Life Storage Inc. (NYSE:LSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Life Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust which acquires and manages self-storage properties. The company’s brand name consists of Life Storage(R) and Uncle Bob’s Self Storage(R). Life Storage, Inc., formerly known as Sovran Self Storage, Inc., is headquartered in Buffalo, New York. “
A number of other analysts have also issued reports on the stock. Citigroup Inc. upgraded shares of Life Storage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $105.00 in a research note on Friday, September 9th. Raymond James Financial Inc. lowered shares of Life Storage from an “outperform” rating to a “market perform” rating and set a $124.00 price objective on the stock. in a research note on Friday, August 12th. Jefferies Group lowered shares of Life Storage from a “buy” rating to a “hold” rating and dropped their price objective for the company from $135.00 to $100.00 in a research note on Wednesday, August 10th. DA Davidson dropped their price objective on shares of Life Storage from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 8th. Finally, KeyCorp lowered shares of Life Storage from a “sector weight” rating to an “underweight” rating and set a $84.00 price objective on the stock. in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $110.68.
Shares of Life Storage (NYSE:LSI) traded down 0.95% during mid-day trading on Friday, reaching $85.64. 764,848 shares of the company were exchanged. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 24.54 and a beta of 0.78. The company’s 50-day moving average is $90.46 and its 200 day moving average is $102.97. Life Storage has a 12 month low of $84.80 and a 12 month high of $118.18.
Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.32. The company had revenue of $107.10 million for the quarter, compared to analyst estimates of $104.90 million. Life Storage had a net margin of 33.62% and a return on equity of 8.95%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. Analysts predict that Life Storage will post $5.33 EPS for the current year.
In other news, Director Arthur L. Havener, Jr. purchased 370 shares of Life Storage stock in a transaction dated Friday, August 19th. The stock was bought at an average price of $88.97 per share, with a total value of $32,918.90. Following the completion of the acquisition, the director now owns 1,963 shares in the company, valued at approximately $174,648.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen R. Rusmisel purchased 500 shares of Life Storage stock in a transaction dated Monday, August 8th. The shares were purchased at an average cost of $92.93 per share, with a total value of $46,465.00. Following the acquisition, the director now owns 4,012 shares of the company’s stock, valued at approximately $372,835.16. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.
An institutional investor recently bought a new position in Life Storage stock. BNP Paribas Arbitrage SA purchased a new stake in shares of Life Storage Inc. (NYSE:LSI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,312 shares of the real estate investment trust’s stock, valued at approximately $917,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Life Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.