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Do investors have a safe investment in Life Storage Inc. (NYSE:LSI)?

January 17, 2023
in Companies

The price of Life Storage Inc. (NYSE:LSI) shares last traded on Wall Street fell -1.81% to $101.57.

Based on available information, 13 analysts follow Life Storage Inc. (NYSE:LSI). The consensus rating among analysts is ‘Overweight’. LSI stock price is now -1.62% away from the 50-day moving average and -12.90% away from the 200-day moving average. The market capitalization of the company currently stands at $8.79B.

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Among analysts, 8 rate the stock a hold while 4 rate it a buy.

With the price target reduced from $123 to $97, Jefferies Downgraded its rating from Buy to Hold for Life Storage Inc. (NYSE: LSI). On October 17, 2022, UBS recently initiated its ‘Neutral’ rating on the stock quoting a target price of $106, while ‘Evercore ISI’ rates the stock as ‘In-line’.

In other news, Saffire Joseph, CEO sold 6,130 shares of the company’s stock on Dec 20. The stock was sold for $611,345 at an average price of $99.73. Upon completion of the transaction, the CEO now directly owns 71,921 shares in the company, valued at $7.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 09, CEO Saffire Joseph sold 5,044 shares of the business’s stock. A total of $661,874 was realized by selling the stock at an average price of $131.22. This leaves the insider owning 61,305 shares of the company worth $6.23 million. Insiders disposed of 29,922 shares of company stock worth roughly $3.04 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in LSI stock. A new stake in Life Storage Inc. shares was purchased by UNIPLAN INVESTMENT COUNSEL, INC. during the first quarter worth $13,259,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $12,273,000 in shares of LSI during the first quarter. In the first quarter, CARLYLE GROUP INC. acquired a new stake in Life Storage Inc. valued at approximately $8,735,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in LSI for approximately $5,756,000. GSI CAPITAL ADVISORS LLC purchased a new stake in LSI valued at around $5,490,000 in the second quarter. In total, there are 608 active investors with 95.10% ownership of the company’s stock.

A candlestick chart of Life Storage Inc. (NYSE: LSI) showed a price of $102.45 on Friday morning. During the past 12 months, Life Storage Inc. has had a low of $94.02 and a high of $151.76. The fifty day moving average price for LSI is $103.07 and a two-hundred day moving average price translates $116.41 for the stock.

The latest earnings results from Life Storage Inc. (NYSE: LSI) was released for Jun, 2022. According to the REIT – Industrial Company, earnings per share came in at $1.09, beating analysts’ expectations of $1 by 0.09. This compares to $0.89 EPS in the same period last year. The net profit margin was 34.40% and return on equity was 9.70% for LSI. The company reported revenue of $272.95 million for the quarter, compared to $208.26 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 31.07 percent. For the current quarter, analysts expect LSI to generate $263.36M in revenue.

Moreover, the firm recently paid out its quarterly dividend on 01/26/2023. Investors who held shares on 01/13/2023 were paid a $1.20 dividend. On an annualized basis, this represents a $4.80 dividend and a 4.73% percent yield. There was an ex-dividend date of 01/12/2023 for this dividend. In terms of dividend payout ratio, LSI is presently at 97.50%.

Life Storage Inc.(LSI) Company Profile

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. Life Storage consistently provides responsive service to approximately 500,000 customers, making it a leader in the industry.

Tags: Life Storage Inc.LSILSI stockNYSE:LSI

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