FBR & Co downgraded shares of Life Storage, Inc. (NYSE:LSI) from a neutral rating to a sell rating in a research note published on Tuesday, MarketBeat reports. The brokerage currently has $70.00 price objective on the real estate investment trust’s stock. FBR & Co also issued estimates for Life Storage’s Q3 2017 earnings at $1.35 EPS, Q4 2017 earnings at $1.34 EPS, FY2017 earnings at $5.27 EPS, Q1 2018 earnings at $1.32 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $5.39 EPS and FY2019 earnings at $5.25 EPS.

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

Life Storage (NYSE LSI) opened at 80.60 on Tuesday. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 70.52 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 firm’s 50-day moving average price is $74.76 and its 200 day moving average price is $77.65.

Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). The company had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. Life Storage’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. On average, equities research analysts expect that Life Storage will post $1.91 earnings per share for the current fiscal year.

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In other news, CFO Andrew J. Gregoire bought 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average price of $71.65 per share, with a total value of $107,475.00. Following the acquisition, the chief financial officer now owns 48,173 shares of the company’s stock, valued at approximately $3,451,595.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul T. Powell bought 700 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of $71.57 per share, with a total value of $50,099.00. Following the acquisition, the insider now directly owns 44,996 shares in the company, valued at approximately $3,220,363.72. The disclosure for this purchase can be found here. Insiders purchased a total of 3,190 shares of company stock valued at $230,042 in the last ninety days. 1.90% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Anchor Capital Advisors LLC boosted its holdings in Life Storage by 1.5% in the 1st quarter. Anchor Capital Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 50 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Life Storage by 0.8% during the 2nd 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 during the last quarter. Utah Retirement Systems boosted its holdings in shares of Life Storage by 1.1% during the 1st quarter. Utah Retirement Systems now owns 9,596 shares of the real estate investment trust’s stock valued at $788,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Life Storage by 0.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,944 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 135 shares during the last quarter. 99.62% of the stock is owned by 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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