SunTrust Banks Raises Life Storage (LSI) Price Target to $87.00

Life Storage (NYSE:LSI) had its price objective boosted by investment analysts at SunTrust Banks from $80.00 to $87.00 in a research report issued on Friday, April 13th, Marketbeat Ratings reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. SunTrust Banks’ target price points to a potential upside of 1.56% from the stock’s current price.

Several other research firms have also recently issued reports on LSI. UBS cut shares of Life Storage from a “neutral” rating to a “sell” rating and set a $75.00 target price on the stock. in a research note on Friday, December 15th. Citigroup cut shares of Life Storage from a “buy” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a research note on Thursday, December 14th. BMO Capital Markets upgraded shares of Life Storage from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $78.00 to $79.00 in a research note on Friday, March 2nd. Zacks Investment Research upgraded shares of Life Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Finally, Jefferies Group set a $82.00 target price on shares of Life Storage and gave the stock a “hold” rating in a report on Monday, March 5th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $81.79.

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Life Storage stock traded down $0.61 during mid-day trading on Friday, reaching $85.66. 37,686 shares of the company traded hands, compared to its average volume of 439,866. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85. The company has a market cap of $4,054.32, a P/E ratio of 16.25, a PEG ratio of 3.49 and a beta of 0.49. Life Storage has a 52-week low of $69.00 and a 52-week high of $91.75.

Life Storage (NYSE:LSI) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.03. The firm had revenue of $133.08 million for the quarter, compared to the consensus estimate of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. analysts predict that Life Storage will post 5.36 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Life Storage by 3.4% during the fourth quarter. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust’s stock worth $460,516,000 after acquiring an additional 170,576 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Life Storage by 4.1% during the fourth quarter. LPL Financial LLC now owns 51,599 shares of the real estate investment trust’s stock worth $4,596,000 after purchasing an additional 2,042 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Life Storage by 38.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 11,696 shares of the real estate investment trust’s stock worth $956,000 after purchasing an additional 3,269 shares during the period. Pratt Collard Advisory Partners LLC acquired a new stake in shares of Life Storage during the fourth quarter worth about $1,420,000. Finally, Swiss National Bank lifted its holdings in shares of Life Storage by 1.9% during the fourth quarter. Swiss National Bank now owns 79,355 shares of the real estate investment trust’s stock worth $7,068,000 after purchasing an additional 1,500 shares during the period.

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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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.

Analyst Recommendations for Life Storage (NYSE:LSI)

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