Life Storage (NYSE:LSI) Sets New 52-Week High at $108.27

Life Storage Inc (NYSE:LSI) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $108.27 and last traded at $107.79, with a volume of 4451 shares traded. The stock had previously closed at $107.39.

Several brokerages have recently issued reports on LSI. KeyCorp lifted their price objective on shares of Life Storage from $110.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Robert W. Baird raised shares of Life Storage from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $92.00 to $101.00 in a research note on Wednesday, August 21st. Jefferies Financial Group raised shares of Life Storage from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $122.00 in a research note on Friday, October 11th. Raymond James lifted their price objective on shares of Life Storage from $106.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Finally, Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Life Storage currently has a consensus rating of “Hold” and a consensus price target of $109.00.

The firm’s 50-day moving average price is $105.27 and its two-hundred day moving average price is $99.79. The firm has a market capitalization of $5.00 billion, a PE ratio of 19.57, a P/E/G ratio of 4.95 and a beta of 0.33. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.92.

Life Storage (NYSE:LSI) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.54). The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $142.96 million. Life Storage had a return on equity of 10.21% and a net margin of 37.17%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.39 earnings per share. Equities research analysts forecast that Life Storage Inc will post 5.6 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Friday, October 11th. Life Storage’s dividend payout ratio is currently 72.60%.

In related news, COO Edward F. Killeen sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $105.06, for a total transaction of $157,590.00. Following the completion of the sale, the chief operating officer now directly owns 26,998 shares in the company, valued at $2,836,409.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles E. Lannon sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $103.49, for a total transaction of $206,980.00. Following the sale, the director now owns 117,152 shares of the company’s stock, valued at $12,124,060.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,500 shares of company stock valued at $679,690. 0.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in Life Storage in the second quarter valued at approximately $28,000. TRUE Private Wealth Advisors acquired a new stake in Life Storage in the second quarter valued at approximately $85,000. Harvest Fund Management Co. Ltd lifted its stake in Life Storage by 228.0% in the second quarter. Harvest Fund Management Co. Ltd now owns 984 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 684 shares during the last quarter. Assetmark Inc. lifted its stake in Life Storage by 61.9% in the second quarter. Assetmark Inc. now owns 1,627 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 622 shares during the last quarter. Finally, McCollum Christoferson Group LLC acquired a new stake in Life Storage in the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

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.

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