Life Storage, Inc. (NYSE:LSI) was downgraded by equities researchers at FBR & Co from a “neutral” rating to a “sell” rating in a research report issued on Tuesday. They presently have a $70.00 price target on the real estate investment trust’s stock. FBR & Co’s price objective indicates a potential downside of 11.27% from the company’s current price. FBR & Co also issued estimates for Life Storage’s Q3 2017 earnings at $1.35 EPS, Q4 2017 earnings at $1.34 EPS, FY2017 earnings at $5.27 EPS, Q1 2018 earnings at $1.32 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $5.39 EPS and FY2019 earnings at $5.25 EPS.

Several other analysts also recently issued reports on the company. BMO Capital Markets assumed coverage on Life Storage in a report on Monday. They issued an “underperform” rating and a $73.00 price target for the company. BidaskClub downgraded Life Storage from a “hold” rating to a “sell” rating in a report on Saturday, September 2nd. Zacks Investment Research downgraded Life Storage from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group LLC set a $72.00 price target on Life Storage and gave the company a “hold” rating in a report on Friday, August 18th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $85.00 price target (down from $98.00) on shares of Life Storage in a report on Thursday, August 10th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $77.82.

Life Storage (NYSE LSI) opened at 78.89 on Tuesday. Life Storage has a 52-week low of $69.00 and a 52-week high of $95.05. The stock’s 50 day moving average price is $74.24 and its 200 day moving average price is $77.68. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 69.02 and a beta of 0.57.

Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). The firm had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. On average, analysts forecast that Life Storage will post $1.91 EPS for the current year.

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In other news, CFO Andrew J. Gregoire purchased 1,500 shares of the stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the completion of the transaction, the chief financial officer now directly owns 48,173 shares in the company, valued at approximately $3,451,595.45. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul T. Powell purchased 700 shares of the stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $71.57 per share, with a total value of $50,099.00. Following the completion of the transaction, the insider now owns 44,996 shares of the company’s stock, valued at $3,220,363.72. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,190 shares of company stock valued at $230,042. Company insiders own 1.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Life Storage by 2.5% in the first quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock valued at $599,367,000 after purchasing an additional 179,513 shares during the period. BlackRock Inc. boosted its holdings in Life Storage by 1.0% in the second quarter. BlackRock Inc. now owns 4,995,403 shares of the real estate investment trust’s stock valued at $370,160,000 after purchasing an additional 47,591 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Life Storage by 28.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock valued at $217,386,000 after purchasing an additional 580,486 shares during the period. State Street Corp boosted its holdings in Life Storage by 1.0% in the first quarter. State Street Corp now owns 2,045,152 shares of the real estate investment trust’s stock valued at $167,946,000 after purchasing an additional 20,956 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Life Storage by 50.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock valued at $120,467,000 after purchasing an additional 491,689 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Life Storage Company Profile

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.

Analyst Recommendations for Life Storage (NYSE:LSI)

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