Life Storage’s (LSI) “Buy” Rating Reaffirmed at Cantor Fitzgerald
Life Storage Inc (NYSE:LSI)‘s stock had its “buy” rating restated by equities researchers at Cantor Fitzgerald in a research report issued on Monday. They currently have a $95.00 target price on the real estate investment trust’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 11.98% from the company’s current price.
LSI has been the subject of several other reports. Evercore ISI cut Life Storage to a “buy” rating in a report on Friday, March 3rd. TheStreet raised Life Storage from a “c+” rating to a “b-” rating in a report on Wednesday, February 22nd. Robert W. Baird cut Life Storage from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $108.00 to $92.00 in a report on Thursday, January 5th. FBR & Co set a $85.00 price target on Life Storage and gave the stock a “hold” rating in a research report on Thursday, February 16th. Finally, Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a research report on Thursday, December 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $98.36.
Life Storage (NYSE:LSI) remained flat at $84.84 during trading on Monday. 85,179 shares of the stock were exchanged. Life Storage has a 1-year low of $77.00 and a 1-year high of $118.18. The stock has a market capitalization of $3.92 billion, a PE ratio of 43.29 and a beta of 0.54. The firm has a 50-day moving average of $84.63 and a 200 day moving average of $84.87.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, February 15th. The real estate investment trust reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.74. Life Storage had a return on equity of 5.62% and a net margin of 22.63%. On average, equities research analysts expect that Life Storage will post $2.32 EPS for the current year.
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In other news, President Kenneth F. Myszka sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $86.42, for a total value of $432,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark G. Barberio purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was bought at an average cost of $82.97 per share, for a total transaction of $82,970.00. Following the completion of the purchase, the director now directly owns 815 shares of the company’s stock, valued at approximately $67,620.55. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of LSI. PNC Financial Services Group Inc. bought a new position in Life Storage during the third quarter worth $115,000. Daiwa Securities Group Inc. bought a new position in Life Storage during the third quarter worth $151,000. Tower Research Capital LLC TRC bought a new position in Life Storage during the third quarter worth $162,000. Riverhead Capital Management LLC bought a new position in Life Storage during the third quarter worth $187,000. Finally, MSI Financial Services Inc bought a new position in Life Storage during the third quarter worth $200,000. 90.72% 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 investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
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