BMO Capital Markets Downgrades Life Storage (NYSE:LSI) to Market Perform

BMO Capital Markets cut shares of Life Storage (NYSE:LSIGet Rating) from an outperform rating to a market perform rating in a report released on Thursday morning, The Fly reports. They currently have $130.00 target price on the real estate investment trust’s stock, down from their previous target price of $150.00.

LSI has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Life Storage from $142.00 to $154.00 and gave the stock a neutral rating in a research note on Monday, April 4th. StockNews.com began coverage on shares of Life Storage in a research note on Thursday, March 31st. They issued a hold rating for the company. Finally, Zacks Investment Research upgraded shares of Life Storage from a hold rating to a buy rating and set a $147.00 price target for the company in a research note on Tuesday, March 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $149.00.

Shares of LSI stock opened at $109.81 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.44 and a current ratio of 0.62. The stock has a market capitalization of $9.26 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 4.92 and a beta of 0.54. The company has a 50 day moving average price of $133.87 and a 200 day moving average price of $135.45. Life Storage has a fifty-two week low of $96.42 and a fifty-two week high of $154.45.

Life Storage (NYSE:LSIGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The business had revenue of $233.49 million during the quarter, compared to analyst estimates of $230.01 million. Life Storage had a net margin of 32.60% and a return on equity of 8.71%. The company’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. On average, research analysts forecast that Life Storage will post 6.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Thursday, April 14th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $4.00 annualized dividend and a yield of 3.64%. Life Storage’s dividend payout ratio (DPR) is 117.30%.

In other Life Storage news, CEO Joseph Saffire sold 9,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $130.95, for a total value of $1,178,550.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen R. Rusmisel sold 2,500 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $135.03, for a total transaction of $337,575.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $2,054,285. 0.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG increased its stake in Life Storage by 47.3% in the 3rd quarter. UBS Group AG now owns 193,528 shares of the real estate investment trust’s stock valued at $22,205,000 after buying an additional 62,108 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Life Storage by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 155,366 shares of the real estate investment trust’s stock worth $17,827,000 after purchasing an additional 2,785 shares during the period. Caxton Associates LP acquired a new position in shares of Life Storage during the 3rd quarter worth $1,025,000. Man Group plc grew its stake in shares of Life Storage by 118.6% during the 3rd quarter. Man Group plc now owns 151,907 shares of the real estate investment trust’s stock worth $17,430,000 after purchasing an additional 82,401 shares during the period. Finally, Capital Square LLC acquired a new position in shares of Life Storage during the 4th quarter worth $279,000. 91.67% of the stock is currently owned by institutional investors.

About Life Storage (Get Rating)

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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