Life Storage, Inc. (NYSE:LSI)‘s stock had its “hold” rating restated by investment analysts at SunTrust Banks, Inc. in a report released on Friday. They currently have a $75.00 price target on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price objective suggests a potential downside of 11.79% from the stock’s previous close.

Several other research firms have also recently issued reports on LSI. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Friday. DA Davidson boosted their target price on Life Storage to $85.00 and gave the company a “neutral” rating in a research note on Friday. KeyCorp reissued a “hold” rating on shares of Life Storage in a research note on Thursday, October 12th. BidaskClub raised Life Storage from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Finally, BMO Capital Markets reissued a “sell” rating and set a $73.00 target price on shares of Life Storage in a research note on Thursday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.85.

Life Storage (LSI) opened at $85.02 on Friday. The company has a market cap of $3.91 billion, a PE ratio of 15.88, a P/E/G ratio of 3.52 and a beta of 0.59. The company has a quick ratio of 0.23, a current ratio of 0.19 and a debt-to-equity ratio of 0.85.

Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.02). Life Storage had a net margin of 17.79% and a return on equity of 4.65%. The business had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same period last year, the firm posted $1.32 earnings per share. Life Storage’s quarterly revenue was up 24.1% on a year-over-year basis. analysts anticipate that Life Storage will post 5.31 EPS for the current fiscal year.

Life Storage announced that its board has approved a share repurchase program on Wednesday, August 2nd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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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 cost of $71.57 per share, with a total value of $50,099.00. Following the completion of the purchase, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The purchase was disclosed in a filing with the SEC, which is accessible 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 stock was bought at an average cost of $73.20 per share, for a total transaction of $72,468.00. Following the completion of the purchase, 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 three months, insiders bought 3,190 shares of company stock worth $230,042. 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 the company. BlackRock Inc. grew its stake in shares of Life Storage by 1.0% in 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 during the last quarter. Brookfield Asset Management Inc. lifted its holdings in shares of 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 valued at $94,321,000 after purchasing an additional 137,682 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Life Storage by 373.4% during the second quarter. Macquarie Group Ltd. now owns 709,252 shares of the real estate investment trust’s stock valued at $52,555,000 after purchasing an additional 559,428 shares in the last quarter. APG Asset Management US Inc. lifted its holdings in shares of 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 valued at $54,895,000 after purchasing an additional 57,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Life Storage by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 650,314 shares of the real estate investment trust’s stock valued at $48,189,000 after purchasing an additional 25,003 shares in the last quarter. 96.83% 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.

Analyst Recommendations for Life Storage (NYSE:LSI)

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