Accurate Investment Solutions Inc. boosted its stake in shares of Life Storage Inc (NYSE:LSI) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,785 shares of the real estate investment trust’s stock after buying an additional 1,833 shares during the period. Life Storage makes up approximately 1.5% of Accurate Investment Solutions Inc.’s holdings, making the stock its 27th biggest holding. Accurate Investment Solutions Inc.’s holdings in Life Storage were worth $1,976,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Advisor Group Inc. raised its holdings in Life Storage by 68.8% during the 4th quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 190 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Life Storage by 867.0% in the first quarter. Quadrant Capital Group LLC now owns 938 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 841 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Life Storage in the first quarter valued at approximately $98,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Life Storage in the first quarter valued at approximately $208,000. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Life Storage in the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 95.57% of the company’s stock.
Shares of Life Storage stock traded up $1.27 during trading on Tuesday, reaching $98.49. The company’s stock had a trading volume of 259,854 shares, compared to its average volume of 374,919. The firm’s 50-day moving average price is $97.92. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 4.41 and a beta of 0.37. Life Storage Inc has a 52 week low of $88.92 and a 52 week high of $102.91. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.26 and a current ratio of 0.26.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). The company had revenue of $136.52 million during the quarter, compared to analyst estimates of $136.41 million. Life Storage had a net margin of 37.37% and a return on equity of 10.17%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.27 EPS. On average, equities analysts forecast that Life Storage Inc will post 5.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, July 16th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Monday, July 15th. Life Storage’s dividend payout ratio (DPR) is presently 72.60%.
A number of analysts have recently issued reports on the stock. Evercore ISI downgraded shares of Prologis from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $75.00 to $78.00 in a report on Monday, May 20th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Finally, Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $99.38.
In related news, Director Arthur L. Havener, Jr. sold 598 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $95.77, for a total value of $57,270.46. Following the completion of the transaction, the director now owns 6,728 shares of the company’s stock, valued at $644,340.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by insiders.
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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