Zacks Investment Research lowered shares of Life Storage, Inc. (NYSE:LSI) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Life Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust which acquires and manages self-storage properties. The company’s brand name consists of Life Storage(R) and Uncle Bob’s Self Storage(R). Life Storage, Inc., formerly known as Sovran Self Storage, Inc., is headquartered in Buffalo, New York. “

LSI has been the subject of a number of other reports. UBS AG reaffirmed a neutral rating and issued a $75.00 price target (down from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. FBR & Co set a $79.00 price objective on Life Storage and gave the company a hold rating in a research note on Thursday, May 4th. Bank of America Corporation cut Life Storage from a buy rating to a neutral rating and set a $82.00 price objective for the company. in a research note on Tuesday, May 9th. ValuEngine cut Life Storage from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a hold rating and issued a $80.00 price objective on shares of Life Storage in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Life Storage presently has a consensus rating of Hold and a consensus target price of $80.73.

Shares of Life Storage (NYSE LSI) traded down 1.83% on Wednesday, reaching $73.48. 284,707 shares of the company’s stock traded hands. The company has a market cap of $3.41 billion, a PE ratio of 64.29 and a beta of 0.56. The stock has a 50-day moving average price of $72.90 and a 200-day moving average price of $78.39. Life Storage has a 12-month low of $69.00 and a 12-month high of $95.05.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. The business had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the company earned $1.32 earnings per share. Equities research analysts anticipate that Life Storage will post $1.92 EPS for the current fiscal year.

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In other Life Storage news, insider Paul T. Powell acquired 700 shares of the business’s stock in a transaction on Monday, August 21st. The stock was purchased at an average price of $71.57 per share, for a total transaction of $50,099.00. Following the completion of the transaction, the insider now owns 44,996 shares of the company’s stock, valued at approximately $3,220,363.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur L. Havener, Jr. acquired 990 shares of the business’s stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $73.20 per share, with a total value of $72,468.00. Following the transaction, the director now directly owns 7,413 shares of the company’s stock, valued at approximately $542,631.60. The disclosure for this purchase can be found here. Insiders acquired 3,190 shares of company stock valued at $230,042 in the last quarter. 1.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Life Storage by 5,546.9% in the first quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock valued at $406,317,000 after buying an additional 4,860,192 shares during the period. Creative Planning raised its stake in Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 60 shares during the period. Sei Investments Co. raised its stake in Life Storage by 17.6% in the first quarter. Sei Investments Co. now owns 57,920 shares of the real estate investment trust’s stock valued at $4,756,000 after buying an additional 8,684 shares during the period. RidgeWorth Capital Management LLC raised its stake in Life Storage by 43.2% in the first quarter. RidgeWorth Capital Management LLC now owns 689,600 shares of the real estate investment trust’s stock valued at $56,630,000 after buying an additional 208,175 shares during the period. Finally, Nationwide Fund Advisors raised its stake in Life Storage by 77.6% in the first quarter. Nationwide Fund Advisors now owns 178,510 shares of the real estate investment trust’s stock valued at $14,659,000 after buying an additional 78,007 shares during the period. Hedge funds and other institutional investors own 96.56% of the company’s stock.

About Life Storage

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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