Life Storage Inc (LSI) Position Cut by Macquarie Group Ltd.

Marco Green
March 19, 2018

FBR now has a $70.0 TP on shares of Life Storage Inc (LSI). Raymond James & Associates now owns 13,321 shares of the real estate investment trust's stock valued at $1,186,000 after purchasing an additional 689 shares during the last quarter. APG Asset Management US Inc. increased its stake in Life Storage by 29.8% during the fourth quarter. Bank of New York Mellon Corp now owns 664,629 shares of the real estate investment trust's stock worth $54,373,000 after acquiring an additional 50,363 shares during the last quarter. The stock of Life Storage, Inc. KeyBanc's target suggests a potential downside of -8.57 % from the company's last stock close. After $2.75 actual earnings per share reported by Public Storage for the previous quarter, Wall Street now forecasts -10.55 % negative EPS growth. First Industrial Realty Trust, Inc.

Several other large investors have also recently bought and sold shares of the stock.

Among 19 analysts covering Public Storage (NYSE:PSA), 2 have Buy rating, 5 Sell and 12 Hold. $210.44's average target is 7.49% above currents $195.77 stock price. They noted that the move was a valuation call. Citigroup maintained the shares of PSA in report on Thursday, March 1 with "Neutral" rating. The firm has "Hold" rating given on Monday, August 22 by Evercore.

Merrill Lynch lowered their rating for shares of Public Storage (NYSE:PSA) to a Sell in an analyst report released on Monday, 4 December. KeyBanc Capital Markets maintained Public Storage (NYSE:PSA) on Wednesday, November 15 with "Sell" rating. Their target is 7.07 % from PSA's current share price. Public Storage (NYSE:PSA) has declined 14.14% since March 18, 2017 and is downtrending. Institutional investors own 81.75% of the company's stock. The stock of Public Storage (NYSE:PSA) has "Outperform" rating given on Friday, September 4 by Raymond James. 1,136,318 shares of the company were exchanged, compared to its average volume of 1,088,966.

Security Capital Research & Management Inc increased Public Storage (PSA) stake by 20.75% reported in 2017Q3 SEC filing. BMO Capital Markets initiated Public Storage (NYSE:PSA) on Monday, September 11 with "Sell" rating. Wells Fargo & Co set a $91.00 price target on Life Storage and gave the company a "hold" rating in a research report on Thursday, November 30th. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust's stock valued at $460,516,000 after purchasing an additional 170,576 shares during the last quarter. The business had revenue of $634.22 million during the quarter, compared to the consensus estimate of $643.46 million. Public Storage had a net margin of 51.16% and a return on equity of 27.48%. The firm's revenue for the quarter was up 3.4% compared to the same quarter a year ago.

Analysts await Public Storage (NYSE:PSA) to report earnings on April, 25.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 4.10%. Public Storage's payout ratio is presently 118.87%.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, February 21st. The institutional investor owned 622,760 shares of the real estate investment trust's stock after selling 149,036 shares during the period. The Company's principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.

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