According to Zacks, “Life Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust which acquires and manages self-storage properties. The company’s brand name consists of Life Storage(R) and Uncle Bob’s Self Storage(R). Life Storage, Inc., formerly known as Sovran Self Storage, Inc., is headquartered in Buffalo, New York. “
LSI has been the subject of several other research reports. Bank of America downgraded Life Storage from a neutral rating to an underperform rating and lowered their target price for the stock from $105.00 to $99.00 in a research note on Friday, March 8th. ValuEngine downgraded Life Storage from a buy rating to a hold rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has an average rating of Hold and an average price target of $97.86.
LSI stock opened at $96.97 on Friday. The stock has a market capitalization of $4.53 billion, a P/E ratio of 17.60, a P/E/G ratio of 4.38 and a beta of 0.44. Life Storage has a 52 week low of $88.92 and a 52 week high of $102.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.26 and a quick ratio of 0.26.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). The company had revenue of $136.52 million during the quarter, compared to analyst estimates of $136.41 million. Life Storage had a net margin of 37.37% and a return on equity of 10.17%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.27 EPS. On average, sell-side analysts predict that Life Storage will post 5.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, April 15th. Life Storage’s payout ratio is 72.60%.
In other Life Storage news, Director David L. Rogers sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $96.12, for a total transaction of $961,200.00. Following the completion of the transaction, the director now owns 120,000 shares of the company’s stock, valued at $11,534,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Life Storage by 15.6% during the third quarter. AQR Capital Management LLC now owns 13,048 shares of the real estate investment trust’s stock worth $1,242,000 after purchasing an additional 1,757 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Life Storage by 44.1% during the third quarter. Neuberger Berman Group LLC now owns 3,406 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,043 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Life Storage by 21.2% during the third quarter. Teachers Advisors LLC now owns 76,132 shares of the real estate investment trust’s stock worth $7,245,000 after purchasing an additional 13,337 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Life Storage during the third quarter worth about $6,826,000. Finally, Vanguard Group Inc grew its holdings in shares of Life Storage by 5.1% during the third quarter. Vanguard Group Inc now owns 7,276,424 shares of the real estate investment trust’s stock worth $692,424,000 after purchasing an additional 354,370 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.
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 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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