Life Storage (NYSE:LSI) Rating Lowered to Neutral at Bank of America

Life Storage (NYSE:LSI – Get Rating) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They presently have a $133.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $141.00. Bank of America‘s price target would suggest a potential upside of 23.09% from the stock’s previous close.

LSI has been the topic of several other reports. Truist Financial reduced their target price on Life Storage from $138.00 to $132.00 and set a “hold” rating on the stock in a research report on Wednesday, June 1st. BMO Capital Markets lowered Life Storage from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $150.00 to $130.00 in a report on Thursday, May 19th. Raymond James cut their price objective on Life Storage from $145.00 to $125.00 in a report on Monday, May 23rd. KeyCorp cut their price objective on Life Storage from $160.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday, June 16th. Finally, JPMorgan Chase & Co. increased their price objective on Life Storage from $142.00 to $154.00 and gave the company a “neutral” rating in a report on Monday, April 4th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.20.

Shares of NYSE:LSI opened at $108.05 on Tuesday. The business’s 50-day moving average is $120.99 and its 200 day moving average is $132.00. Life Storage has a 1 year low of $100.66 and a 1 year high of $154.45. The firm has a market capitalization of $9.12 billion, a P/E ratio of 31.69, a P/E/G ratio of 4.72 and a beta of 0.55. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.62 and a quick ratio of 0.62.

Life Storage (NYSE:LSI – Get Rating) last announced its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). Life Storage had a net margin of 32.60% and a return on equity of 8.71%. The business had revenue of $233.49 million for the quarter, compared to analyst estimates of $230.01 million. During the same period in the prior year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 35.8% on a year-over-year basis. On average, analysts expect that Life Storage will post 6.15 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Level Four Advisory Services LLC increased its holdings in shares of Life Storage by 3.6% in the fourth quarter. Level Four Advisory Services LLC now owns 2,354 shares of the real estate investment trust’s stock valued at $361,000 after purchasing an additional 82 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Life Storage by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,919 shares of the real estate investment trust’s stock valued at $753,000 after purchasing an additional 87 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Life Storage by 70.8% in the first quarter. Fifth Third Bancorp now owns 222 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 92 shares during the last quarter. Commerce Bank increased its holdings in shares of Life Storage by 2.0% in the first quarter. Commerce Bank now owns 5,017 shares of the real estate investment trust’s stock valued at $705,000 after purchasing an additional 97 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Life Storage by 2.2% in the first quarter. Stratos Wealth Partners LTD. now owns 5,531 shares of the real estate investment trust’s stock valued at $777,000 after purchasing an additional 117 shares during the last quarter. 91.67% of the stock is owned by hedge funds and other institutional investors.

About Life Storage (Get Rating)

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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