Life Storage, Inc. (LSI) Given a $70.00 Price Target at B. Riley
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.
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.
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.