Life Storage, Inc. (NYSE:LSI) CFO Andrew J. Gregoire purchased 1,500 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $71.65 per share, for a total transaction of $107,475.00. Following the acquisition, the chief financial officer now owns 48,173 shares in the company, valued at $3,451,595.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Life Storage, Inc. (NYSE:LSI) traded up 2.18% during trading on Monday, hitting $73.15. 588,141 shares of the stock were exchanged. The stock’s 50 day moving average is $72.81 and its 200-day moving average is $78.67. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 64.00 and a beta of 0.56. Life Storage, Inc. has a 12-month low of $69.00 and a 12-month high of $95.05.
Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The firm had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. Life Storage’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. Equities research analysts anticipate that Life Storage, Inc. will post $1.87 EPS 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 issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s dividend payout ratio is currently 347.83%.
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A number of equities analysts have weighed in on the stock. UBS AG reiterated a “neutral” rating and issued a $75.00 price target (down previously from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. FBR & Co set a $79.00 price target on shares of Life Storage and gave the company a “hold” rating in a report on Thursday, May 4th. Bank of America Corporation lowered shares of Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a report on Tuesday, May 9th. ValuEngine lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 price target on shares of Life Storage in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $80.73.
Hedge funds have recently bought and sold shares of the company. WFG Advisors LP increased its stake in Life Storage by 31.5% in the second quarter. WFG Advisors LP now owns 10,543 shares of the real estate investment trust’s stock valued at $781,000 after buying an additional 2,525 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in Life Storage by 0.8% in the second quarter. Westwood Holdings Group Inc. now owns 9,770 shares of the real estate investment trust’s stock valued at $724,000 after buying an additional 75 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Life Storage by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 13,914 shares of the real estate investment trust’s stock valued at $1,031,000 after buying an additional 210 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Life Storage by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 68,554 shares of the real estate investment trust’s stock valued at $5,080,000 after buying an additional 1,241 shares during the last quarter. Finally, Shelton Capital Management bought a new position in Life Storage during the second quarter valued at approximately $255,000. 96.56% of the stock is owned by institutional investors and hedge funds.
About Life Storage
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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