Analysts Set Life Storage, Inc. (LSI) Price Target at $80.73

Shares of Life Storage, Inc. (NYSE:LSI) have been given an average recommendation of “Hold” by the sixteen research firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $80.73.

Several research firms have recently issued reports on LSI. Zacks Investment Research upgraded shares of Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, May 24th. TheStreet cut shares of Life Storage from a “b-” rating to a “c+” rating in a research report on Monday, June 19th. ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cantor Fitzgerald cut shares of Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Monday, May 15th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $92.00 target price (down from $100.00) on shares of Life Storage in a report on Sunday, May 14th.

In other news, CFO Andrew J. Gregoire acquired 1,500 shares of the company’s stock in a transaction on Monday, August 21st. The stock was bought at an average cost of $71.65 per share, with a total value of $107,475.00. Following the completion of the purchase, the chief financial officer now directly owns 48,173 shares of the company’s stock, valued at $3,451,595.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul T. Powell acquired 700 shares of the company’s stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $71.57 per share, with a total value of $50,099.00. Following the completion of the purchase, the insider now directly owns 44,996 shares of the company’s stock, valued at $3,220,363.72. The disclosure for this purchase can be found here. Insiders have acquired 3,190 shares of company stock valued at $230,042 over the last ninety days. 1.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LSI. Bank of Montreal Can boosted its stake in Life Storage by 2.3% during the first quarter. Bank of Montreal Can now owns 14,028 shares of the real estate investment trust’s stock worth $1,153,000 after buying an additional 315 shares during the period. Capstone Asset Management Co. boosted its stake in Life Storage by 9.2% during the first quarter. Capstone Asset Management Co. now owns 5,483 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 460 shares during the period. Nisa Investment Advisors LLC boosted its stake in Life Storage by 9.3% during the first quarter. Nisa Investment Advisors LLC now owns 8,525 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 725 shares during the period. ProShare Advisors LLC boosted its stake in Life Storage by 152.3% during the first quarter. ProShare Advisors LLC now owns 42,147 shares of the real estate investment trust’s stock worth $1,357,000 after buying an additional 25,439 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in Life Storage by 1.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,269 shares of the real estate investment trust’s stock worth $1,336,000 after buying an additional 200 shares during the period. 99.62% of the stock is owned by institutional investors.

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Shares of Life Storage (NYSE LSI) traded up 1.03% during midday trading on Tuesday, hitting $82.45. 1,520,065 shares of the stock were exchanged. The company has a market capitalization of $3.84 billion, a P/E ratio of 79.28 and a beta of 0.57. The firm has a 50-day moving average of $73.99 and a 200-day moving average of $77.94. Life Storage has a 1-year low of $69.00 and a 1-year high of $95.05.

Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by $0.02. The company had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 EPS. On average, equities analysts expect that Life Storage will post $1.92 EPS for the current year.

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.

Analyst Recommendations for Life Storage (NYSE:LSI)

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