B. Riley Reiterates $70.00 Price Target for Life Storage (LSI)

B. Riley set a $70.00 price objective on Life Storage (NYSE:LSI) in a report published on Monday morning. The brokerage currently has a sell rating on the real estate investment trust’s stock. B. Riley also issued estimates for Life Storage’s Q4 2017 earnings at $1.28 EPS, FY2017 earnings at $5.25 EPS, Q1 2018 earnings at $1.29 EPS, Q2 2018 earnings at $1.38 EPS, Q3 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.25 EPS, FY2018 earnings at $5.38 EPS, Q1 2019 earnings at $1.23 EPS, Q2 2019 earnings at $1.32 EPS and Q3 2019 earnings at $1.42 EPS.

Other equities research analysts have also issued research reports about the stock. Citigroup reiterated a buy rating and set a $85.00 price objective (down previously from $98.00) on shares of Life Storage in a research note on Thursday, August 10th. BidaskClub upgraded shares of Life Storage from a hold rating to a buy rating in a research note on Monday, September 18th. Zacks Investment Research upgraded shares of 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. Jefferies Group set a $72.00 price objective on shares of Life Storage and gave the stock a hold rating in a research note on Friday, August 18th. Finally, Cantor Fitzgerald reiterated a hold rating and set a $73.00 price objective on shares of Life Storage in a research note on Thursday, September 14th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $81.07.

Shares of Life Storage (NYSE:LSI) opened at $89.90 on Monday. The firm has a market cap of $4,194.83, a PE ratio of 17.04, a P/E/G ratio of 3.79 and a beta of 0.64. Life Storage has a 12 month low of $69.00 and a 12 month high of $91.27. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.19 and a current ratio of 0.19.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. increased its stake in shares of Life Storage by 14.9% during the second quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 387 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Life Storage by 34.0% during the second quarter. Perigon Wealth Management LLC now owns 3,150 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 800 shares during the period. M&T Bank Corp increased its stake in shares of Life Storage by 9.4% during the second quarter. M&T Bank Corp now owns 3,246 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 278 shares during the period. Shelton Capital Management acquired a new position in shares of Life Storage during the second quarter valued at approximately $255,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Life Storage by 16.7% during the second quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the real estate investment trust’s stock valued at $311,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 96.75% of the company’s stock.

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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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