Jefferies Group LLC Reaffirms “Hold” Rating for Life Storage, Inc. (LSI)

Jefferies Group LLC reiterated their hold rating on shares of Life Storage, Inc. (NYSE:LSI) in a research note published on Wednesday morning. Jefferies Group LLC currently has a $80.00 price objective on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. TheStreet raised shares of Life Storage from a c+ rating to a b- rating in a research report on Wednesday, February 22nd. Citigroup Inc. reissued a buy rating and issued a $92.00 price objective (down from $100.00) on shares of Life Storage in a research report on Sunday, May 14th. BMO Capital Markets reissued a buy rating and issued a $96.00 price objective on shares of Life Storage in a research report on Wednesday, March 22nd. Cantor Fitzgerald reissued a buy rating and issued a $95.00 price objective on shares of Life Storage in a research report on Monday, March 20th. Finally, Evercore ISI cut shares of Life Storage to a buy rating in a research report on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $92.33.

Shares of Life Storage (LSI) traded down 0.51% during mid-day trading on Wednesday, hitting $74.81. The stock had a trading volume of 39,424 shares. Life Storage has a 12-month low of $72.08 and a 12-month high of $107.71. The company’s 50 day moving average price is $74.99 and its 200 day moving average price is $81.72. The stock has a market cap of $3.46 billion, a P/E ratio of 43.90 and a beta of 0.56.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by $0.01. Life Storage had a return on equity of 3.68% and a net margin of 15.72%. The business had revenue of $128.30 million for the quarter, compared to analysts’ expectations of $128.19 million. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. Equities research analysts predict that Life Storage will post $2.36 EPS for the current fiscal year.

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In related news, insider Paul T. Powell bought 700 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were acquired at an average price of $73.04 per share, for a total transaction of $51,128.00. Following the purchase, the insider now owns 44,296 shares in the company, valued at approximately $3,235,379.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Life Storage by 2.5% in the first quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock worth $599,367,000 after buying an additional 179,513 shares during the period. BlackRock Inc. raised its stake in shares of 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 worth $406,317,000 after buying an additional 4,860,192 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Life Storage by 28.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock worth $217,386,000 after buying an additional 580,486 shares during the period. State Street Corp raised its stake in shares of Life Storage by 1.0% in the first quarter. State Street Corp now owns 2,045,152 shares of the real estate investment trust’s stock worth $167,946,000 after buying an additional 20,956 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Life Storage by 50.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock worth $120,467,000 after buying an additional 491,689 shares during the period. Institutional investors and hedge funds own 99.55% 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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