Life Storage (LSI) PT Lowered to $91.00

Life Storage (NYSE:LSI) had its target price trimmed by Citigroup from $100.00 to $91.00 in a research note published on Friday. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

LSI has been the subject of several other reports. Zacks Investment Research raised Life Storage from a hold rating to a buy rating and set a $109.00 price objective for the company in a research note on Thursday, July 5th. SunTrust Banks reaffirmed a hold rating and set a $95.00 price objective on shares of Life Storage in a research note on Monday, September 24th. Bank of America upped their price objective on Life Storage from $98.00 to $100.00 and gave the company a neutral rating in a research note on Monday, July 16th. ValuEngine downgraded Life Storage from a buy rating to a hold rating in a research note on Wednesday, June 13th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $87.00 price objective on shares of Life Storage in a research note on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Life Storage has an average rating of Hold and an average target price of $91.50.

LSI opened at $93.80 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.86. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 3.86 and a beta of 0.36. Life Storage has a 52 week low of $76.42 and a 52 week high of $102.91.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.50). The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $135.97 million. Life Storage had a net margin of 24.04% and a return on equity of 6.53%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. On average, equities research analysts expect that Life Storage will post 5.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Tuesday, October 16th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.26%. The ex-dividend date is Monday, October 15th. Life Storage’s payout ratio is 75.33%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LSI. Northern Trust Corp increased its position in Life Storage by 8.4% during the 1st quarter. Northern Trust Corp now owns 674,058 shares of the real estate investment trust’s stock worth $56,297,000 after purchasing an additional 52,018 shares during the period. Great West Life Assurance Co. Can increased its position in Life Storage by 5.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 53,827 shares of the real estate investment trust’s stock worth $4,495,000 after purchasing an additional 2,713 shares during the period. California Public Employees Retirement System increased its position in Life Storage by 5.5% during the 1st quarter. California Public Employees Retirement System now owns 101,192 shares of the real estate investment trust’s stock worth $8,452,000 after purchasing an additional 5,245 shares during the period. Dimensional Fund Advisors LP increased its position in Life Storage by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 710,100 shares of the real estate investment trust’s stock worth $59,308,000 after purchasing an additional 18,403 shares during the period. Finally, GSA Capital Partners LLP increased its position in Life Storage by 73.2% during the 1st quarter. GSA Capital Partners LLP now owns 6,843 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 2,893 shares during the period. Institutional investors own 94.25% of the company’s stock.

About Life Storage

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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.

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Analyst Recommendations for Life Storage (NYSE:LSI)

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