Life Storage (NYSE:LSI) PT Raised to $110.00 at Raymond James

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Life Storage (NYSE:LSI) had its target price hoisted by Raymond James from $106.00 to $110.00 in a report released on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts also recently issued reports on LSI. Evercore ISI upgraded shares of Life Storage from an underperform rating to an in-line rating and set a $100.00 price objective on the stock in a report on Monday, May 20th. KeyCorp upped their price objective on shares of Life Storage from $106.00 to $110.00 and gave the company an overweight rating in a report on Monday, August 5th. Zacks Investment Research downgraded shares of Life Storage from a buy rating to a hold rating in a report on Friday, August 16th. Stifel Nicolaus initiated coverage on shares of Life Storage in a report on Monday, August 19th. They set a hold rating and a $106.00 price objective on the stock. Finally, Robert W. Baird upgraded shares of Life Storage from an underperform rating to a neutral rating and upped their price objective for the company from $92.00 to $101.00 in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $103.33.

LSI opened at $104.62 on Tuesday. Life Storage has a 52-week low of $88.92 and a 52-week high of $106.43. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The company has a market cap of $4.90 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 4.87 and a beta of 0.35. The firm’s 50-day moving average price is $103.46 and its 200-day moving average price is $98.43.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.54). Life Storage had a net margin of 37.17% and a return on equity of 10.21%. The company had revenue of $145.00 million for the quarter, compared to analyst estimates of $142.96 million. During the same quarter last year, the company earned $1.39 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Life Storage will post 5.59 EPS for the current fiscal year.

In related news, CFO Andrew J. Gregoire sold 3,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $105.04, for a total value of $315,120.00. Following the completion of the transaction, the chief financial officer now directly owns 52,224 shares of the company’s stock, valued at approximately $5,485,608.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles E. Lannon sold 2,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $103.49, for a total value of $206,980.00. Following the completion of the transaction, the director now directly owns 117,152 shares of the company’s stock, valued at $12,124,060.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,500 shares of company stock worth $679,690. 0.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. PGGM Investments acquired a new stake in shares of Life Storage during the 2nd quarter worth about $227,266,000. Invesco Ltd. lifted its stake in Life Storage by 4.7% during the second quarter. Invesco Ltd. now owns 1,022,029 shares of the real estate investment trust’s stock worth $97,175,000 after purchasing an additional 46,116 shares during the last quarter. Northern Trust Corp lifted its stake in Life Storage by 47.1% during the first quarter. Northern Trust Corp now owns 924,685 shares of the real estate investment trust’s stock worth $89,944,000 after purchasing an additional 296,148 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Life Storage by 232.0% during the second quarter. Nuveen Asset Management LLC now owns 774,147 shares of the real estate investment trust’s stock worth $73,606,000 after purchasing an additional 540,976 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Life Storage by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 736,887 shares of the real estate investment trust’s stock worth $70,064,000 after purchasing an additional 5,188 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

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.

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