Raymond James upgraded shares of Life Storage (NYSE:LSI) from a market perform rating to an outperform rating in a research report report published on Monday, Benzinga reports. Raymond James currently has $106.00 target price on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.
Several other brokerages have also recently weighed in on LSI. Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a report on Thursday, May 9th. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Finally, Evercore ISI cut shares of Prologis from an outperform rating to an in-line rating and raised their target price for the company from $75.00 to $78.00 in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $99.00.
NYSE:LSI traded down $0.72 during mid-day trading on Monday, hitting $100.16. The stock had a trading volume of 646,466 shares, compared to its average volume of 380,686. The firm’s 50-day simple moving average is $97.33. The company has a market capitalization of $4.68 billion, a P/E ratio of 18.11, a PEG ratio of 4.47 and a beta of 0.37. Life Storage has a twelve month low of $88.92 and a twelve month high of $102.91. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.88.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.58). The firm had revenue of $136.52 million during the quarter, compared to analyst estimates of $136.41 million. Life Storage had a net margin of 37.37% and a return on equity of 10.17%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. As a group, equities analysts anticipate that Life Storage will post 5.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, July 16th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $4.00 annualized dividend and a yield of 3.99%. Life Storage’s dividend payout ratio (DPR) is 72.60%.
In other Life Storage news, Director Arthur L. Havener, Jr. sold 598 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $95.77, for a total transaction of $57,270.46. Following the sale, the director now owns 6,728 shares of the company’s stock, valued at $644,340.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its holdings in Life Storage by 68.8% during the fourth quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 190 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Life Storage by 867.0% during the first quarter. Quadrant Capital Group LLC now owns 938 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 841 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Life Storage during the first quarter worth approximately $98,000. PNC Financial Services Group Inc. grew its position in shares of Life Storage by 8.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,828 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 150 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Life Storage during the first quarter worth approximately $208,000. 95.76% of the stock is currently owned by institutional investors.
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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