Life Storage, Inc. (NYSE:LSI) – Stock analysts at SunTrust Banks dropped their Q3 2017 earnings estimates for shares of Life Storage in a note issued to investors on Friday. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings of $1.41 per share for the quarter, down from their prior forecast of $1.42. SunTrust Banks also issued estimates for Life Storage’s Q4 2017 earnings at $1.40 EPS and FY2017 earnings at $5.42 EPS.
A number of other equities analysts have also weighed in on LSI. Zacks Investment Research lowered Life Storage from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. FBR & Co set a $79.00 price target on Life Storage and gave the stock a “hold” rating in a report on Thursday, May 4th. Cantor Fitzgerald cut Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Friday, May 5th. Bank of America Corporation cut Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price objective on the stock. in a research note on Tuesday, May 9th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $92.00 price objective (down previously from $100.00) on shares of Life Storage in a research note on Sunday, May 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Life Storage presently has a consensus rating of “Hold” and an average target price of $89.62.
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Life Storage (LSI) opened at 74.26 on Monday. The company has a market cap of $3.44 billion, a P/E ratio of 43.58 and a beta of 0.57. Life Storage has a 52 week low of $70.07 and a 52 week high of $105.26. The firm has a 50-day moving average price of $74.09 and a 200 day moving average price of $79.93.
Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by $0.01. The business had revenue of $128.30 million during the quarter, compared to the consensus estimate of $128.19 million. Life Storage had a net margin of 15.72% and a return on equity of 3.68%. The business’s revenue was up 29.5% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of LSI. PNC Financial Services Group Inc. increased its stake 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 worth $116,000 after buying an additional 124 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Life Storage during the first quarter worth $193,000. Creative Planning increased its stake 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 worth $198,000 after buying an additional 60 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Life Storage during the second quarter worth $222,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Life Storage during the fourth quarter worth $226,000. Institutional investors and hedge funds own 96.79% of the company’s stock.
In related news, insider Paul T. Powell bought 700 shares of the stock in a transaction dated Tuesday, May 9th. The shares were acquired at an average cost of $73.04 per share, for a total transaction of $51,128.00. Following the acquisition, the insider now directly owns 44,296 shares in the company, valued at approximately $3,235,379.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Thursday, July 13th. Life Storage’s dividend payout ratio is currently 227.27%.
Life Storage Company Profile
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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