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Fly News Breaks for March 2, 2018
LSI
Mar 2, 2018 | 06:21 EDT
As reported earlier, BMO Capital analyst R. Jeremy Metz upgraded Life Storage to Market Perform from Underperform and raised his price target to $79 from $78. Metz notes that while the REIT is faced with the ongoing supply and revenue pressure in its core Texas market, the easier comps this year relative to FY17 should produce revenue growth of 1-2%. The analyst also cites the company's attractive valuation, trading at about a 10% discount relative to its net asset value.
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