Raymond James upgraded shares of Life Storage (NYSE:LSI) from a market perform rating to an outperform rating in a research note issued to investors on Monday, Benzinga reports. Raymond James currently has $106.00 target price on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research note on Thursday, May 9th. Evercore ISI cut Prologis from an outperform rating to an in-line rating and boosted their price objective for the stock from $75.00 to $78.00 in a research note on Monday, May 20th. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $99.00.

Shares of Life Storage stock opened at $100.16 on Monday. Life Storage has a twelve month low of $88.92 and a twelve month high of $102.91. The firm has a market capitalization of $4.70 billion, a PE ratio of 18.18, a P/E/G ratio of 4.57 and a beta of 0.37. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $97.39.

Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). Life Storage had a net margin of 37.37% and a return on equity of 10.17%. The firm had revenue of $136.52 million during the quarter, compared to analyst estimates of $136.41 million. During the same quarter in the previous year, the business posted $1.27 EPS. Life Storage’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Life Storage will post 5.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Tuesday, July 16th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Monday, July 15th. Life Storage’s dividend payout ratio is presently 72.60%.

In other Life Storage news, Director Arthur L. Havener, Jr. sold 598 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $95.77, for a total transaction of $57,270.46. Following the transaction, the director now owns 6,728 shares in the company, valued at $644,340.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LSI. Advisors Asset Management Inc. increased its position in shares of Life Storage by 62.9% during the 4th quarter. Advisors Asset Management Inc. now owns 15,415 shares of the real estate investment trust’s stock valued at $1,433,000 after purchasing an additional 5,955 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Life Storage by 8.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,828 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 150 shares during the last quarter. Raymond James & Associates increased its holdings in Life Storage by 10.3% in the 4th quarter. Raymond James & Associates now owns 11,905 shares of the real estate investment trust’s stock worth $1,107,000 after acquiring an additional 1,108 shares in the last quarter. Advisor Group Inc. increased its holdings in Life Storage by 68.8% in the 4th quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 190 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings in Life Storage by 15.2% in the 4th quarter. Martingale Asset Management L P now owns 10,604 shares of the real estate investment trust’s stock worth $987,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 95.76% 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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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Analyst Recommendations for Life Storage (NYSE:LSI)

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