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Shares of Life Storage, Inc. (NYSE: LSI) hit a new 52-week high on Monday after Truist Securities raised its share price target from $ 98.00 to $ 105. Truist Securities currently has a hold rating on the stock. Life Storage traded at $ 108.21 and last traded at $ 107.97, with volume of 5,359 shares traded in the hands. The stock previously closed at $ 105.92.
LSI has been the subject of several other reports. Wells Fargo & Company raised its 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 1. Truist raised its price target on Life Storage from $ 85.00 to $ 88.00 in a research note on Friday, March 5. Evercore ISI upgraded Life Storage from an “online” rating to an “outperforming” rating and raised its stock price target from $ 82.00 to $ 94.00 in a research note on Monday 1st March. Finally, KeyCorp raised its price target on Life Storage from $ 102.00 to $ 112.00 and gave the stock an “overweight” rating in a research note on Friday. Three research analysts rated the stock with a conservation rating and four gave the stock a buy rating. Life Storage currently has a consensus rating of “Buy” and an average price target of $ 95.54.
Meanwhile, CEO Joseph Saffire sold 6,000 shares of the company in a transaction on Wednesday, May 19. The stock was sold for an average price of $ 96.55, for a total trade of $ 579,300.00. Additionally, CFO Andrew J. Gregoire sold 5,000 shares in a deal dated Friday, May 7. The shares were sold for an average price of $ 95.55, for a total value of $ 477,750.00. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 13,301 shares of the company valued at $ 1,277,029. Company insiders own 0.90% of the company’s shares.
Hedge funds recently bought and sold shares in the company. Reby Advisors LLC purchased a new position in Life Storage in the fourth quarter valued at approximately $ 30,000. NEXT Financial Group Inc purchased a new stake in Life Storage in the fourth quarter valued at approximately $ 34,000. Ameritas Investment Company LLC purchased a new stake in Life Storage in the first quarter valued at approximately $ 25,000. Lindbrook Capital LLC increased its position in Life Storage by 54.2% in the first quarter. Lindbrook Capital LLC now owns 367 real estate investment trust shares worth $ 32,000 after purchasing 129 additional shares in the last quarter. Finally, Eaton Vance Management purchased a new stake in Life Storage in the first quarter valued at approximately $ 51,000. 95.39% of the shares are currently held by institutional investors.
The company has a current ratio of 0.31, a quick ratio of 0.31, and a debt ratio of 0.88. The stock has a 50-day moving average price of $ 97.95. The company has a market cap of $ 8.40 billion, a price / earnings ratio of 48.02, a PEG ratio of 6.67 and a beta of 0.33.
Life Storage (NYSE: LSI) last released its results on Tuesday, May 4. The REIT reported earnings per share (EPS) of $ 0.63 for the quarter, missing the consensus estimate of $ 1.01 of ($ 0.38). Life Storage has a return on equity of 7.15% and a net margin of 25.33%. The company posted revenue of $ 171.89 million for the quarter, compared to analysts’ expectations of $ 164.24 million. In the same quarter of the previous year, the company posted EPS of $ 0.52. The company’s revenue for the quarter increased 17.0% from the same quarter last year. As a group, analysts predict that Life Storage, Inc. will post earnings per share of 4.44 for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday April 26. Shareholders of record on Wednesday April 14 received a dividend of $ 0.74 per share. This represents an annualized dividend of $ 2.96 and a return of 2.74%. The ex-dividend date was Tuesday April 13. Life Storage’s dividend payout ratio is currently 74.56%.
Life Storage Company Profile (NYSE: LSI)
Life Storage, Inc is a self-directed, self-directed equity REIT dedicated to the acquisition and management of self-storage facilities. Headquartered in Buffalo, New York, the Company operates more than 900 storage facilities in 30 states and the province of Ontario, Canada. The Company serves residential and commercial storage customers with monthly leased storage units.
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