Life Storage (LSI) Upgraded to “Buy” by ValuEngine

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Life Storage (NYSE:LSI) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday.

Other equities research analysts have also issued reports about the company. DA Davidson lifted their target price on Life Storage to $105.00 in a research report on Friday, August 3rd. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research report on Thursday, August 23rd. BMO Capital Markets reaffirmed a “hold” rating and set a $87.00 target price on shares of Life Storage in a research report on Wednesday, August 1st. Jefferies Financial Group set a $95.00 price target on Life Storage and gave the stock a “hold” rating in a research report on Tuesday, July 17th. Finally, SunTrust Banks reissued a “hold” rating and issued a $95.00 price target on shares of Life Storage in a research report on Monday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $91.50.

Shares of NYSE LSI opened at $96.54 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 3.89 and a beta of 0.33. Life Storage has a twelve month low of $76.42 and a twelve month high of $102.91.

Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.88. The business had revenue of $141.50 million during the quarter, compared to analyst estimates of $141.10 million. Life Storage had a return on equity of 6.68% and a net margin of 24.81%. Life Storage’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. Research analysts expect that Life Storage will post 5.48 earnings per share for the current fiscal year.

In other news, President Kenneth F. Myszka sold 5,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $94.39, for a total value of $471,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LSI. Point72 Hong Kong Ltd bought a new position in shares of Life Storage in the 2nd quarter worth $104,000. Steward Partners Investment Advisory LLC increased its position in Life Storage by 333.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 1,000 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Life Storage during the 2nd quarter valued at about $145,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in Life Storage during the 2nd quarter valued at about $206,000. Finally, MML Investors Services LLC acquired a new position in Life Storage during the 3rd quarter valued at about $222,000. 94.25% of the stock is owned by hedge funds and other institutional investors.

About Life Storage

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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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Analyst Recommendations for Life Storage (NYSE:LSI)

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