Life Storage (NYSE:LSI) Stock Rating Upgraded by Zacks Investment Research

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Life Storage (NYSE:LSI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm currently has a $112.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.45% from the company’s previous close.

According to Zacks, “Life Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust which acquires and manages self-storage properties. The company’s brand name consists of Life Storage(R) and Uncle Bob’s Self Storage(R). Life Storage, Inc., formerly known as Sovran Self Storage, Inc., is headquartered in Buffalo, New York. “

A number of other equities analysts also recently issued reports on LSI. Evercore ISI downgraded shares of Prologis from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $75.00 to $78.00 in a research note on Monday, May 20th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Life Storage has a consensus rating of “Hold” and a consensus target price of $99.38.

Shares of LSI stock opened at $99.60 on Wednesday. The firm has a fifty day simple moving average of $97.82. The firm has a market cap of $4.68 billion, a P/E ratio of 18.08, a PEG ratio of 4.55 and a beta of 0.37. Life Storage has a fifty-two week low of $88.92 and a fifty-two week high of $102.91. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.26 and a current ratio of 0.26.

Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). Life Storage had a return on equity of 10.17% and a net margin of 37.37%. The company had revenue of $136.52 million during the quarter, compared to the consensus estimate of $136.41 million. During the same period in the previous year, the company earned $1.27 earnings per share. Life Storage’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that Life Storage will post 5.59 EPS for the current fiscal year.

In other Life Storage news, Director Arthur L. Havener, Jr. sold 598 shares of the firm’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 owns 6,728 shares of the company’s stock, valued at $644,340.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in Life Storage by 47.1% in 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. Macquarie Group Ltd. boosted its stake in shares of Life Storage by 1.3% during the 4th quarter. Macquarie Group Ltd. now owns 658,739 shares of the real estate investment trust’s stock worth $61,256,000 after acquiring an additional 8,600 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Life Storage by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 629,965 shares of the real estate investment trust’s stock worth $58,580,000 after acquiring an additional 42,438 shares during the last quarter. Norges Bank purchased a new position in shares of Life Storage during the 4th quarter worth $44,902,000. Finally, WINTON GROUP Ltd boosted its stake in shares of Life Storage by 32.9% during the 2nd quarter. WINTON GROUP Ltd now owns 259,350 shares of the real estate investment trust’s stock worth $24,659,000 after acquiring an additional 64,224 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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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