter. Van ECK Associates Corp now owns 1,415 shares of the real estate investment trust’s stock valued at $149,000 after acquiring an additional 269 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Life Storage by 1.7% in the fourth quarter. State of Alaska Department of Revenue now owns 21,675 shares of the real estate investment trust’s stock valued at $2,587,000 after acquiring an additional 354 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Life Storage by 3.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock valued at $1,445,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 89.84% of the company’s stock.

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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