Life Storage Inc (LSI) Receives Hold Rating from Jefferies Group LLC
Life Storage Inc (NYSE:LSI)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group LLC in a note issued to investors on Friday. They presently have a $72.00 price target on the real estate investment trust’s stock. Jefferies Group LLC’s price objective would indicate a potential downside of 0.77% from the company’s current price.
LSI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Life Storage from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Wells Fargo & Company restated a “market perform” rating and issued a $78.00 price objective (down from $85.00) on shares of Life Storage in a research note 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 objective for the company. in a research note on Tuesday, May 9th. Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the stock from $77.00 to $71.00 in a research note on Monday, August 7th. Finally, Cantor Fitzgerald lowered Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $80.73.
Shares of Life Storage (NYSE LSI) traded down 1.98% during trading on Friday, reaching $71.12. The company’s stock had a trading volume of 221,847 shares. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 62.22 and a beta of 0.56. Life Storage has a one year low of $69.00 and a one year high of $95.05. The firm’s 50-day moving average price is $72.90 and its 200-day moving average price is $78.74.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by $0.02. The company had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a net margin of 14.63% and a return on equity of 3.76%. Life Storage’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. On average, equities analysts anticipate that Life Storage will post $1.87 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position 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 valued at $116,000 after buying an additional 124 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in shares of Life Storage during the first quarter valued at $193,000. Creative Planning increased its position 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 valued at $198,000 after buying an additional 60 shares in the last quarter. Advisor Group Inc. increased its position in shares of 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 valued at $221,000 after buying an additional 387 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Life Storage during the second quarter valued at $222,000. 96.56% of the stock is owned by 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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