Jefferies Group LLC set a $72.00 price target on Life Storage, Inc. (NYSE:LSI) in a research note published on Friday. The firm currently has a hold rating on the real estate investment trust’s stock. Jefferies Group also issued estimates for Life Storage’s Q3 2017 earnings at $1.33 EPS, Q4 2017 earnings at $1.29 EPS, FY2017 earnings at $5.20 EPS and FY2019 earnings at $5.75 EPS.
Several other analysts have also recently issued reports on LSI. UBS AG restated a neutral rating and set a $75.00 target price (down from $80.00) on shares of Life Storage in a research report on Wednesday, August 9th. Evercore ISI cut shares of Life Storage from an in-line rating to an underperform rating and decreased their target price for the company from $77.00 to $71.00 in a research report on Monday, August 7th. Citigroup Inc. restated a buy rating and set a $85.00 target price (down from $98.00) on shares of Life Storage in a research report on Thursday, August 10th. Wells Fargo & Company restated a market perform rating and set a $78.00 target price (down from $85.00) on shares of Life Storage in a research report on Saturday, July 22nd. Finally, Zacks Investment Research upgraded shares of Life Storage from a sell rating to a hold rating in a research report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Life Storage has an average rating of Hold and a consensus price target of $80.73.
Shares of Life Storage (NYSE:LSI) opened at 71.59 on Friday. The company has a 50 day moving average price of $72.81 and a 200-day moving average price of $78.67. The stock has a market cap of $3.32 billion, a P/E ratio of 62.63 and a beta of 0.56. Life Storage has a 12 month low of $69.00 and a 12 month high of $95.05.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by $0.02. The business had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. On average, equities research analysts predict that Life Storage will post $1.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s dividend payout ratio (DPR) is currently 347.83%.
A number of hedge funds have recently bought and sold shares of the company. Capital Management Corp VA raised its position in shares of Life Storage by 12.3% in the first quarter. Capital Management Corp VA now owns 88,595 shares of the real estate investment trust’s stock worth $7,275,000 after buying an additional 9,711 shares during the period. Sit Investment Associates Inc. raised its position in shares of Life Storage by 240.0% in the first quarter. Sit Investment Associates Inc. now owns 3,400 shares of the real estate investment trust’s stock worth $279,000 after buying an additional 2,400 shares during the period. Mesirow Financial Investment Management Equity Management raised its position in shares of Life Storage by 30.2% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 258,580 shares of the real estate investment trust’s stock worth $21,234,000 after buying an additional 60,020 shares during the period. ProShare Advisors LLC raised its position in shares of Life Storage by 152.3% in the first quarter. ProShare Advisors LLC now owns 42,147 shares of the real estate investment trust’s stock worth $1,357,000 after buying an additional 25,439 shares during the period. Finally, Foster & Motley Inc. raised its position in shares of Life Storage by 13.5% in the first quarter. Foster & Motley Inc. now owns 30,355 shares of the real estate investment trust’s stock worth $2,493,000 after buying an additional 3,620 shares during the period. 96.56% of the stock is currently owned by institutional investors.
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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