Analysts Set Life Storage Inc (LSI) PT at $91.50

Shares of Life Storage Inc (NYSE:LSI) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $91.55.

A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research note on Thursday, August 23rd. Citigroup dropped their price objective on shares of Life Storage from $100.00 to $91.00 and set a “neutral” rating for the company in a research note on Friday, October 5th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $95.00 price objective on shares of Life Storage in a research note on Monday, September 24th.

NYSE:LSI traded up $0.90 on Thursday, reaching $98.85. The stock had a trading volume of 86,493 shares, compared to its average volume of 213,891. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 3.95 and a beta of 0.39. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.87. Life Storage has a 12-month low of $76.42 and a 12-month high of $102.91.

Life Storage (NYSE:LSI) last released its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.88. The company had revenue of $141.50 million for the quarter, compared to analyst estimates of $141.10 million. Life Storage had a net margin of 24.81% and a return on equity of 6.68%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. On average, equities research analysts forecast that Life Storage will post 5.49 earnings per share for the current fiscal year.

In other news, President Kenneth F. Myszka sold 5,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $94.39, for a total transaction of $471,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in Life Storage by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,969 shares of the real estate investment trust’s stock worth $1,749,000 after purchasing an additional 523 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Life Storage by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 29,030 shares of the real estate investment trust’s stock worth $2,762,000 after purchasing an additional 540 shares in the last quarter. Jefferies Group LLC increased its position in Life Storage by 2.3% during the 3rd quarter. Jefferies Group LLC now owns 29,763 shares of the real estate investment trust’s stock worth $2,832,000 after purchasing an additional 656 shares in the last quarter. Hsbc Holdings PLC increased its position in Life Storage by 7.8% during the 3rd quarter. Hsbc Holdings PLC now owns 9,693 shares of the real estate investment trust’s stock worth $922,000 after purchasing an additional 699 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Life Storage by 25.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,679 shares of the real estate investment trust’s stock worth $350,000 after purchasing an additional 750 shares in the last quarter.

About Life Storage

Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.

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Analyst Recommendations for Life Storage (NYSE:LSI)

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