Life Storage, Inc. (NYSE:LSI) had its price objective lowered by equities research analysts at Bank of America Corporation from $82.00 to $76.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Bank of America Corporation’s price target would indicate a potential upside of 2.62% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Citigroup Inc. reaffirmed a “buy” rating and set a $92.00 target price (down previously from $100.00) on shares of Life Storage in a research note on Sunday, May 14th. FBR & Co set a $79.00 target price on shares of Life Storage and gave the stock a “hold” rating in a research note on Thursday, May 4th. TheStreet cut shares of Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 target price on shares of Life Storage in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $90.58.
Shares of Life Storage (NYSE:LSI) traded up 0.15% during trading on Thursday, hitting $74.06. 414,331 shares of the company were exchanged. Life Storage has a 12 month low of $70.07 and a 12 month high of $107.71. The firm has a market capitalization of $3.43 billion, a PE ratio of 43.46 and a beta of 0.57. The firm’s 50-day moving average price is $74.14 and its 200 day moving average price is $80.19.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 EPS for the quarter, missing the consensus estimate of $1.27 by $0.01. The company had revenue of $128.30 million during the quarter, compared to analysts’ expectations of $128.19 million. Life Storage had a return on equity of 3.68% and a net margin of 15.72%. Life Storage’s revenue was up 29.5% on a year-over-year basis. On average, equities research analysts expect that Life Storage will post $2.36 earnings per share for the current fiscal year.
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In related news, insider Paul T. Powell bought 700 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were bought at an average price of $73.04 per share, with a total value of $51,128.00. Following the completion of the transaction, the insider now directly owns 44,296 shares of the company’s stock, valued at approximately $3,235,379.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in shares of Life Storage by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 124 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Life Storage during the first quarter worth about $193,000. Creative Planning raised its stake in shares of Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 60 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Life Storage during the second quarter worth about $222,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Life Storage during the fourth quarter worth about $226,000. 96.26% of the stock is currently owned by institutional investors.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.