Life Storage (NYSE:LSI) issued an update on its FY21 earnings guidance on Monday morning. The company provided EPS guidance of $4.18-4.28 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.25. Life Storage also updated its FY 2021
After-Hours guidance to 4.18-4.28 EPS.
Shares of NYSE:LSI traded up $1.01 during trading hours on Monday, hitting $83.96. 445,922 shares of the company's stock traded hands, compared to its average volume of 683,112. The company's fifty day simple moving average is $82.06 and its two-hundred day simple moving average is $75.80. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 5.27 and a beta of 0.32. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.18. Life Storage has a 52 week low of $44.87 and a 52 week high of $86.74.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 27th. Investors of record on Friday, January 15th were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Thursday, January 14th. Life Storage's dividend payout ratio is presently 52.67%.
LSI has been the subject of several research reports. BMO Capital Markets raised Life Storage from a market perform rating to an outperform rating and raised their price objective for the stock from $81.33 to $93.33 in a research note on Thursday, January 7th. Zacks Investment Research lowered Life Storage from a buy rating to a hold rating in a research report on Thursday. Raymond James lifted their price target on Life Storage from $80.00 to $89.00 and gave the stock an outperform rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. Truist boosted their price objective on Life Storage from $66.67 to $82.00 in a report on Thursday, December 31st. Finally, KeyCorp raised their target price on shares of Life Storage from $81.33 to $85.33 and gave the stock an overweight rating in a report on Thursday, January 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $80.52.
In other news, CFO Andrew J. Gregoire sold 5,000 shares of the stock in a transaction that occurred on Friday, December 11th. The shares were sold at an average price of $114.31, for a total value of $571,550.00. Following the completion of the sale, the chief financial officer now directly owns 59,181 shares of the company's stock, valued at $6,764,980.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company's stock.
Life Storage 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.
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