Dimensional Fund Advisors LP lifted its position in Life Storage Inc (NYSE:LSI) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 710,100 shares of the real estate investment trust’s stock after acquiring an additional 18,403 shares during the quarter. Dimensional Fund Advisors LP owned 1.53% of Life Storage worth $59,308,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in LSI. Wolverine Asset Management LLC bought a new stake in Life Storage during the 4th quarter valued at about $185,000. Bbva Compass Bancshares Inc. bought a new stake in Life Storage during the 4th quarter valued at about $224,000. Bridgeworth LLC bought a new stake in Life Storage during the 1st quarter valued at about $215,000. Koch Industries Inc. bought a new stake in Life Storage during the 4th quarter valued at about $259,000. Finally, Vident Investment Advisory LLC bought a new stake in Life Storage during the 4th quarter valued at about $278,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.
LSI has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Life Storage from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. Citigroup reissued a “hold” rating and set a $83.00 target price (down previously from $95.00) on shares of Life Storage in a research report on Thursday, March 1st. BMO Capital Markets raised shares of Life Storage from an “underperform” rating to a “market perform” rating and raised their target price for the company from $78.00 to $79.00 in a research report on Friday, March 2nd. Jefferies Financial Group set a $82.00 target price on shares of Life Storage and gave the company a “hold” rating in a research report on Monday, March 5th. Finally, Cantor Fitzgerald set a $84.00 target price on shares of Life Storage and gave the company a “hold” rating in a research report on Thursday, March 8th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $82.93.
Shares of Life Storage stock opened at $95.82 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.87. Life Storage Inc has a 52-week low of $69.00 and a 52-week high of $95.89. The company has a market capitalization of $4.35 billion, a PE ratio of 18.05, a PEG ratio of 3.75 and a beta of 0.50.
Life Storage (NYSE:LSI) last issued its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.55). Life Storage had a return on equity of 5.52% and a net margin of 20.55%. The firm had revenue of $133.10 million during the quarter, compared to analysts’ expectations of $134.71 million. During the same period in the previous year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts expect that Life Storage Inc will post 5.37 earnings per share for the current fiscal year.
In related news, CEO David L. Rogers sold 26,951 shares of Life Storage stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $92.84, for a total value of $2,502,130.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Attea sold 27,679 shares of Life Storage stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $92.52, for a total transaction of $2,560,861.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,106 shares of company stock worth $6,835,588. Insiders own 1.80% of the company’s stock.
Life Storage Company Profile
Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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