Life Storage (NYSE:LSI) PT Lowered to $125.00

Life Storage (NYSE:LSIGet Rating) had its price objective lowered by investment analysts at Raymond James from $145.00 to $125.00 in a report issued on Monday, The Fly reports. Raymond James’ price target points to a potential upside of 13.83% from the company’s current price.

Several other research firms also recently issued reports on LSI. BMO Capital Markets downgraded Life Storage from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $150.00 to $130.00 in a report on Thursday. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $147.00 price objective on the stock in a report on Tuesday, March 15th. StockNews.com assumed coverage on shares of Life Storage in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Life Storage from $142.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, April 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Life Storage presently has an average rating of “Buy” and a consensus price target of $147.00.

Shares of LSI opened at $109.81 on Monday. The company has a market capitalization of $9.26 billion, a P/E ratio of 32.20, a PEG ratio of 4.92 and a beta of 0.54. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.62 and a quick ratio of 1.44. Life Storage has a one year low of $96.42 and a one year high of $154.45. The business’s 50 day simple moving average is $133.87 and its 200-day simple moving average is $135.47.

Life Storage (NYSE:LSIGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). Life Storage had a return on equity of 8.71% and a net margin of 32.60%. The firm had revenue of $233.49 million for the quarter, compared to analyst estimates of $230.01 million. During the same period in the prior year, the company posted $1.08 EPS. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Life Storage will post 6.13 EPS for the current fiscal year.

In other news, Director Stephen R. Rusmisel sold 2,500 shares of the stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $135.03, for a total transaction of $337,575.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Saffire sold 9,000 shares of the stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $130.95, for a total transaction of $1,178,550.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock valued at $2,054,285. Company insiders own 0.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC bought a new position in Life Storage in the 4th quarter valued at about $29,000. Allworth Financial LP increased its holdings in shares of Life Storage by 320.0% during the first quarter. Allworth Financial LP now owns 189 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 144 shares during the period. Whittier Trust Co. bought a new position in shares of Life Storage during the first quarter worth approximately $28,000. Meeder Asset Management Inc. bought a new position in shares of Life Storage during the first quarter worth approximately $28,000. Finally, Fifth Third Bancorp increased its stake in Life Storage by 70.8% in the first quarter. Fifth Third Bancorp now owns 222 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.

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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