Life Storage Inc (NYSE:LSI) – Analysts at SunTrust Banks issued their FY2022 EPS estimates for shares of Life Storage in a research note issued on Thursday. SunTrust Banks analyst K. Kim expects that the real estate investment trust will earn $5.79 per share for the year. SunTrust Banks currently has a “Hold” rating and a $80.00 target price on the stock.
LSI has been the subject of a number of other research reports. BMO Capital Markets reissued a “sell” rating and issued a $73.00 target price on shares of Life Storage in a research report on Thursday, November 2nd. Wells Fargo & Co set a $91.00 target price on shares of Life Storage and gave the company a “hold” rating in a research report on Thursday, November 30th. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Friday, November 3rd. B. Riley set a $70.00 target price on shares of Life Storage and gave the company a “sell” rating in a research report on Tuesday, November 14th. Finally, Citigroup cut shares of Life Storage from a “buy” rating to a “neutral” rating and set a $95.00 target price for the company. in a research report on Thursday, December 14th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. Life Storage currently has an average rating of “Hold” and an average target price of $81.79.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Tuesday, January 16th were given a dividend of $1.00 per share. The ex-dividend date was Friday, January 12th. This represents a $4.00 annualized dividend and a yield of 5.07%. Life Storage’s dividend payout ratio is 199.01%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Life Storage by 3.4% during the fourth quarter. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust’s stock worth $460,516,000 after acquiring an additional 170,576 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in Life Storage by 12.1% during the second quarter. Brookfield Asset Management Inc. now owns 1,272,882 shares of the real estate investment trust’s stock worth $94,321,000 after acquiring an additional 137,682 shares in the last quarter. APG Asset Management US Inc. raised its stake 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 in the last quarter. Land & Buildings Investment Management LLC acquired a new position in Life Storage during the third quarter worth about $67,395,000. Finally, Macquarie Group Ltd. raised its stake in Life Storage by 8.8% during the third quarter. Macquarie Group Ltd. now owns 771,796 shares of the real estate investment trust’s stock worth $63,141,000 after acquiring an additional 62,544 shares in the last quarter.
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Life Storage Company Profile
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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