Life Storage (NYSE:LSI) Research Coverage Started at StockNews.com

Posted by Defense World Staff on Jul 16th, 2023

Investment analysts at StockNews.com began coverage on shares of Life Storage (NYSE:LSI – Get Free Report) in a research note issued on Sunday. The firm set a “hold” rating on the real estate investment trust’s stock.

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

Life Storage Stock Up 0.8 %

LSI opened at $139.18 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.95. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 32.29 and a beta of 0.65. Life Storage has a twelve month low of $94.02 and a twelve month high of $146.66. The company’s 50-day moving average price is $131.49 and its two-hundred day moving average price is $124.25.

Insiders Place Their Bets

In other Life Storage news, Director Stephen R. Rusmisel sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $129.92, for a total value of $324,800.00. Following the completion of the transaction, the director now owns 17,801 shares of the company’s stock, valued at approximately $2,312,705.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Joseph Saffire sold 5,036 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $131.03, for a total value of $659,867.08. Following the completion of the sale, the chief executive officer now owns 83,780 shares of the company’s stock, valued at approximately $10,977,693.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen R. Rusmisel sold 2,500 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were 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 approximately $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 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Life Storage

A number of institutional investors have recently made changes to their positions in LSI. ST Germain D J Co. Inc. purchased a new stake in Life Storage during the 4th quarter valued at $28,000. Brown Brothers Harriman & Co. purchased a new stake in Life Storage during the 1st quarter valued at $32,000. Raleigh Capital Management Inc. boosted its position in Life Storage by 148.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 333 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 199 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Life Storage during the 1st quarter valued at $38,000. Finally, Accurate Wealth Management LLC bought a new position in Life Storage in the 4th quarter worth $53,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Life Storage Company Profile

(Get Free Report)

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 1,200 storage facilities in 37 states and the District of Columbia. The Company serves both residential and commercial storage customers with storage units rented by month.

Analyst Recommendations for Life Storage (NYSE:LSI)

Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.