Life Storage Inc (NYSE:LSI) Short Interest Update

Life Storage Inc (NYSE:LSI) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,542,500 shares, a drop of 21.5% from the May 30th total of 1,965,000 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average daily trading volume, of 414,800 shares, the days-to-cover ratio is presently 3.7 days.

Shares of Life Storage stock traded up $0.47 on Friday, hitting $100.63. 21,801 shares of the company’s stock traded hands, compared to its average volume of 359,917. The firm has a 50-day moving average price of $97.39. The company has a market cap of $4.68 billion, a PE ratio of 18.24, a PEG ratio of 4.57 and a beta of 0.37. Life Storage has a one year low of $88.92 and a one year high of $102.91. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.88.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Tuesday, July 16th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Monday, July 15th. Life Storage’s dividend payout ratio (DPR) is 72.60%.

In related news, Director Arthur L. Havener, Jr. sold 598 shares of Life Storage 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 sale, the director now directly owns 6,728 shares of the company’s stock, valued at $644,340.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.80% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in LSI. Amalgamated Bank raised its holdings in shares of Life Storage by 1.2% in the 4th quarter. Amalgamated Bank now owns 9,114 shares of the real estate investment trust’s stock valued at $848,000 after purchasing an additional 107 shares during the period. Suntrust Banks Inc. raised its holdings in shares of Life Storage by 0.7% in the 4th quarter. Suntrust Banks Inc. now owns 17,735 shares of the real estate investment trust’s stock valued at $1,649,000 after purchasing an additional 131 shares during the period. Stifel Financial Corp raised its holdings in shares of Life Storage by 5.2% in the 4th quarter. Stifel Financial Corp now owns 2,977 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Life Storage by 8.9% in 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 period. Finally, Eii Capital Management Inc. raised its holdings in shares of Life Storage by 0.8% in the 2nd quarter. Eii Capital Management Inc. now owns 19,702 shares of the real estate investment trust’s stock valued at $1,873,000 after purchasing an additional 162 shares during the period. 95.76% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on LSI shares. Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Evercore ISI downgraded Prologis from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $75.00 to $78.00 in a report on Monday, May 20th. Raymond James downgraded First Midwest Bancorp to a “hold” rating in a report on Monday. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Life Storage currently has an average rating of “Hold” and an average price target of $99.00.

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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