JPM initiates coverage on Life Storage, says demand, pricing power up

Life Storage

22/02/2022 12:35

** J.P.Morgan initiates coverage on self-managed real estate
investment trust (REIT)  LSI.N  with "neutral" rating and PT of
$142 
    ** JPM says COVID-driven work-from-home scene accelerated
demand and pricing power
    ** Adds the demand and pricing power have helped Life
Storage to make acquisitions to strengthen portfolio 
    ** The acquisition landscape has become much more
competitive, but LSI does have the dry powder and capital costs
to continue to be active - JPM
    ** Eleven of 13 brokerages rate the stock "buy" or higher
and two "hold"; their median PT is $160 - Refinitiv
    ** Life Storage's shares up ~92% in 2021

 (Reporting by Subhadeep Chakravarty in Bengaluru)
 ((subhadeep.chakravarty@thomsonreuters.com))