Life Storage, Inc. (NYSE:LSI)‘s stock had its “hold” rating reaffirmed by research analysts at SunTrust Banks, Inc. in a research report issued on Friday. They presently have a $75.00 price target on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price objective suggests a potential downside of 11.79% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Citigroup Inc reaffirmed a “buy” rating and set a $85.00 price target (down from $98.00) on shares of Life Storage in a research note on Thursday, August 10th. BidaskClub raised Life Storage from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Friday. Cantor Fitzgerald reaffirmed a “hold” rating and set a $73.00 price target on shares of Life Storage in a research note on Thursday, September 14th. Finally, Jefferies Group LLC set a $72.00 price target on Life Storage and gave the stock a “hold” rating in a research note on Friday, August 18th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $78.85.

Shares of Life Storage (LSI) opened at $85.02 on Friday. The firm has a market capitalization of $3.91 billion, a PE ratio of 15.88, a P/E/G ratio of 3.52 and a beta of 0.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.23 and a current ratio of 0.19.

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 for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.02). Life Storage had a return on equity of 4.65% and a net margin of 17.79%. The firm had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same period last year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. analysts forecast that Life Storage will post 5.31 earnings per share for the current fiscal year.

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in Life Storage by 9.6% in the 1st 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 during the last quarter. Advisor Group Inc. boosted its stake in Life Storage by 14.9% in the 2nd 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. Fox Run Management L.L.C. bought a new position in Life Storage in the 2nd quarter valued at $222,000. Paragon Capital Management Ltd bought a new position in Life Storage in the 2nd quarter valued at $232,000. Finally, Perigon Wealth Management LLC raised its position in Life Storage by 34.0% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,150 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 800 shares during the last quarter. 96.83% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Life Storage (NYSE:LSI)

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