Life Storage, Inc. (LSI) Receives Underperform Rating from Evercore ISI
Life Storage, Inc. (NYSE:LSI)‘s stock had its “underperform” rating reissued by research analysts at Evercore ISI in a report released on Thursday. They currently have a $76.00 price target on the real estate investment trust’s stock, up from their previous price target of $71.00. Evercore ISI’s price objective points to a potential downside of 5.19% from the stock’s previous close.
A number of other research firms also recently commented on LSI. BMO Capital Markets began coverage on Life Storage in a research note on Monday. They issued an “underperform” rating and a $73.00 price target for the company. FBR & Co downgraded Life Storage from a “neutral” rating to a “sell” rating and set a $70.00 price target for the company. in a research note on Tuesday. Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, May 24th. TheStreet downgraded Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Finally, ValuEngine downgraded Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Life Storage currently has an average rating of “Hold” and an average target price of $78.27.
Shares of Life Storage (LSI) traded up 1.61% during midday trading on Thursday, reaching $80.16. 584,505 shares of the company’s stock were exchanged. The company’s 50 day moving average is $74.24 and its 200-day moving average is $77.68. The stock has a market cap of $3.72 billion, a PE ratio of 70.13 and a beta of 0.57. Life Storage has a 12 month low of $69.00 and a 12 month high of $95.05.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.02). The company had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the firm earned $1.32 EPS. Equities analysts forecast that Life Storage will post $1.91 EPS for the current fiscal year.
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In other news, insider Paul T. Powell purchased 700 shares of Life Storage stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the completion of the acquisition, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arthur L. Havener, Jr. purchased 990 shares of Life Storage stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $73.20 per share, for a total transaction of $72,468.00. Following the completion of the acquisition, the director now owns 7,413 shares of the company’s stock, valued at approximately $542,631.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,190 shares of company stock worth $230,042. Company insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LSI. PNC Financial Services Group Inc. grew its holdings in shares of Life Storage by 9.6% during 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 purchasing an additional 124 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Life Storage during the first quarter worth about $193,000. Advisor Group Inc. grew its holdings in shares of Life Storage by 14.9% during the second quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 387 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Life Storage during the second quarter worth about $222,000. Finally, Paragon Capital Management Ltd bought a new stake in shares of Life Storage during the second quarter worth about $232,000. Institutional investors own 99.62% 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 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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