B. Riley set a $70.00 price target on Life Storage, Inc. (NYSE:LSI) in a research report report published on Tuesday morning. The firm currently has a sell rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on the company. UBS AG reiterated a neutral rating and set a $75.00 price objective (down previously from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. Evercore ISI cut 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 report on Monday, August 7th. Cantor Fitzgerald lifted their price objective on Life Storage from $73.00 to $81.00 and gave the company a neutral rating in a report on Friday, November 10th. Citigroup Inc. reiterated a buy rating and set a $85.00 price objective (down previously from $98.00) on shares of Life Storage in a report on Thursday, August 10th. Finally, BidaskClub upgraded Life Storage from a buy rating to a strong-buy rating in a report on Tuesday, November 7th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $78.79.

Life Storage (NYSE LSI) traded up $0.03 during trading on Tuesday, hitting $89.27. The stock had a trading volume of 581,200 shares, compared to its average volume of 485,259. The firm has a market cap of $4,152.94, a price-to-earnings ratio of 16.87, a P/E/G ratio of 3.75 and a beta of 0.59. Life Storage has a 52 week low of $69.00 and a 52 week high of $89.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.19 and a quick ratio of 0.19.

TRADEMARK VIOLATION NOTICE: This article was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this article on another site, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://theolympiareport.com/2017/11/15/life-storage-inc-lsi-given-a-70-00-price-target-at-b-riley.html.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Friday, October 13th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Thursday, October 12th. Life Storage’s payout ratio is 199.01%.

Life Storage announced that its board has approved a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

In related news, Director Arthur L. Havener, Jr. purchased 990 shares of the stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $73.20 per share, with a total value of $72,468.00. Following the transaction, the director now directly owns 7,413 shares of the company’s stock, valued at $542,631.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul T. Powell purchased 700 shares of the stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the transaction, the insider now directly owns 44,996 shares in the company, valued at $3,220,363.72. The disclosure for this purchase can be found here. Insiders acquired a total of 3,190 shares of company stock worth $230,042 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Life Storage by 145.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,877 shares of the real estate investment trust’s stock worth $478,000 after purchasing an additional 3,484 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Life Storage by 38.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,696 shares of the real estate investment trust’s stock worth $956,000 after purchasing an additional 3,269 shares during the last quarter. AMP Capital Investors Ltd increased its position in shares of Life Storage by 3.5% during the 3rd quarter. AMP Capital Investors Ltd now owns 17,696 shares of the real estate investment trust’s stock worth $1,448,000 after purchasing an additional 600 shares during the last quarter. NWQ Investment Management Company LLC increased its position in shares of Life Storage by 0.7% during the 3rd quarter. NWQ Investment Management Company LLC now owns 163,840 shares of the real estate investment trust’s stock worth $13,404,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Life Storage by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 668,219 shares of the real estate investment trust’s stock worth $54,665,000 after purchasing an additional 17,905 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Life Storage (NYSE:LSI)

Receive News & Ratings for Life Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.