Life Storage’s (LSI) “Hold” Rating Reaffirmed at Cantor Fitzgerald
Cantor Fitzgerald reiterated their hold rating on shares of Life Storage, Inc. (NYSE:LSI) in a report published on Thursday morning. Cantor Fitzgerald currently has a $73.00 price objective on the real estate investment trust’s stock.
Other analysts have also recently issued reports about the company. Citigroup Inc. reaffirmed a buy rating and set a $85.00 price objective (down from $98.00) on shares of Life Storage in a report on Thursday, August 10th. TheStreet cut Life Storage from a b- rating to a c+ rating in a report on Monday, June 19th. Jefferies Group LLC set a $72.00 price objective on Life Storage and gave the stock a hold rating in a report on Friday, August 18th. Zacks Investment Research raised Life Storage from a sell rating to a hold rating in a report on Saturday, June 3rd. Finally, ValuEngine cut Life Storage from a buy rating to a hold rating in a report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $77.82.
Shares of Life Storage (NYSE LSI) traded up 0.15% on Thursday, reaching $80.28. 247,430 shares of the company’s stock were exchanged. The firm has a market cap of $3.72 billion, a PE ratio of 70.24 and a beta of 0.57. Life Storage has a one year low of $69.00 and a one year high of $95.05. The company has a 50 day moving average price of $74.52 and a 200 day moving average price of $77.70.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.02). Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business had revenue of $132.78 million during the quarter, compared to analysts’ expectations of $132.62 million. During the same period in the prior year, the firm posted $1.32 earnings per share. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. Analysts expect that Life Storage will post $1.91 EPS for the current fiscal year.
In related news, insider Paul T. Powell bought 700 shares of the business’s 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 transaction, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arthur L. Havener, Jr. bought 990 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $73.20 per share, for a total transaction of $72,468.00. Following the transaction, the director now owns 7,413 shares in the company, valued at approximately $542,631.60. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,190 shares of company stock worth $230,042. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LSI. PNC Financial Services Group Inc. increased its position in shares of Life Storage by 9.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 124 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of Life Storage during the 1st quarter valued at approximately $193,000. Advisor Group Inc. increased its position in shares of Life Storage by 14.9% during the 2nd quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 387 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Life Storage during the 2nd quarter valued at approximately $222,000. Finally, Paragon Capital Management Ltd bought a new position in shares of Life Storage during the 2nd quarter valued at approximately $232,000. 99.62% of the stock is currently 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.
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