Life Storage, Inc. (LSI) Given Sell Rating at B. Riley
Life Storage, Inc. (NYSE:LSI)‘s stock had its “sell” rating reiterated by stock analysts at B. Riley in a research note issued to investors on Wednesday.
LSI has been the topic of several other research reports. BMO Capital Markets reissued a “sell” rating and set a $73.00 target price on shares of Life Storage in a research report on Thursday. UBS Group AG (USA) reissued a “neutral” rating and set a $75.00 target price (down previously from $80.00) on shares of Life Storage in a research report on Wednesday, August 9th. Evercore ISI reissued an “underperform” rating and set a $76.00 target price (up previously from $71.00) on shares of Life Storage in a research report on Thursday, September 14th. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Friday. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $75.00 target price on shares of Life Storage in a research report on Friday. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.85.
Shares of Life Storage (NYSE LSI) traded up $1.00 during midday trading on Wednesday, reaching $85.02. 565,204 shares of the company traded hands, compared to its average volume of 505,363. Life Storage has a twelve month low of $69.00 and a twelve month high of $89.24. The company has a market cap of $3,960.00, a PE ratio of 15.88, a price-to-earnings-growth 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 earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $132.62 million. During the same period in the prior year, the business earned $1.32 EPS. Life Storage’s quarterly revenue was up 24.1% compared to the same quarter last year. equities analysts predict that Life Storage will post 5.31 EPS for the current fiscal year.
Life Storage announced that its board has approved a share repurchase program on Wednesday, August 2nd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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In other Life Storage news, insider Paul T. Powell acquired 700 shares of Life Storage stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the purchase, the insider now owns 44,996 shares of the company’s stock, valued at $3,220,363.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur L. Havener, Jr. acquired 990 shares of Life Storage stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $73.20 per share, with a total value of $72,468.00. Following the completion of the purchase, the director now directly owns 7,413 shares in the company, valued at approximately $542,631.60. The disclosure for this purchase can be found here. Insiders purchased a total of 3,190 shares of company stock worth $230,042 in the last ninety days. 1.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. grew its stake in Life Storage by 12.1% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,272,882 shares of the real estate investment trust’s stock valued at $94,321,000 after buying an additional 137,682 shares in the last quarter. APG Asset Management US Inc. grew its stake in Life Storage by 9.4% in the 3rd quarter. APG Asset Management US Inc. now owns 671,000 shares of the real estate investment trust’s stock valued at $54,895,000 after buying an additional 57,500 shares in the last quarter. Eii Capital Management Inc. grew its stake in Life Storage by 1.4% in the 2nd quarter. Eii Capital Management Inc. now owns 59,500 shares of the real estate investment trust’s stock valued at $4,409,000 after buying an additional 800 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Life Storage by 11.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 60,085 shares of the real estate investment trust’s stock valued at $4,452,000 after buying an additional 6,042 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Life Storage by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 614,266 shares of the real estate investment trust’s stock valued at $45,518,000 after buying an additional 11,699 shares in the last quarter. Institutional investors and hedge funds own 96.83% 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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