Jefferies Group LLC Analysts Give Life Storage Inc (LSI) a $72.00 Price Target
Life Storage Inc (NYSE:LSI) received a $72.00 target price from stock analysts at Jefferies Group LLC in a report released on Friday. The firm presently has a “hold” rating on the real estate investment trust’s stock. Jefferies Group LLC’s target price would suggest a potential downside of 0.77% from the company’s current price.
LSI has been the subject of several other reports. Zacks Investment Research upgraded Life Storage from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Wells Fargo & Company restated a “market perform” rating and set a $78.00 price target (down from $85.00) on shares of Life Storage in a research report on Saturday, July 22nd. Bank of America Corporation lowered Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price target for the company. in a research report on Tuesday, May 9th. Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating and lowered their price target for the stock from $77.00 to $71.00 in a research report on Monday, August 7th. Finally, Cantor Fitzgerald lowered Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $80.73.
Shares of Life Storage (LSI) traded down 2.047% during trading on Friday, hitting $71.075. The stock had a trading volume of 226,297 shares. The firm’s 50-day moving average is $72.90 and its 200 day moving average is $78.74. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 62.183 and a beta of 0.56. Life Storage has a 52-week low of $69.00 and a 52-week high of $95.05.
Life Storage (NYSE:LSI) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by $0.02. The business had revenue of $132.78 million during the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a return on equity of 3.76% and a net margin of 14.63%. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 earnings per share. On average, analysts expect that Life Storage will post $1.87 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in 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 in the last quarter. Perigon Wealth Management LLC bought a new position in Life Storage during the first quarter worth about $193,000. Creative Planning raised its position in 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 in the last quarter. Advisor Group Inc. raised its position in Life Storage by 14.9% in the second quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 387 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Life Storage during the second quarter worth about $222,000. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
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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