Life Storage, Inc. (NYSE:LSI) had its target price lifted by stock analysts at DA Davidson to $85.00 in a note issued to investors on Friday, The Fly reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. DA Davidson’s price objective suggests a potential upside of 1.17% from the company’s current price.

Several other brokerages also recently weighed in on LSI. KeyCorp restated a “hold” rating on shares of Life Storage in a report on Thursday, October 12th. Zacks Investment Research upgraded Life Storage from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub upgraded Life Storage from a “hold” rating to a “buy” rating in a report on Monday, September 18th. BMO Capital Markets restated a “sell” rating and set a $73.00 price target on shares of Life Storage in a report on Thursday. Finally, Bank of America Corporation downgraded Life Storage from a “neutral” rating to an “underperform” rating and raised their price target for the company from $73.00 to $77.00 in a report on Monday, September 25th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $78.50.

Life Storage (NYSE:LSI) last issued its quarterly earnings results 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). Life Storage had a net margin of 17.79% and a return on equity of 4.64%. The company had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. During the same quarter in the previous year, the business earned $1.32 earnings per share. Life Storage’s revenue was up 24.1% compared to the same quarter last year.

Life Storage declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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In other news, insider Paul T. Powell bought 700 shares of the company’s stock in a transaction on Monday, August 21st. The shares were acquired at an average cost of $71.57 per share, with a total value of $50,099.00. Following the completion of the transaction, the insider now owns 44,996 shares of the company’s stock, valued at approximately $3,220,363.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arthur L. Havener, Jr. bought 990 shares of the company’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $73.20 per share, for a total transaction of $72,468.00. Following the completion of the transaction, the director now directly owns 7,413 shares of the company’s stock, valued at approximately $542,631.60. The disclosure for this purchase can be found here. Insiders acquired 3,190 shares of company stock worth $230,042 over the last three months. Insiders own 1.90% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. boosted its position in Life Storage by 0.8% in the second quarter. Westwood Holdings Group Inc. now owns 9,770 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 75 shares during the last quarter. PNC Financial Services Group Inc. boosted 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 purchasing an additional 124 shares during the last quarter. Capstone Asset Management Co. boosted its position in Life Storage by 3.5% in the second quarter. Capstone Asset Management Co. now owns 5,673 shares of the real estate investment trust’s stock worth $420,000 after purchasing an additional 190 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Life Storage by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 13,914 shares of the real estate investment trust’s stock worth $1,031,000 after purchasing an additional 210 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Life Storage by 0.3% in the first quarter. Public Employees Retirement System of Ohio now owns 73,363 shares of the real estate investment trust’s stock worth $6,025,000 after purchasing an additional 222 shares during the last quarter. 96.83% of the stock is currently 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.

The Fly

Analyst Recommendations for Life Storage (NYSE:LSI)

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