Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Life Storage Inc (NYSE:LSI) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 12,556 shares of the real estate investment trust’s stock, valued at approximately $1,222,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Natixis purchased a new position in shares of Life Storage in the first quarter worth about $235,000. Millennium Management LLC increased its position in Life Storage by 75.6% during the first quarter. Millennium Management LLC now owns 67,606 shares of the real estate investment trust’s stock worth $5,646,000 after purchasing an additional 29,110 shares during the last quarter. Teza Capital Management LLC increased its position in Life Storage by 40.5% during the first quarter. Teza Capital Management LLC now owns 5,163 shares of the real estate investment trust’s stock worth $431,000 after purchasing an additional 1,489 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Life Storage during the second quarter worth about $3,593,000. Finally, Legal & General Group Plc increased its position in Life Storage by 15.5% during the first quarter. Legal & General Group Plc now owns 196,808 shares of the real estate investment trust’s stock worth $16,437,000 after purchasing an additional 26,433 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on LSI shares. ValuEngine upgraded shares of Life Storage from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Zacks Investment Research cut shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. TheStreet upgraded shares of Life Storage from a “c+” rating to a “b” rating in a research report on Wednesday, May 2nd. Citigroup raised their price objective on shares of Life Storage from $83.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, July 12th. Finally, DA Davidson raised their price objective on shares of Life Storage to $105.00 in a research report on Friday, August 3rd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Life Storage currently has an average rating of “Hold” and a consensus target price of $88.64.
Shares of LSI opened at $100.55 on Wednesday. Life Storage Inc has a 1-year low of $72.84 and a 1-year high of $102.91. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 4.16 and a beta of 0.44. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.86.
Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.50). Life Storage had a net margin of 24.04% and a return on equity of 6.53%. The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $135.97 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. Life Storage’s revenue was up 3.9% on a year-over-year basis. equities research analysts predict that Life Storage Inc will post 5.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 26th. Shareholders of record on Monday, July 16th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, July 13th. Life Storage’s dividend payout ratio is presently 75.33%.
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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