Shares of Life Storage Inc (NYSE:LSI) have received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $91.55.
A number of brokerages recently issued reports on LSI. 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 report 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 report on Friday, October 5th. Finally, SunTrust Banks reissued a “hold” rating and issued a $95.00 price objective on shares of Life Storage in a report on Monday, September 24th.
In other Life Storage 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 value of $471,950.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arthur L. Havener, Jr. sold 650 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $99.00, for a total transaction of $64,350.00. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Life Storage by 5.1% in the third quarter. Vanguard Group Inc. now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after buying an additional 354,370 shares during the last quarter. Nordea Investment Management AB acquired a new position in Life Storage in the third quarter valued at about $6,826,000. Cohen & Steers Inc. lifted its position in Life Storage by 114.6% in the third quarter. Cohen & Steers Inc. now owns 6,652,513 shares of the real estate investment trust’s stock valued at $633,053,000 after buying an additional 3,552,687 shares during the last quarter. Teachers Advisors LLC lifted its position in Life Storage by 21.2% in the third quarter. Teachers Advisors LLC now owns 76,132 shares of the real estate investment trust’s stock valued at $7,245,000 after buying an additional 13,337 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Life Storage by 44.1% in the third quarter. Neuberger Berman Group LLC now owns 3,406 shares of the real estate investment trust’s stock valued at $324,000 after buying an additional 1,043 shares during the last quarter.
Shares of LSI traded up $4.17 during mid-day trading on Thursday, reaching $101.71. The stock had a trading volume of 456,300 shares, compared to its average volume of 394,035. 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 52-week low of $76.42 and a 52-week high of $102.91. The firm has a market capitalization of $4.55 billion, a P/E ratio of 19.15, a P/E/G ratio of 3.94 and a beta of 0.39.
Life Storage (NYSE:LSI) last announced its quarterly earnings data 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. Life Storage had a net margin of 24.81% and a return on equity of 6.68%. The firm had revenue of $141.50 million during the quarter, compared to analyst estimates of $141.10 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Life Storage’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Life Storage will post 5.49 earnings per share for the current fiscal year.
Life Storage Company Profile
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.
See Also: Quiet Period
Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.