Life Storage, Inc. (NYSE:LSI)‘s stock had its “hold” rating reaffirmed by KeyCorp in a note issued to investors on Thursday.

A number of other research analysts also recently issued reports on LSI. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price objective on shares of Life Storage in a research note on Wednesday, June 14th. TheStreet downgraded Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Bank of America Corporation dropped their price target on Life Storage from $82.00 to $76.00 and set a “neutral” rating on the stock in a research note on Thursday, July 20th. Wells Fargo & Company reissued 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. Finally, UBS AG reissued a “neutral” rating and issued a $75.00 price objective (down from $80.00) on shares of Life Storage in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.91.

Shares of Life Storage (LSI) traded up 0.55% during mid-day trading on Thursday, hitting $80.85. The stock had a trading volume of 424,622 shares. The stock has a 50 day moving average price of $79.22 and a 200 day moving average price of $77.07. Life Storage has a 52 week low of $69.00 and a 52 week high of $89.24. The firm has a market cap of $3.75 billion, a PE ratio of 70.73 and a beta of 0.59.

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 analysts’ consensus estimates of $1.35 by ($0.02). The firm had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 EPS. Equities research analysts expect that Life Storage will post $1.91 EPS for the current fiscal year.

Life Storage announced that its board has authorized a stock buyback plan on Wednesday, August 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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In other news, CFO Andrew J. Gregoire acquired 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the acquisition, the chief financial officer now directly owns 48,173 shares in the company, valued at $3,451,595.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur L. Havener, Jr. acquired 990 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average price of $73.20 per share, with a total value of $72,468.00. Following the completion of the acquisition, the director now owns 7,413 shares in the company, valued at $542,631.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,190 shares of company stock worth $230,042. Insiders own 1.90% of the company’s stock.

A number of large investors have recently bought and sold shares of LSI. UBS Asset Management Americas Inc. grew its position in Life Storage by 19.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 89,919 shares of the real estate investment trust’s stock worth $7,384,000 after purchasing an additional 14,623 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Life Storage by 48.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 83,716 shares of the real estate investment trust’s stock valued at $6,875,000 after acquiring an additional 27,405 shares during the period. JPMorgan Chase & Co. grew its position in shares of Life Storage by 82.5% during the 1st quarter. JPMorgan Chase & Co. now owns 261,735 shares of the real estate investment trust’s stock valued at $21,494,000 after acquiring an additional 118,356 shares during the period. Prudential Financial Inc. grew its position in shares of Life Storage by 6.5% during the 1st quarter. Prudential Financial Inc. now owns 30,750 shares of the real estate investment trust’s stock valued at $2,525,000 after acquiring an additional 1,870 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Life Storage by 4.2% during the 1st quarter. Neuberger Berman Group LLC now owns 65,273 shares of the real estate investment trust’s stock valued at $5,360,000 after acquiring an additional 2,625 shares during the period. 96.83% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Life Storage (NYSE:LSI)

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