Stock analysts at BMO Capital Markets started coverage on shares of Life Storage, Inc. (NYSE:LSI) in a research note issued to investors on Monday. The brokerage set an “underperform” rating and a $73.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential downside of 8.83% from the stock’s current price.

LSI has been the topic of several other research reports. Zacks Investment Research upgraded shares of Life Storage from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. BidaskClub lowered shares of Life Storage from a “hold” rating to a “sell” rating in a report on Saturday, September 2nd. Wells Fargo & Company restated a “market perform” rating and issued a $78.00 price target (down previously from $85.00) on shares of Life Storage in a report on Saturday, July 22nd. UBS AG restated a “neutral” rating and issued a $75.00 price target (down previously from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. Finally, Evercore ISI lowered shares of Life Storage from an “in-line” rating to an “underperform” rating and cut their price target for the company from $77.00 to $71.00 in a report on Monday, August 7th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $77.82.

Shares of Life Storage (NYSE:LSI) traded down 3.07% during midday trading on Monday, hitting $77.61. 449,292 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $73.98 and its 200 day moving average price is $77.74. Life Storage has a one year low of $69.00 and a one year high of $95.05. The firm has a market cap of $3.60 billion, a PE ratio of 67.90 and a beta of 0.57.

Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same quarter in the previous year, the company earned $1.32 earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. Equities research analysts forecast that Life Storage will post $1.92 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Life Storage, Inc. (LSI) Earns Underperform Rating from Analysts at BMO Capital Markets” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/12/life-storages-lsi-sell-rating-reaffirmed-at-bmo-capital-markets.html.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brookfield Asset Management Inc. raised its stake 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. WFG Advisors LP raised its stake in shares of Life Storage by 31.5% during the second quarter. WFG Advisors LP now owns 10,543 shares of the real estate investment trust’s stock valued at $781,000 after purchasing an additional 2,525 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Life Storage by 0.8% during the second quarter. Westwood Holdings Group Inc. now owns 9,770 shares of the real estate investment trust’s stock valued at $724,000 after purchasing an additional 75 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Life Storage by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 13,914 shares of the real estate investment trust’s stock valued at $1,031,000 after purchasing an additional 210 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Life Storage by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 68,554 shares of the real estate investment trust’s stock valued at $5,080,000 after purchasing an additional 1,241 shares in the last quarter. Institutional investors and hedge funds own 99.62% 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.

Analyst Recommendations for Life Storage (NYSE:LSI)

Receive News & Stock 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 stocks with our FREE daily email newsletter.