Life Storage, Inc. (NYSE:LSI)‘s stock had its “buy” rating reaffirmed by stock analysts at Citigroup Inc. in a research note issued on Thursday. They presently have a $85.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $98.00. Citigroup Inc.’s price objective would indicate a potential upside of 16.49% from the stock’s current price.

Other equities analysts also recently issued reports about the company. ValuEngine downgraded Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. UBS AG reissued a “neutral” rating and set a $75.00 target price (down from $80.00) on shares of Life Storage in a research note on Wednesday. FBR & Co set a $79.00 target price on Life Storage and gave the stock a “hold” rating in a research note on Thursday, May 4th. TheStreet downgraded Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $80.00 target price on shares of Life Storage in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $85.00.

Shares of Life Storage (NYSE:LSI) opened at 72.97 on Thursday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 63.84 and a beta of 0.56. The firm has a 50-day moving average price of $73.51 and a 200 day moving average price of $79.16. Life Storage has a one year low of $69.00 and a one year high of $95.05.

Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by $0.02. The business had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the company posted $1.32 earnings per share. Equities analysts forecast that Life Storage will post $2.21 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Citigroup Inc. Reiterates “Buy” Rating for Life Storage, Inc. (NYSE:LSI)” was published by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/citigroup-inc-reiterates-buy-rating-for-life-storage-inc-nyselsi/1468249.html.

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Life Storage by 21.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 76,766 shares of the real estate investment trust’s stock worth $5,688,000 after buying an additional 13,453 shares during the period. Swiss National Bank boosted its stake in shares of Life Storage by 1.4% in the second quarter. Swiss National Bank now owns 77,855 shares of the real estate investment trust’s stock worth $5,769,000 after buying an additional 1,100 shares during the period. Eii Capital Management Inc. boosted its stake in shares of Life Storage by 1.4% in the second quarter. Eii Capital Management Inc. now owns 59,500 shares of the real estate investment trust’s stock worth $4,409,000 after buying an additional 800 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Life Storage by 3.9% in the second quarter. Principal Financial Group Inc. now owns 196,965 shares of the real estate investment trust’s stock worth $14,596,000 after buying an additional 7,331 shares during the period. Finally, Keybank National Association OH boosted its stake in shares of Life Storage by 9.5% in the second quarter. Keybank National Association OH now owns 10,994 shares of the real estate investment trust’s stock worth $815,000 after buying an additional 953 shares during the period. 96.44% of the stock is owned by hedge funds and other institutional investors.

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)

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 Analyst Ratings Network's FREE daily email newsletter.