Life Storage (NYSE:LSI) PT Raised to $160.00 at KeyCorp

Life Storage (NYSE:LSI) had its price objective hoisted by analysts at KeyCorp from $146.00 to $160.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price objective would indicate a potential upside of 15.27% from the stock’s current price.

Several other research firms also recently weighed in on LSI. Truist upped their price target on Life Storage from $123.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, December 2nd. Wolfe Research began coverage on Life Storage in a report on Friday, December 17th. They set an “outperform” rating and a $186.00 price objective on the stock. Raymond James upped their price objective on Life Storage from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, December 2nd. Evercore ISI reaffirmed a “buy” rating and set a $145.00 price objective on shares of Life Storage in a report on Friday, October 22nd. Finally, Citigroup increased their price target on Life Storage from $122.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $143.70.

LSI stock opened at $138.80 on Thursday. Life Storage has a 1-year low of $79.33 and a 1-year high of $154.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 6.66 and a beta of 0.45. The business has a 50 day simple moving average of $139.88 and a two-hundred day simple moving average of $127.22.

Life Storage (NYSE:LSI) last posted its quarterly earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.39). Life Storage had a return on equity of 8.17% and a net margin of 29.53%. During the same period in the prior year, the company earned $1.01 earnings per share. Sell-side analysts anticipate that Life Storage will post 5.01 EPS for the current fiscal year.

In related news, CEO Joseph Saffire sold 4,000 shares of Life Storage stock in a transaction that occurred on Monday, December 20th. The stock was sold at an average price of $146.39, for a total transaction of $585,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew J. Gregoire sold 7,500 shares of Life Storage stock in a transaction that occurred on Monday, November 29th. The shares were sold at an average price of $134.66, for a total value of $1,009,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,500 shares of company stock valued at $6,947,560. Company insiders own 0.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. HighTower Trust Services LTA acquired a new stake in Life Storage in the fourth quarter valued at approximately $414,000. Louisiana State Employees Retirement System grew its holdings in Life Storage by 5.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the real estate investment trust’s stock valued at $3,232,000 after purchasing an additional 1,100 shares during the period. Exchange Traded Concepts LLC grew its holdings in 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 period. Diversified Trust Co acquired a new stake in Life Storage in the fourth quarter valued at approximately $207,000. Finally, State of Alaska Department of Revenue grew its holdings in Life Storage by 23.3% in the fourth quarter. State of Alaska Department of Revenue now owns 64,450 shares of the real estate investment trust’s stock valued at $9,871,000 after purchasing an additional 12,162 shares during the period. Institutional investors own 89.83% of the company’s stock.

About Life Storage

Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

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