FY2017 EPS Estimates for Life Storage Inc (LSI) Cut by Analyst
Life Storage Inc (NYSE:LSI) – Research analysts at B. Riley decreased their FY2017 earnings estimates for Life Storage in a research note issued on Monday. B. Riley analyst D. Corak now forecasts that the real estate investment trust will earn $5.25 per share for the year, down from their previous forecast of $5.27. B. Riley currently has a “Sell” rating and a $70.00 target price on the stock. B. Riley also issued estimates for Life Storage’s Q4 2017 earnings at $1.28 EPS, Q1 2018 earnings at $1.29 EPS, Q2 2018 earnings at $1.38 EPS, Q3 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.25 EPS, FY2018 earnings at $5.38 EPS, Q1 2019 earnings at $1.23 EPS, Q2 2019 earnings at $1.32 EPS and Q3 2019 earnings at $1.42 EPS.
A number of other research firms have also recently issued reports on LSI. Jefferies Group set a $72.00 target price on Life Storage and gave the company a “hold” rating in a research report on Friday, August 18th. BidaskClub upgraded Life Storage from a “hold” rating to a “buy” rating in a report on Monday, September 18th. KeyCorp restated a “hold” rating on shares of Life Storage in a report on Thursday, October 12th. Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Cantor Fitzgerald boosted their price target on Life Storage from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.07.
A number of hedge funds have recently made changes to their positions in LSI. Land & Buildings Investment Management LLC bought a new stake in Life Storage in the third quarter valued at approximately $67,395,000. Macquarie Group Ltd. boosted its holdings in Life Storage by 373.4% in 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 acquiring an additional 559,428 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Life Storage by 922.2% in the third quarter. JPMorgan Chase & Co. now owns 590,488 shares of the real estate investment trust’s stock valued at $47,699,000 after buying an additional 532,721 shares during the period. Barings LLC acquired a new position in Life Storage in the third quarter valued at approximately $22,872,000. Finally, Prudential Financial Inc. lifted its stake in Life Storage by 840.0% in the third quarter. Prudential Financial Inc. now owns 299,983 shares of the real estate investment trust’s stock valued at $24,542,000 after buying an additional 268,070 shares during the period. Institutional investors and hedge funds own 96.75% of the company’s stock.
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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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