B. Riley set a $70.00 target price on Life Storage (NYSE:LSI) in a research note published on Wednesday morning. The brokerage currently has a sell rating on the real estate investment trust’s stock. B. Riley also issued estimates for Life Storage’s Q2 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.29 EPS, Q2 2019 earnings at $1.31 EPS, Q3 2019 earnings at $1.37 EPS, Q4 2019 earnings at $1.28 EPS and FY2019 earnings at $5.20 EPS.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Life Storage from a hold rating to a buy rating and set a $94.00 price objective on the stock in a research report on Friday, November 3rd. Wells Fargo & Co set a $91.00 price objective on shares of Life Storage and gave the company a hold rating in a research report on Thursday, November 30th. Jefferies Group set a $86.00 price objective on shares of Life Storage and gave the company a hold rating in a research report on Tuesday, November 28th. SunTrust Banks reaffirmed a hold rating and set a $80.00 price objective on shares of Life Storage in a research report on Friday, November 24th. Finally, KeyCorp reissued a hold rating on shares of Life Storage in a research report on Sunday, November 19th. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $82.50.
Life Storage (LSI) opened at $79.90 on Wednesday. The firm has a market cap of $3,668.31, a P/E ratio of 38.60, a P/E/G ratio of 3.13 and a beta of 0.52. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85. Life Storage has a 52-week low of $69.00 and a 52-week high of $91.75.
Life Storage (NYSE:LSI) last issued its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $133.08 million for the quarter, compared to analyst estimates of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 earnings per share. equities analysts expect that Life Storage will post 5.4 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Tuesday, January 16th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Friday, January 12th. Life Storage’s dividend payout ratio is 193.24%.
Several large investors have recently added to or reduced their stakes in LSI. Land & Buildings Investment Management LLC bought a new position in shares of Life Storage in the third quarter valued at approximately $67,395,000. JPMorgan Chase & Co. increased its position in Life Storage by 922.2% during the third quarter. JPMorgan Chase & Co. now owns 590,488 shares of the real estate investment trust’s stock worth $47,699,000 after acquiring an additional 532,721 shares during the period. Barings LLC bought a new position in Life Storage during the third quarter worth $22,872,000. Prudential Financial Inc. increased its position in Life Storage by 840.0% during the third quarter. Prudential Financial Inc. now owns 299,983 shares of the real estate investment trust’s stock worth $24,542,000 after acquiring an additional 268,070 shares during the period. Finally, APG Asset Management US Inc. increased its position in Life Storage by 29.8% during the fourth quarter. APG Asset Management US Inc. now owns 871,000 shares of the real estate investment trust’s stock worth $77,580,000 after acquiring an additional 200,000 shares during the period. 99.60% of the stock is currently owned by 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.
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