FBR & Co Lowers Life Storage, Inc. (LSI) to Sell

FBR & Co downgraded shares of Life Storage, Inc. (NYSE:LSI) from a neutral rating to a sell rating in a report released on Tuesday, MarketBeat reports. The firm currently has $70.00 target price on the real estate investment trust’s stock. FBR & Co also issued estimates for Life Storage’s Q3 2017 earnings at $1.35 EPS, Q4 2017 earnings at $1.34 EPS, FY2017 earnings at $5.27 EPS, Q1 2018 earnings at $1.32 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $5.39 EPS and FY2019 earnings at $5.25 EPS.

A number of other research analysts also recently issued reports on LSI. UBS AG restated a neutral rating and set a $75.00 target price (down from $80.00) on shares of Life Storage in a research report on Wednesday, August 9th. Evercore ISI downgraded shares of Life Storage from an in-line rating to an underperform rating and decreased their target price for the company from $77.00 to $71.00 in a research report on Monday, August 7th. BMO Capital Markets began coverage on shares of Life Storage in a research report on Monday. They set an underperform rating and a $73.00 target price for the company. Citigroup Inc. restated a buy rating and set a $85.00 target price (down from $98.00) on shares of Life Storage in a research report on Thursday, August 10th. Finally, BidaskClub downgraded shares of Life Storage from a hold rating to a sell rating in a research report on Saturday, September 2nd. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $78.27.

Shares of Life Storage (NYSE LSI) opened at 80.16 on Tuesday. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 70.13 and a beta of 0.57. The stock has a 50 day moving average price of $74.52 and a 200 day moving average price of $77.70. Life Storage has a 1-year low of $69.00 and a 1-year high of $95.05.

Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). The business had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 earnings per share. Equities research analysts anticipate that Life Storage will post $1.91 EPS for the current year.

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In related news, Director Arthur L. Havener, Jr. bought 990 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of $73.20 per share, with a total value of $72,468.00. Following the completion of the purchase, the director now directly owns 7,413 shares of the company’s stock, valued at $542,631.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul T. Powell bought 700 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $71.57 per share, with a total value of $50,099.00. Following 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 bought 3,190 shares of company stock valued at $230,042 in the last three months. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Anchor Capital Advisors LLC increased its stake in shares of Life Storage by 1.5% during the first quarter. Anchor Capital Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 50 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Life Storage by 0.8% during the second quarter. Westwood Holdings Group Inc. now owns 9,770 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 75 shares in the last quarter. Utah Retirement Systems increased its stake in shares of Life Storage by 1.1% during the first quarter. Utah Retirement Systems now owns 9,596 shares of the real estate investment trust’s stock worth $788,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Life Storage by 9.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 124 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Life Storage by 0.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,944 shares of the real estate investment trust’s stock worth $1,309,000 after purchasing an additional 135 shares in the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

About Life Storage

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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