Life Storage Inc (NYSE:LSI)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $103.45 and last traded at $103.19, with a volume of 9826 shares. The stock had previously closed at $101.94.
Several analysts have recently commented on the company. Evercore ISI raised Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price objective for the company in a research note on Monday, May 20th. Raymond James raised Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 price objective for the company in a research note on Monday, July 8th. They noted that the move was a valuation call. KeyCorp increased their price objective on Life Storage from $106.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $101.86.
The company has a market capitalization of $4.76 billion, a PE ratio of 18.72, a PEG ratio of 4.62 and a beta of 0.37. The firm has a 50 day moving average of $98.48. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.92.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Tuesday, July 16th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Monday, July 15th. Life Storage’s payout ratio is 72.60%.
In related news, Director Arthur L. Havener, Jr. sold 598 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $95.77, for a total transaction of $57,270.46. Following the completion of the sale, the director now directly owns 6,728 shares of the company’s stock, valued at $644,340.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its stake in Life Storage by 13.7% during the second quarter. LPL Financial LLC now owns 50,621 shares of the real estate investment trust’s stock valued at $4,813,000 after buying an additional 6,111 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Life Storage by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 736,887 shares of the real estate investment trust’s stock valued at $70,064,000 after buying an additional 5,188 shares during the period. Panagora Asset Management Inc. boosted its stake in Life Storage by 5.3% during the second quarter. Panagora Asset Management Inc. now owns 3,890 shares of the real estate investment trust’s stock valued at $370,000 after buying an additional 195 shares during the period. Prudential Financial Inc. boosted its stake in Life Storage by 20.3% during the second quarter. Prudential Financial Inc. now owns 70,052 shares of the real estate investment trust’s stock valued at $6,661,000 after buying an additional 11,820 shares during the period. Finally, Schroder Investment Management Group bought a new stake in Life Storage during the second quarter valued at $12,902,000. 98.24% of the stock is owned by institutional investors.
Life Storage Company Profile (NYSE:LSI)
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.
Read More: Leveraged Buyout (LBO)
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