Life Storage Inc. (NYSE:LSI) declared a quarterly dividend on Tuesday, October 4th. Stockholders of record on Friday, October 14th will be given a dividend of 0.95 per share by the real estate investment trust on Wednesday, October 26th. This represents a $3.80 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Wednesday, October 12th.
Life Storage (NYSE:LSI) traded down 0.9802% on Wednesday, hitting $85.6125. The stock had a trading volume of 760,333 shares. Life Storage has a 52-week low of $84.80 and a 52-week high of $118.18. The company has a 50 day moving average price of $90.46 and a 200-day moving average price of $102.97. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 24.5308 and a beta of 0.78.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.32. Life Storage had a return on equity of 8.95% and a net margin of 33.62%. The firm had revenue of $107.10 million for the quarter, compared to the consensus estimate of $104.90 million. During the same period in the previous year, the business earned $1.24 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts predict that Life Storage will post $5.33 earnings per share for the current year.
Several research analysts recently weighed in on LSI shares. FBR & Co started coverage on Life Storage in a research note on Wednesday, June 22nd. They set a “market perform” rating and a $106.00 target price on the stock. DA Davidson started coverage on Life Storage in a research note on Friday, June 24th. They set a “neutral” rating and a $110.00 target price on the stock. Evercore ISI upgraded Life Storage from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Friday, June 24th. KeyCorp downgraded Life Storage from a “sector weight” rating to an “underweight” rating and set a $84.00 target price on the stock. in a research note on Thursday, August 4th. Finally, Jefferies Group restated a “buy” rating and set a $135.00 target price on shares of Life Storage in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $110.68.
In other Life Storage news, Director Stephen R. Rusmisel purchased 500 shares of Life Storage stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average price of $92.93 per share, with a total value of $46,465.00. Following the acquisition, the director now owns 4,012 shares of the company’s stock, valued at approximately $372,835.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur L. Havener, Jr. purchased 370 shares of Life Storage stock in a transaction that occurred on Friday, August 19th. The stock was acquired at an average cost of $88.97 per share, with a total value of $32,918.90. Following the acquisition, the director now directly owns 1,963 shares in the company, valued at approximately $174,648.11. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
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