Life Storage Inc Gets a Sell Rating from B.Riley FBR

By Ryan Adsit

In a report released yesterday, David Corak from B.Riley FBR assigned a Sell rating to Life Storage Inc (NYSE: LSI), with a price target of $70. The company’s shares closed yesterday at $89.27, close to its 52-week high of $89.63.

Corak commented:

“We met with Life Storage’s (Sell; $70.00 PT) management on Tuesday, November 14th, at 1:00 pm Central at the 2017 NAREIT Investor Conference. Below are the takeaways from the meeting. How the brand has changed. The average Google ranking for Life Storage has jumped from low 20’s to the top 10 from the last week in September to the first week in November. Management believes that the lower level of brand exposure was dragging on pricing, promotions, and occupancy. The team feels confident that they will stay in the top 10 range going forward based on the progress made and the lessons learned in the past 12 months. Supply. Right now, LSI is tracking 134 stores under construction (131 at earnings) that in theory will be delivered in the next 6-12 months. This compares to 212 that have opened in the last 2 years. Management notes that there is a big concentration of markets in these numbers, and that 2018 should be comparable to 2017 in terms of deliveries.”

According to, Corak is a 3-star analyst with an average return of 2.4% and a 56.4% success rate. Corak covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Preferred Apartment Communities, and NorthStar Realty Europe Corp.

Currently, the analyst consensus on Life Storage Inc is Moderate Sell and the average price target is $76.43, representing a -14.4% downside.

In a report issued on November 2, BMO Capital also assigned a Sell rating to the stock with a $73 price target.

Life Storage Inc’s market cap is currently $4.15B and has a P/E ratio of 44.41. The company has a book value ratio of 2.0343.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LSI in relation to earlier this year.

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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 also offers truck rental, office and rental space, and vehicle storage. It operates under the trade name Uncle Bob’s Self Storage. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F.