Life Storage Inc (NYSE:LSI) – Jefferies Financial Group increased their FY2019 EPS estimates for Life Storage in a research note issued on Sunday, November 10th, according to Zacks Investment Research. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings per share of $5.62 for the year, up from their prior estimate of $5.59. Jefferies Financial Group currently has a “Buy” rating and a $122.00 price target on the stock. Jefferies Financial Group also issued estimates for Life Storage’s Q4 2019 earnings at $1.43 EPS, FY2020 earnings at $6.02 EPS and FY2021 earnings at $6.41 EPS.
A number of other brokerages have also recently commented on LSI. Robert W. Baird upgraded Life Storage from an “underperform” rating to a “neutral” rating and raised their target price for the company from $92.00 to $101.00 in a report on Wednesday, August 21st. Stifel Nicolaus upgraded Life Storage from a “hold” rating to a “buy” rating and raised their target price for the company from $106.00 to $114.00 in a report on Thursday, October 31st. Zacks Investment Research upgraded Life Storage from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, October 15th. Raymond James raised their target price on Life Storage from $106.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, KeyCorp raised their target price on Life Storage from $110.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $110.00.
Shares of NYSE LSI traded down $0.52 during mid-day trading on Tuesday, reaching $109.01. 351,877 shares of the company’s stock were exchanged, compared to its average volume of 376,177. The company’s 50-day moving average is $107.83 and its 200-day moving average is $102.53. Life Storage has a 52-week low of $89.54 and a 52-week high of $112.64. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 5.06 and a beta of 0.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.28.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.60). The business had revenue of $145.63 million for the quarter, compared to analysts’ expectations of $146.77 million. Life Storage had a return on equity of 14.85% and a net margin of 54.38%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 earnings per share.
Hedge funds have recently bought and sold shares of the business. 1 North Wealth Services LLC acquired a new stake in Life Storage in the 3rd quarter valued at about $30,000. Steward Partners Investment Advisory LLC acquired a new stake in Life Storage in the 2nd quarter valued at about $28,000. AdvisorNet Financial Inc acquired a new stake in Life Storage in the 3rd quarter valued at about $46,000. Quadrant Capital Group LLC raised its position in Life Storage by 121.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 878 shares of the real estate investment trust’s stock valued at $90,000 after purchasing an additional 482 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in Life Storage in the 2nd quarter valued at about $85,000. 92.29% of the stock is currently owned by institutional investors.
About Life Storage
Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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