Life Storage’s (LSI) Hold Rating Reiterated at Cantor Fitzgerald
Life Storage, Inc. (NYSE:LSI)‘s stock had its “hold” rating restated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Thursday. They presently have a $73.00 target price on the real estate investment trust’s stock. Cantor Fitzgerald’s price target would indicate a potential downside of 8.93% from the company’s current price.
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Evercore ISI reissued an “underperform” rating and issued a $76.00 price target (up previously from $71.00) on shares of Life Storage in a research report on Thursday. TheStreet downgraded 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 issued a $80.00 price target on shares of Life Storage in a research report on Wednesday, June 14th. Finally, UBS AG reissued a “neutral” rating and issued a $75.00 price target (down previously from $80.00) on shares of Life Storage in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Life Storage has a consensus rating of “Hold” and a consensus target price of $77.82.
Shares of Life Storage (NYSE LSI) traded up 0.30% during mid-day trading on Thursday, hitting $80.40. 296,025 shares of the stock were exchanged. The stock’s 50 day moving average price is $74.52 and its 200-day moving average price is $77.70. The stock has a market capitalization of $3.73 billion, a P/E ratio of 70.34 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.02). Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. During the same period in the previous year, the business posted $1.32 EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts expect that Life Storage will post $1.91 EPS for the current fiscal year.
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In related news, Director Arthur L. Havener, Jr. acquired 990 shares of the company’s stock in a transaction on Monday, August 21st. The shares were acquired at an average cost of $73.20 per share, for a total transaction of $72,468.00. Following the purchase, the director now owns 7,413 shares in the company, valued at $542,631.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew J. Gregoire acquired 1,500 shares of the company’s stock in a transaction 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 completion of the purchase, the chief financial officer now owns 48,173 shares in the company, valued at approximately $3,451,595.45. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,190 shares of company stock worth $230,042. Company insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Life Storage by 5,546.9% during the 1st quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock worth $406,317,000 after purchasing an additional 4,860,192 shares during the period. Sei Investments Co. raised its stake in shares of Life Storage by 17.6% during the 1st quarter. Sei Investments Co. now owns 57,920 shares of the real estate investment trust’s stock worth $4,756,000 after purchasing an additional 8,684 shares during the period. Eii Capital Management Inc. raised its stake in shares of Life Storage by 1.4% during the 2nd quarter. Eii Capital Management Inc. now owns 59,500 shares of the real estate investment trust’s stock worth $4,409,000 after purchasing an additional 800 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Life Storage by 19.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,017 shares of the real estate investment trust’s stock worth $2,372,000 after purchasing an additional 5,316 shares during the period. Finally, World Asset Management Inc raised its stake in shares of Life Storage by 10.9% during the 1st quarter. World Asset Management Inc now owns 3,130 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 308 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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