Self-storage units operator Life Storage, Inc. (NYSE:LSI) recently announced a quarterly dividend of $1 per share, an increase of about 16.3% from the previous dividend of $0.86.
The dividend will be paid on January 26, 2022, to shareholders of record as of January 14, 2022.
The company’s annual dividend of $4 per share now reflects a dividend yield of 2.7% based on Friday’s closing price.
Management Commentary
The CEO of Life Storage, Joe Saffire, said, “Our team and platforms are well positioned to continue generating strong cash flow to invest in our technology initiatives, operating platforms, properties and people while also returning capital to shareholders by maintaining our payout ratio.”
See Top Smart Score Stocks on TipRanks >>
Analyst Ratings
Recently, Wolfe Research analyst Andrew Rosivach initiated coverage on the stock with a Buy rating and a price target of $186, which implies upside potential of 27% from current levels.
Consensus among analysts is a Strong Buy based on 8 Buys and 1 Hold. The average Life Storage price target of $155.11 implies upside potential of 5.9% from current levels. Shares have gained 90.8% over the past year.
Hedge Funds Confidence
TipRanks’ Hedge Fund Trading Activity tool shows that hedge fund confidence in Camden National is currently Positive. Moreover, the cumulative change in holdings across all six hedge funds that were active in the last quarter was an increase of 90,400 shares.
Download the mobile app now, available on iOS and Android.
Related News:
CNH Industrial Completes Demerger with Iveco Group; Shares Rise
Rexford Buys Eight Industrial Properties for $270M
Southwestern Energy Closes GEP Haynesville Buyout
