Life Storage Inc (NYSE:LSI) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $96.00.
Several research analysts have recently weighed in on LSI shares. Evercore ISI raised shares of Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price objective for the company in a report on Monday, May 20th. Zacks Investment Research cut shares of Life Storage from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, Bank of America set a $105.00 price objective on shares of Life Storage and gave the company a “hold” rating in a report on Friday, March 1st.
In other news, Director Arthur L. Havener, Jr. sold 598 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $95.77, for a total transaction of $57,270.46. Following the completion of the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at $644,340.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Stifel Financial Corp increased its holdings in Life Storage by 5.2% during the fourth quarter. Stifel Financial Corp now owns 2,977 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 146 shares during the last quarter. Cetera Advisor Networks LLC purchased a new stake in Life Storage during the fourth quarter valued at approximately $211,000. Centersquare Investment Management LLC increased its holdings in Life Storage by 1,174.3% during the first quarter. Centersquare Investment Management LLC now owns 2,625 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 2,419 shares during the last quarter. Geode Capital Management LLC increased its holdings in Life Storage by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 629,965 shares of the real estate investment trust’s stock valued at $58,580,000 after buying an additional 42,438 shares during the last quarter. Finally, Oberweis Asset Management Inc. increased its holdings in Life Storage by 9.2% during the fourth quarter. Oberweis Asset Management Inc. now owns 7,120 shares of the real estate investment trust’s stock valued at $662,000 after buying an additional 600 shares during the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.
Life Storage stock traded down $0.19 during trading hours on Monday, hitting $96.86. The stock had a trading volume of 211,800 shares, compared to its average volume of 380,840. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $4.53 billion, a PE ratio of 17.58, a P/E/G ratio of 4.40 and a beta of 0.41. Life Storage has a 12-month low of $88.92 and a 12-month high of $102.91. The stock has a 50-day simple moving average of $96.76.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.58). The firm had revenue of $136.52 million during the quarter, compared to analysts’ expectations of $136.41 million. Life Storage had a return on equity of 10.17% and a net margin of 37.37%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.27 earnings per share. As a group, equities analysts forecast that Life Storage will post 5.59 earnings per share for the current fiscal year.
Life Storage Company Profile
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
See Also: Bear Market – How and Why They Occur
Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.