Life Storage (NYSE:LSI) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Life Storage (NYSE:LSI – Get Rating) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the stock. Stifel Nicolaus increased their price objective on shares of Life Storage from $140.00 to $145.00 in a research report on Friday, May 12th. Wolfe Research lowered shares of Life Storage from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 12th. Truist Financial raised their price target on shares of Life Storage from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, March 8th. Raymond James raised their price target on shares of Life Storage from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 4th. Finally, KeyCorp raised their price target on shares of Life Storage from $136.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 5th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Life Storage has an average rating of “Hold” and an average target price of $128.89.

Life Storage Stock Performance

Shares of Life Storage stock opened at $130.65 on Friday. The firm has a market capitalization of $11.12 billion, a P/E ratio of 30.31 and a beta of 0.65. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average price of $132.50 and a 200 day moving average price of $117.03. Life Storage has a 52 week low of $94.02 and a 52 week high of $146.66.

Hedge Funds Weigh In On Life Storage

Several institutional investors have recently made changes to their positions in LSI. Norges Bank acquired a new stake in Life Storage in the 4th quarter valued at $295,752,000. Price T Rowe Associates Inc. MD grew its stake in Life Storage by 902.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,300,980 shares of the real estate investment trust’s stock valued at $301,638,000 after acquiring an additional 2,071,426 shares during the period. Franklin Resources Inc. grew its stake in Life Storage by 1,494.0% in the 1st quarter. Franklin Resources Inc. now owns 1,117,891 shares of the real estate investment trust’s stock valued at $146,544,000 after acquiring an additional 1,047,760 shares during the period. PGGM Investments acquired a new stake in Life Storage in the 3rd quarter valued at $104,455,000. Finally, Prudential Financial Inc. grew its stake in Life Storage by 435.4% in the 1st quarter. Prudential Financial Inc. now owns 950,897 shares of the real estate investment trust’s stock valued at $109,867,000 after acquiring an additional 773,299 shares during the period. 89.61% of the stock is owned by hedge funds and other institutional investors.

About Life Storage

(Get Rating)

Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.