Life Storage Inc (NYSE:LSI) announced a quarterly dividend on Thursday, July 2nd, Zacks reports. Investors of record on Tuesday, July 14th will be paid a dividend of 1.07 per share by the real estate investment trust on Monday, July 27th. This represents a $4.28 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Monday, July 13th.

Life Storage has increased its dividend by an average of 77.8% per year over the last three years and has increased its dividend every year for the last 2 years. Life Storage has a dividend payout ratio of 123.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Life Storage to earn $5.93 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 72.2%.

Shares of LSI stock opened at $96.38 on Friday. The firm has a 50 day moving average of $96.28 and a two-hundred day moving average of $100.73. The stock has a market capitalization of $4.52 billion, a PE ratio of 17.30, a P/E/G ratio of 4.00 and a beta of 0.40. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.97. Life Storage has a 52 week low of $67.31 and a 52 week high of $119.61.

Life Storage (NYSE:LSI) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.62). Life Storage had a net margin of 44.55% and a return on equity of 12.33%. The company had revenue of $146.94 million during the quarter, compared to analyst estimates of $145.73 million. During the same quarter in the previous year, the business posted $1.31 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts expect that Life Storage will post 5.74 EPS for the current fiscal year.

In related news, Director David L. Rogers sold 14,111 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $90.00, for a total value of $1,269,990.00. Following the transaction, the director now owns 104,903 shares in the company, valued at approximately $9,441,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Several equities analysts have recently issued reports on LSI shares. KeyCorp reiterated a “buy” rating and issued a $106.00 price objective on shares of Life Storage in a research note on Wednesday, July 1st. Raymond James downgraded shares of Life Storage from an “outperform” rating to a “market perform” rating in a research note on Sunday, April 19th. Stifel Nicolaus increased their price objective on shares of Life Storage from $96.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Zacks Investment Research downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Wells Fargo & Co decreased their price target on Life Storage from $97.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, June 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Life Storage has an average rating of “Buy” and an average price target of $109.60.

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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Dividend History for Life Storage (NYSE:LSI)

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