Life Storage (NYSE:LSI) Rating Lowered to Neutral at Bank of America

Bank of America lowered shares of Life Storage (NYSE:LSIGet Rating) from a buy rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $133.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $141.00.

Several other research firms also recently weighed in on LSI. JPMorgan Chase & Co. raised their target price on shares of Life Storage from $142.00 to $154.00 and gave the company a neutral rating in a report on Monday, April 4th. BMO Capital Markets downgraded shares of Life Storage from an outperform rating to a market perform rating and lowered their price target for the stock from $150.00 to $130.00 in a report on Thursday, May 19th. Raymond James decreased their target price on shares of Life Storage from $145.00 to $125.00 in a research report on Monday, May 23rd. StockNews.com began coverage on shares of Life Storage in a research report on Thursday, March 31st. They set a hold rating on the stock. Finally, KeyCorp reduced their price target on shares of Life Storage from $160.00 to $144.00 and set an overweight rating on the stock in a research report on Thursday, June 16th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $143.20.

Shares of NYSE:LSI opened at $109.66 on Tuesday. The stock has a market cap of $9.25 billion, a P/E ratio of 32.16, a P/E/G ratio of 4.76 and a beta of 0.55. The firm has a fifty day moving average price of $120.28 and a 200 day moving average price of $131.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.62 and a quick ratio of 0.62. Life Storage has a 1-year low of $100.66 and a 1-year high of $154.45.

Life Storage (NYSE:LSIGet Rating) last released its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $233.49 million during the quarter, compared to analyst estimates of $230.01 million. Life Storage had a return on equity of 8.71% and a net margin of 32.60%. The firm’s revenue was up 35.8% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Sell-side analysts expect that Life Storage will post 6.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Thursday, April 14th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $4.00 annualized dividend and a dividend yield of 3.65%. Life Storage’s dividend payout ratio (DPR) is 117.30%.

A number of hedge funds have recently bought and sold shares of LSI. Norges Bank purchased a new stake in Life Storage during the fourth quarter valued at about $208,040,000. BlackRock Inc. raised its position in Life Storage by 8.0% during the fourth quarter. BlackRock Inc. now owns 10,610,769 shares of the real estate investment trust’s stock valued at $1,625,358,000 after acquiring an additional 785,706 shares in the last quarter. State Street Corp raised its position in Life Storage by 13.9% during the first quarter. State Street Corp now owns 4,499,491 shares of the real estate investment trust’s stock valued at $631,864,000 after acquiring an additional 547,484 shares in the last quarter. Centersquare Investment Management LLC raised its position in Life Storage by 18.5% during the first quarter. Centersquare Investment Management LLC now owns 2,478,966 shares of the real estate investment trust’s stock valued at $348,121,000 after acquiring an additional 386,710 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Life Storage by 66.4% during the first quarter. Goldman Sachs Group Inc. now owns 815,960 shares of the real estate investment trust’s stock valued at $114,585,000 after purchasing an additional 325,597 shares during the last quarter. 91.67% of the stock is owned by institutional investors.

Life Storage Company Profile (Get Rating)

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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