Life Storage Inc (NYSE:LSI) – Investment analysts at Cantor Fitzgerald lowered their FY2018 earnings estimates for shares of Life Storage in a research note issued on Sunday. Cantor Fitzgerald analyst G. Mehta now forecasts that the real estate investment trust will earn $5.42 per share for the year, down from their previous estimate of $5.45. Cantor Fitzgerald currently has a “Hold” rating and a $84.00 target price on the stock. Cantor Fitzgerald also issued estimates for Life Storage’s FY2019 earnings at $5.57 EPS.
Other analysts have also issued research reports about the stock. KeyCorp reiterated a “hold” rating on shares of Life Storage in a research note on Sunday, November 19th. Wells Fargo & Co set a $91.00 price objective on shares of Life Storage and gave the stock a “hold” rating in a research note on Thursday, November 30th. Jefferies Group set a $86.00 price objective on shares of Life Storage and gave the stock a “hold” rating in a research note on Tuesday, November 28th. SunTrust Banks reiterated a “hold” rating and issued a $80.00 price objective on shares of Life Storage in a research note on Friday, November 24th. Finally, Citigroup restated a “hold” rating and set a $83.00 price target (down previously from $95.00) on shares of Life Storage in a research report on Thursday, March 1st. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $81.29.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.03. The firm had revenue of $133.08 million for the quarter, compared to analyst estimates of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. Solaris Asset Management LLC acquired a new stake in Life Storage during the fourth quarter valued at $112,000. Acadian Asset Management LLC purchased a new position in Life Storage during the fourth quarter valued at $131,000. Wolverine Asset Management LLC purchased a new position in Life Storage during the fourth quarter valued at $185,000. Bbva Compass Bancshares Inc. purchased a new position in Life Storage during the fourth quarter valued at $224,000. Finally, Koch Industries Inc. purchased a new position in Life Storage during the fourth quarter valued at $259,000.
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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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