BMO Capital Markets reiterated their sell rating on shares of Life Storage, Inc. (NYSE:LSI) in a research report released on Monday. BMO Capital Markets currently has a $73.00 price objective on the real estate investment trust’s stock.
Other analysts have also issued reports about the stock. Citigroup Inc. reissued a buy rating and set a $85.00 price target (down from $98.00) on shares of Life Storage in a research report on Thursday, August 10th. TheStreet lowered shares of Life Storage from a b- rating to a c+ rating in a research report on Monday, June 19th. Jefferies Group LLC reissued a hold rating and set a $80.00 price target on shares of Life Storage in a research report on Wednesday, June 14th. Zacks Investment Research raised shares of Life Storage from a sell rating to a hold rating in a research report on Saturday, June 3rd. Finally, ValuEngine lowered shares of Life Storage from a buy rating to a hold rating in a research report on Friday, June 2nd. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $77.82.
Life Storage (LSI) traded down 1.567% during mid-day trading on Monday, reaching $78.815. 117,814 shares of the company’s stock were exchanged. The company’s 50-day moving average is $73.98 and its 200 day moving average is $77.74. Life Storage has a one year low of $69.00 and a one year high of $95.05. The firm has a market capitalization of $3.65 billion, a P/E ratio of 68.955 and a beta of 0.57.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The firm had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 earnings per share. Equities analysts predict that Life Storage will post $1.92 earnings per share for the current fiscal year.
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In other Life Storage news, CFO Andrew J. Gregoire purchased 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average price of $71.65 per share, for a total transaction of $107,475.00. Following the acquisition, the chief financial officer now owns 48,173 shares in the company, valued at $3,451,595.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul T. Powell purchased 700 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $71.57 per share, for a total transaction of $50,099.00. Following the acquisition, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 3,190 shares of company stock worth $230,042. 1.90% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Life Storage by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock worth $599,367,000 after buying an additional 179,513 shares during the period. BlackRock Inc. increased its holdings in Life Storage by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,995,403 shares of the real estate investment trust’s stock worth $370,160,000 after buying an additional 47,591 shares during the period. Goldman Sachs Group Inc. increased its holdings in Life Storage by 28.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock worth $217,386,000 after buying an additional 580,486 shares during the period. State Street Corp increased its holdings in Life Storage by 1.0% in the 1st quarter. State Street Corp now owns 2,045,152 shares of the real estate investment trust’s stock worth $167,946,000 after buying an additional 20,956 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Life Storage by 50.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock worth $120,467,000 after buying an additional 491,689 shares during the period. Institutional investors own 99.62% of the company’s stock.
Life Storage Company Profile
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.
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