UBS AG reiterated their neutral rating on shares of Life Storage, Inc. (NYSE:LSI) in a report published on Wednesday, August 9th, www.flashratings.com reports. UBS AG currently has a $75.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $80.00.
LSI has been the topic of several other research reports. Zacks Investment Research raised Life Storage from a sell rating to a hold rating in a research report on Saturday, June 3rd. Wells Fargo & Company reaffirmed a market perform rating and issued a $78.00 price objective (down previously from $85.00) on shares of Life Storage in a research report on Saturday, July 22nd. Bank of America Corporation downgraded Life Storage from a buy rating to a neutral rating and set a $82.00 price objective on the stock. in a research report on Tuesday, May 9th. Evercore ISI downgraded Life Storage from an in-line rating to an underperform rating and cut their price objective for the company from $77.00 to $71.00 in a research report on Monday, August 7th. Finally, Cantor Fitzgerald downgraded Life Storage from an overweight rating to a neutral rating and set a $78.00 price objective on the stock. in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $80.73.
Life Storage (NYSE LSI) opened at 71.59 on Wednesday. The firm’s 50-day moving average is $72.81 and its 200-day moving average is $78.67. The company has a market capitalization of $3.32 billion, a PE 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 released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The company had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 EPS. Equities analysts anticipate that Life Storage will post $1.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend 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%.
Several large investors have recently modified their holdings of LSI. Anchor Capital Advisors LLC boosted its stake in shares of Life Storage by 1.5% in the first quarter. Anchor Capital Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 50 shares during the period. Creative Planning raised its position in shares of Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 60 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of 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 in the last quarter. Utah Retirement Systems raised its position in shares of Life Storage by 1.1% in the first quarter. Utah Retirement Systems now owns 9,596 shares of the real estate investment trust’s stock valued at $788,000 after buying an additional 100 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Life Storage by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 96.56% of the company’s stock.
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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