Life Storage, Inc. (LSI) Earns Underperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets started coverage on shares of Life Storage, Inc. (NYSE:LSI) in a report released on Monday morning. The brokerage issued an underperform rating and a $73.00 price target on the real estate investment trust’s stock.

LSI has been the topic of several other research reports. UBS AG reiterated a neutral rating and set a $75.00 price target (down previously from $80.00) on shares of Life Storage in a research report on Wednesday, August 9th. ValuEngine cut shares of Life Storage from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Life Storage from a hold rating to a sell rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reiterated a hold rating and set a $80.00 price target on shares of Life Storage in a research report on Wednesday, June 14th. Finally, Cantor Fitzgerald cut shares of Life Storage from an overweight rating to a neutral rating and set a $78.00 price target on the stock. in a research report on Monday, May 15th. Five research 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. Life Storage presently has a consensus rating of Hold and an average price target of $78.27.

Life Storage (NYSE:LSI) opened at 80.16 on Monday. The stock’s 50 day moving average is $74.52 and its 200-day moving average is $77.70. The company has a market cap of $3.72 billion, a PE ratio of 70.13 and a beta of 0.57. Life Storage has a 52-week low of $69.00 and a 52-week high of $95.05.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.02). Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The company had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same quarter in the prior year, the firm earned $1.32 EPS. Life Storage’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities research analysts predict that Life Storage will post $1.91 EPS for the current fiscal year.

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In other Life Storage news, insider Paul T. Powell acquired 700 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $71.57 per share, with a total value of $50,099.00. Following the completion of the purchase, the insider now directly owns 44,996 shares of the company’s stock, valued at approximately $3,220,363.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew J. Gregoire acquired 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the purchase, the chief financial officer now directly owns 48,173 shares of the company’s stock, valued at $3,451,595.45. The disclosure for this purchase can be found here. Insiders have purchased 3,190 shares of company stock worth $230,042 in the last three months. 1.90% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Life Storage by 5,546.9% in the first quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock worth $406,317,000 after buying an additional 4,860,192 shares in the last quarter. Brookfield Asset Management Inc. lifted its stake in shares of Life Storage by 423.6% in the first quarter. Brookfield Asset Management Inc. now owns 1,135,200 shares of the real estate investment trust’s stock worth $93,223,000 after buying an additional 918,400 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 worth $217,386,000 after buying an additional 580,486 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Life Storage by 373.4% in the second quarter. Macquarie Group Ltd. now owns 709,252 shares of the real estate investment trust’s stock worth $52,555,000 after buying an additional 559,428 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of 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 worth $120,467,000 after buying an additional 491,689 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

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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