StockNews.com Initiates Coverage on Life Storage (NYSE:LSI)

Posted by Defense World Staff on Jun 22nd, 2023

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

Other equities analysts also recently issued research reports about the company. Raymond James lifted their price objective on Life Storage from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, April 4th. Stifel Nicolaus lifted their price objective on Life Storage from $140.00 to $145.00 in a research report on Friday, May 12th. KeyCorp boosted their target price on Life Storage from $136.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 5th. Truist Financial boosted their target price on Life Storage from $120.00 to $122.00 in a research report on Thursday, June 15th. Finally, Wolfe Research downgraded Life Storage from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 12th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Life Storage presently has a consensus rating of “Hold” and a consensus target price of $128.63.

Life Storage Trading Up 1.6 %

Shares of LSI opened at $130.38 on Thursday. The stock has a fifty day moving average price of $131.95 and a two-hundred day moving average price of $120.85. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.42 and a current ratio of 0.42. Life Storage has a 52-week low of $94.02 and a 52-week high of $146.66. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 30.25 and a beta of 0.65.

Insider Buying and Selling

In related news, Director Stephen R. Rusmisel sold 2,500 shares of Life Storage stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $129.92, for a total transaction of $324,800.00. Following the completion of the sale, the director now directly owns 17,801 shares of the company’s stock, valued at $2,312,705.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Arthur L. Havener, Jr. sold 2,625 shares of Life Storage stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $127.76, for a total transaction of $335,370.00. Following the completion of the sale, the director now directly owns 14,901 shares of the company’s stock, valued at $1,903,751.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen R. Rusmisel sold 2,500 shares of Life Storage stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $129.92, for a total value of $324,800.00. Following the sale, the director now directly owns 17,801 shares of the company’s stock, valued at $2,312,705.92. The disclosure for this sale can be found here. Insiders sold a total of 10,161 shares of company stock valued at $1,320,037 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. acquired a new position in Life Storage in the fourth quarter valued at about $28,000. Brown Brothers Harriman & Co. bought a new stake in shares of Life Storage in the first quarter valued at about $32,000. Raleigh Capital Management Inc. lifted its holdings in shares of Life Storage by 148.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 333 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 199 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Life Storage in the first quarter valued at about $38,000. Finally, Accurate Wealth Management LLC bought a new stake in shares of Life Storage in the fourth quarter valued at about $53,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Life Storage Company Profile

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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.