Life Storage (NYSE:LSI) Receives New Coverage from Analysts at StockNews.com

Posted by on Apr 27th, 2023

Research analysts at StockNews.com initiated coverage on shares of Life Storage (NYSE:LSI – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. Wolfe Research downgraded Life Storage from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 12th. Jefferies Financial Group downgraded Life Storage from a “buy” rating to a “hold” rating and lowered their target price for the company from $123.00 to $97.00 in a report on Monday, January 2nd. Citigroup downgraded Life Storage from a “buy” rating to a “neutral” rating and set a $126.00 target price on the stock. in a report on Wednesday, February 8th. Truist Financial increased their target price on Life Storage from $115.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, March 8th. Finally, KeyCorp increased their target price on Life Storage from $136.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 5th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Life Storage presently has a consensus rating of “Hold” and a consensus price target of $127.22.

Life Storage Trading Down 0.5 %

NYSE LSI opened at $131.75 on Thursday. Life Storage has a 12 month low of $94.02 and a 12 month high of $146.66. The stock has a market cap of $11.21 billion, a P/E ratio of 31.15 and a beta of 0.65. The stock’s fifty day moving average price is $128.89 and its 200-day moving average price is $113.60. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.93.

Institutional Investors Weigh In On Life Storage

A number of institutional investors and hedge funds have recently bought and sold shares of LSI. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Life Storage by 116.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,125 shares of the real estate investment trust’s stock valued at $1,141,000 after acquiring an additional 4,365 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Life Storage by 23.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,423 shares of the real estate investment trust’s stock valued at $621,000 after acquiring an additional 840 shares during the period. Cetera Advisor Networks LLC increased its holdings in shares of Life Storage by 30.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 2,834 shares of the real estate investment trust’s stock valued at $398,000 after acquiring an additional 655 shares during the period. Sei Investments Co. increased its holdings in shares of Life Storage by 2.9% in the 1st quarter. Sei Investments Co. now owns 208,609 shares of the real estate investment trust’s stock valued at $29,266,000 after acquiring an additional 5,831 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Life Storage by 2.5% in the 1st quarter. Allianz Asset Management GmbH now owns 348,298 shares of the real estate investment trust’s stock valued at $48,911,000 after acquiring an additional 8,469 shares during the period. 89.61% of the stock is owned by institutional investors.

About Life Storage

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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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