Life Storage, Inc. (NYSE:LSI) has been given a $70.00 price objective by stock analysts at B. Riley in a research note issued to investors on Tuesday. The firm currently has a “sell” rating on the real estate investment trust’s stock. B. Riley’s price target would indicate a potential downside of 21.59% from the company’s previous close.

Several other equities research analysts have also recently commented on LSI. Bank of America Corporation lowered their target price on Life Storage from $82.00 to $76.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Wells Fargo & Company reissued a “market perform” rating and issued a $78.00 target price (down from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. UBS AG reissued a “neutral” rating and issued a $75.00 target price (down from $80.00) on shares of Life Storage in a research note on Thursday, August 3rd. Evercore ISI cut Life Storage from an “in-line” rating to an “underperform” rating and lowered their target price for the company from $77.00 to $71.00 in a research note on Monday, August 7th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $85.00 target price (down from $98.00) on shares of Life Storage in a research note on Thursday, August 10th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $78.79.

Shares of Life Storage (NYSE LSI) opened at $89.27 on Tuesday. The company has a market capitalization of $4,152.94, a price-to-earnings ratio of 16.87, a PEG ratio of 3.75 and a beta of 0.59. Life Storage has a 52 week low of $69.00 and a 52 week high of $89.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.19 and a quick ratio of 0.19.

Life Storage declared that its board has authorized a stock buyback program on Wednesday, August 2nd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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In other Life Storage news, CFO Andrew J. Gregoire bought 1,500 shares of Life Storage stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the completion of the acquisition, the chief financial officer now owns 48,173 shares in the company, valued at approximately $3,451,595.45. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arthur L. Havener, Jr. bought 990 shares of Life Storage stock in a transaction on Monday, August 21st. The shares were acquired at an average price of $73.20 per share, for a total transaction of $72,468.00. Following the completion of the acquisition, the director now owns 7,413 shares of the company’s stock, valued at approximately $542,631.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,190 shares of company stock worth $230,042. Corporate insiders own 1.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Life Storage by 1.0% during the second quarter. BlackRock Inc. now owns 4,995,403 shares of the real estate investment trust’s stock worth $370,160,000 after acquiring an additional 47,591 shares in the last quarter. Brookfield Asset Management Inc. lifted its holdings in Life Storage by 12.1% during the second quarter. Brookfield Asset Management Inc. now owns 1,272,882 shares of the real estate investment trust’s stock worth $94,321,000 after acquiring an additional 137,682 shares in the last quarter. Land & Buildings Investment Management LLC bought a new position in Life Storage during the third quarter worth about $67,395,000. Macquarie Group Ltd. lifted its holdings in Life Storage by 8.8% during the third quarter. Macquarie Group Ltd. now owns 771,796 shares of the real estate investment trust’s stock worth $63,141,000 after acquiring an additional 62,544 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its holdings in Life Storage by 9.4% during the third quarter. APG Asset Management US Inc. now owns 671,000 shares of the real estate investment trust’s stock worth $54,895,000 after acquiring an additional 57,500 shares in the last quarter. Hedge funds and other institutional investors own 98.96% 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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