FBR & Co Downgrades Life Storage, Inc. (LSI) to Sell
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.
TRADEMARK VIOLATION WARNING: This piece was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/09/14/fbr-co-downgrades-life-storage-inc-lsi-to-sell.html.
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.
Receive News & Ratings for Life Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.