Life Storage’s (LSI) “Hold” Rating Reiterated at KeyCorp

KeyCorp restated their hold rating on shares of Life Storage, Inc. (NYSE:LSI) in a research note published on Thursday.

Several other research firms have also recently weighed in on LSI. Zacks Investment Research raised Life Storage from a sell rating to a hold rating in a research report on Wednesday, October 4th. BidaskClub raised Life Storage from a hold rating to a buy rating in a research report on Monday, September 18th. Bank of America Corporation cut Life Storage from a neutral rating to an underperform rating and boosted their price objective for the stock from $73.00 to $77.00 in a research report on Monday, September 25th. Evercore ISI reissued an underperform rating and set a $76.00 price objective (up previously from $71.00) on shares of Life Storage in a research report on Thursday, September 14th. Finally, Cantor Fitzgerald reissued a hold rating and set a $73.00 price objective on shares of Life Storage in a research report on Thursday, September 14th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Life Storage has an average rating of Hold and a consensus price target of $77.91.

Life Storage (NYSE:LSI) traded up 1.25% during midday trading on Thursday, reaching $81.86. The company’s stock had a trading volume of 386,280 shares. The firm has a market capitalization of $3.80 billion, a PE ratio of 71.62 and a beta of 0.59. The stock has a 50 day moving average of $79.78 and a 200 day moving average of $77.05. Life Storage has a 52 week low of $69.00 and a 52 week high of $89.24.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.02). Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. During the same period in the prior year, the firm posted $1.32 EPS. Life Storage’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities research analysts predict that Life Storage will post $1.91 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Life Storage’s (LSI) “Hold” Rating Reiterated at KeyCorp” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/15/life-storages-lsi-hold-rating-reiterated-at-keycorp.html.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Friday, October 13th will be issued a $1.00 dividend. The ex-dividend date is Thursday, October 12th. This represents a $4.00 annualized dividend and a yield of 4.89%. Life Storage’s dividend payout ratio (DPR) is 347.83%.

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

In related news, insider Paul T. Powell bought 700 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $71.57 per share, with a total value of $50,099.00. Following the acquisition, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew J. Gregoire bought 1,500 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was bought at an average cost of $71.65 per share, with a total value of $107,475.00. Following the completion of the acquisition, the chief financial officer now owns 48,173 shares in the company, valued at approximately $3,451,595.45. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 3,190 shares of company stock valued at $230,042. Insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LSI. BlackRock Inc. raised its holdings in shares of Life Storage by 5,546.9% in the 1st quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock worth $406,317,000 after buying an additional 4,860,192 shares in the last quarter. Brookfield Asset Management Inc. raised its holdings in shares of Life Storage by 423.6% in the 1st quarter. Brookfield Asset Management Inc. now owns 1,135,200 shares of the real estate investment trust’s stock worth $93,223,000 after buying an additional 918,400 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Life Storage by 28.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock worth $217,386,000 after buying an additional 580,486 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Life Storage by 373.4% in the 2nd quarter. Macquarie Group Ltd. now owns 709,252 shares of the real estate investment trust’s stock worth $52,555,000 after buying an additional 559,428 shares in the last quarter. Finally, Va

Several other research firms have also recently weighed in on LSI. Zacks Investment Research raised Life Storage from a sell rating to a hold rating in a research report on Wednesday, October 4th. BidaskClub raised Life Storage from a hold rating to a buy rating in a research report on Monday, September 18th. Bank of America Corporation cut Life Storage from a neutral rating to an underperform rating and boosted their price objective for the stock from $73.00 to $77.00 in a research report on Monday, September 25th. Evercore ISI reissued an underperform rating and set a $76.00 price objective (up previously from $71.00) on shares of Life Storage in a research report on Thursday, September 14th. Finally, Cantor Fitzgerald reissued a hold rating and set a $73.00 price objective on shares of Life Storage in a research report on Thursday, September 14th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Life Storage has an average rating of Hold and a consensus price target of $77.91.

Life Storage (NYSE:LSI) traded up 1.25% during midday trading on Thursday, reaching $81.86. The company’s stock had a trading volume of 386,280 shares. The firm has a market capitalization of $3.80 billion, a PE ratio of 71.62 and a beta of 0.59. The stock has a 50 day moving average of $79.78 and a 200 day moving average of $77.05. Life Storage has a 52 week low of $69.00 and a 52 week high of $89.24.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.02). Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. During the same period in the prior year, the firm posted $1.32 EPS. Life Storage’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities research analysts predict that Life Storage will post $1.91 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Life Storage’s (LSI) “Hold” Rating Reiterated at KeyCorp” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/15/life-storages-lsi-hold-rating-reiterated-at-keycorp.html.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Friday, October 13th will be issued a $1.00 dividend. The ex-dividend date is Thursday, October 12th. This represents a $4.00 annualized dividend and a yield of 4.89%. Life Storage’s dividend payout ratio (DPR) is 347.83%.

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

In related news, insider Paul T. Powell bought 700 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $71.57 per share, with a total value of $50,099.00. Following the acquisition, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew J. Gregoire bought 1,500 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was bought at an average cost of $71.65 per share, with a total value of $107,475.00. Following the completion of the acquisition, the chief financial officer now owns 48,173 shares in the company, valued at approximately $3,451,595.45. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 3,190 shares of company stock valued at $230,042. Insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LSI. BlackRock Inc. raised its holdings in shares of Life Storage by 5,546.9% in the 1st quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock worth $406,317,000 after buying an additional 4,860,192 shares in the last quarter. Brookfield Asset Management Inc. raised its holdings in shares of Life Storage by 423.6% in the 1st quarter. Brookfield Asset Management Inc. now owns 1,135,200 shares of the real estate investment trust’s stock worth $93,223,000 after buying an additional 918,400 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Life Storage by 28.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock worth $217,386,000 after buying an additional 580,486 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Life Storage by 373.4% in the 2nd quarter. Macquarie Group Ltd. now owns 709,252 shares of the real estate investment trust’s stock worth $52,555,000 after buying an additional 559,428 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Life Storage by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock worth $599,367,000 after buying an additional 179,513 shares in the last quarter. 96.83% of the stock is owned by institutional investors and hedge funds.

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)

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