Life Storage, Inc. (LSI) Earns Hold Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their hold rating on shares of Life Storage, Inc. (NYSE:LSI) in a research note issued to investors on Thursday morning. Cantor Fitzgerald currently has a $73.00 price target on the real estate investment trust’s stock.

LSI has been the topic of a number of other research reports. UBS AG reiterated a neutral rating and set a $75.00 target price (down previously from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. Evercore ISI restated an underperform rating and issued a $76.00 price target (up previously from $71.00) on shares of Life Storage in a research note on Thursday. ValuEngine downgraded Life Storage from a buy rating to a hold rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Life Storage from a hold rating to a sell rating in a research note on Wednesday, August 23rd. Finally, Jefferies Group LLC restated a hold rating and issued a $80.00 price target on shares of Life Storage in a research note on Wednesday, June 14th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $77.82.

Life Storage (NYSE LSI) opened at 80.60 on Thursday. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 70.52 and a beta of 0.57. The stock has a 50 day moving average price of $74.76 and a 200-day moving average price of $77.65. Life Storage has a 12-month low of $69.00 and a 12-month 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 for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The firm had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same quarter last year, the company posted $1.32 EPS. The firm’s revenue was up 24.1% on a year-over-year basis. On average, analysts predict that Life Storage will post $1.91 EPS for the current fiscal year.

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In other Life Storage news, CFO Andrew J. Gregoire bought 1,500 shares of the business’s stock in a transaction on Monday, August 21st. The shares were acquired at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the purchase, the chief financial officer now owns 48,173 shares in the company, valued at approximately $3,451,595.45. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul T. Powell bought 700 shares of the business’s stock in a transaction on Monday, August 21st. The shares were acquired at an average price of $71.57 per share, for a total transaction of $50,099.00. Following the completion of the purchase, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,190 shares of company stock worth $230,042. Company insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC boosted its stake in Life Storage by 34.0% during the 2nd quarter. Perigon Wealth Management LLC now owns 3,150 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 800 shares during the last quarter. Brookfield Asset Management Inc. boosted its stake in Life Storage by 12.1% during the 2nd quarter. Brookfield Asset Management Inc. now owns 1,272,882 shares of the real estate investment trust’s stock valued at $94,321,000 after purchasing an additional 137,682 shares during the last quarter. WFG Advisors LP boosted its stake in Life Storage by 31.5% during the 2nd quarter. WFG Advisors LP now owns 10,543 shares of the real estate investment trust’s stock valued at $781,000 after purchasing an additional 2,525 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Life Storage by 0.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 9,770 shares of the real estate investment trust’s stock valued at $724,000 after purchasing an additional 75 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Life Storage by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,914 shares of the real estate investment trust’s stock valued at $1,031,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

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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