Life Storage (NYSE:LSI) PT Lowered to $132.00

Life Storage (NYSE:LSIGet Rating) had its price target decreased by stock analysts at Truist Financial from $138.00 to $132.00 in a note issued to investors on Wednesday, The Fly reports. Truist Financial’s price target would suggest a potential upside of 13.05% from the stock’s previous close.

LSI has been the topic of a number of other reports. StockNews.com initiated coverage on Life Storage in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price objective on Life Storage from $142.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, April 4th. BMO Capital Markets downgraded Life Storage from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $150.00 to $130.00 in a research report on Thursday, May 19th. Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, Raymond James lowered their price objective on Life Storage from $145.00 to $125.00 in a research report on Monday, May 23rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $146.20.

Shares of LSI stock opened at $116.76 on Wednesday. The business’s 50-day moving average price is $131.24 and its 200-day moving average price is $134.65. Life Storage has a 12 month low of $99.19 and a 12 month high of $154.45. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 5.29 and a beta of 0.54. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.84.

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

In other Life Storage news, Director Stephen R. Rusmisel sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $135.03, for a total value of $337,575.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Saffire sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $134.54, for a total value of $538,160.00. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $2,054,285 in the last three months. Insiders own 0.50% of the company’s stock.

Several large investors have recently made changes to their positions in LSI. Moors & Cabot Inc. purchased a new position in shares of Life Storage during the third quarter valued at approximately $25,000. Allworth Financial LP boosted its position 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 valued at $27,000 after buying an additional 144 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Life Storage during the first quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new position in shares of Life Storage during the first quarter valued at approximately $28,000. Finally, Hexagon Capital Partners LLC purchased a new position in Life Storage in the fourth quarter worth $29,000. 91.67% of the stock is currently 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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