Life Storage (LSI) Downgraded by Citigroup to “Neutral”

Life Storage (NYSE:LSI) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Thursday, MarketBeat reports. They presently have a $95.00 target price on the real estate investment trust’s stock. Citigroup’s price target indicates a potential upside of 5.31% from the company’s previous close.

LSI has been the topic of several other research reports. BMO Capital Markets restated a “sell” rating and issued a $73.00 price objective on shares of Life Storage in a research note on Thursday, November 2nd. Evercore ISI restated an “underperform” rating and issued a $76.00 price objective (up previously from $71.00) on shares of Life Storage in a research note on Thursday, September 14th. Wells Fargo & Company set a $91.00 price objective on Life Storage and gave the company a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research upgraded Life Storage from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Friday, November 3rd. Finally, B. Riley set a $70.00 price objective on Life Storage and gave the company a “sell” rating in a research note on Tuesday, November 14th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $81.79.

Life Storage (NYSE:LSI) traded down $0.86 on Thursday, reaching $90.21. The company had a trading volume of 339,183 shares, compared to its average volume of 486,061. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $4,220.00, a price-to-earnings ratio of 17.22, a PEG ratio of 3.83 and a beta of 0.64. Life Storage has a fifty-two week low of $69.00 and a fifty-two week high of $91.75.

Several institutional investors have recently bought and sold shares of LSI. Janney Montgomery Scott LLC grew its position in shares of Life Storage by 7.3% in the second quarter. Janney Montgomery Scott LLC now owns 6,115 shares of the real estate investment trust’s stock valued at $453,000 after purchasing an additional 416 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Life Storage by 12.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 472,985 shares of the real estate investment trust’s stock valued at $35,049,000 after purchasing an additional 51,394 shares during the last quarter. Arizona State Retirement System grew its position in shares of Life Storage by 1.6% in the second quarter. Arizona State Retirement System now owns 19,600 shares of the real estate investment trust’s stock valued at $1,452,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Life Storage by 12.8% in the second quarter. SG Americas Securities LLC now owns 23,602 shares of the real estate investment trust’s stock valued at $1,749,000 after purchasing an additional 2,687 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Life Storage by 1.9% in the second 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 purchasing an additional 11,699 shares during the last quarter. 96.75% of the stock is currently owned by institutional investors.

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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.