Fintel reports that on April 13, 2023, Wolfe Research downgraded their outlook for Life Storage (NYSE:LSI) from Outperform to Peer Perform .
Analyst Price Forecast Suggests 6.43% Downside
As of April 6, 2023, the average one-year price target for Life Storage is $135.25. The forecasts range from a low of $102.01 to a high of $161.70. The average price target represents a decrease of 6.43% from its latest reported closing price of $144.55.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Life Storage is $1,135MM, an increase of 8.36%. The projected annual non-GAAP EPS is $4.64.
Life Storage Declares $1.20 Dividend
On April 3, 2023 the company declared a regular quarterly dividend of $1.20 per share ($4.80 annualized). Shareholders of record as of April 14, 2023 will receive the payment on April 26, 2023. Previously, the company paid $1.08 per share.
At the current share price of $144.55 / share, the stock's dividend yield is 3.32%. Looking back five years and taking a sample every week, the average dividend yield has been 3.76%, the lowest has been 2.30%, and the highest has been 6.08%. The standard deviation of yields is 0.64 (n=236).
The current dividend yield is 0.68 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.68%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
California Public Employees Retirement System holds 191K shares representing 0.23% ownership of the company. In it's prior filing, the firm reported owning 193K shares, representing a decrease of 1.14%. The firm decreased its portfolio allocation in LSI by 18.53% over the last quarter.
King Luther Capital Management holds 11K shares representing 0.01% ownership of the company. No change in the last quarter.
PRF - Invesco FTSE RAFI US 1000 ETF holds 9K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 9K shares, representing a decrease of 1.59%. The firm decreased its portfolio allocation in LSI by 10.41% over the last quarter.
EQAL - Invesco Russell 1000 Equal Weight ETF holds 6K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing a decrease of 12.74%. The firm decreased its portfolio allocation in LSI by 26.61% over the last quarter.
IWS - iShares Russell Mid-Cap Value ETF holds 179K shares representing 0.21% ownership of the company. In it's prior filing, the firm reported owning 177K shares, representing an increase of 1.38%. The firm decreased its portfolio allocation in LSI by 17.74% over the last quarter.
What is the Fund Sentiment?
There are 947 funds or institutions reporting positions in Life Storage.
This is an increase
of
3
owner(s) or 0.32% in the last quarter.
Average portfolio weight of all funds dedicated to LSI is 0.39%,
a decrease
of 7.93%.
Total shares owned by institutions decreased
in the last three months by 0.25% to 90,103K shares.
The put/call ratio of LSI is 1.49, indicating a
bearish
outlook.
Life Storage Background Information
(This description is provided by the company.)
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 31 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.
See all Life Storage regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
