Citigroup Downgrades Life Storage (LSI) to Neutral

Life Storage (NYSE:LSI) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Thursday. They currently have a $95.00 target price on the real estate investment trust’s stock. Citigroup’s target price would indicate a potential upside of 5.23% from the company’s current price.

A number of other brokerages have also recently commented on LSI. Jefferies Group set a $72.00 target price on Life Storage and gave the company a “hold” rating in a report on Friday, August 18th. BidaskClub upgraded Life Storage from a “hold” rating to a “buy” rating in a report on Monday, September 18th. KeyCorp reiterated a “hold” rating on shares of Life Storage in a report on Thursday, October 12th. Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, B. Riley set a $70.00 target price on Life Storage and gave the company a “sell” rating in a report on Monday, December 4th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a strong buy rating to the company. Life Storage presently has an average rating of “Hold” and a consensus price target of $81.79.

Shares of Life Storage (LSI) opened at $90.28 on Thursday. The company has a market capitalization of $4,198.08, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 3.79 and a beta of 0.64. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85. Life Storage has a fifty-two week low of $69.00 and a fifty-two week high of $91.75.

Several institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in shares of Life Storage by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 72,882 shares of the real estate investment trust’s stock worth $5,962,000 after purchasing an additional 635 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Life Storage by 145.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,877 shares of the real estate investment trust’s stock worth $478,000 after purchasing an additional 3,484 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Life Storage by 38.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,696 shares of the real estate investment trust’s stock worth $956,000 after purchasing an additional 3,269 shares during the period. AMP Capital Investors Ltd lifted its stake in shares of Life Storage by 3.5% during the 3rd quarter. AMP Capital Investors Ltd now owns 17,696 shares of the real estate investment trust’s stock worth $1,448,000 after purchasing an additional 600 shares during the period. Finally, NWQ Investment Management Company LLC lifted its stake in shares of Life Storage by 0.7% during the 3rd quarter. NWQ Investment Management Company LLC now owns 163,840 shares of the real estate investment trust’s stock worth $13,404,000 after purchasing an additional 1,085 shares during the period. 96.75% of the stock is currently owned by institutional investors.

WARNING: This piece was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.thelincolnianonline.com/2017/12/16/citigroup-downgrades-life-storage-lsi-to-neutral.html.

Life Storage Company Profile

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.

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.

Leave a Reply