Eii Capital Management Inc. raised its stake in shares of Life Storage Inc (NYSE:LSI) by 0.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 19,702 shares of the real estate investment trust’s stock after buying an additional 162 shares during the period. Eii Capital Management Inc.’s holdings in Life Storage were worth $1,873,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Amalgamated Bank grew its holdings in Life Storage by 1.2% during the 4th quarter. Amalgamated Bank now owns 9,114 shares of the real estate investment trust’s stock valued at $848,000 after buying an additional 107 shares during the last quarter. Suntrust Banks Inc. lifted its stake in shares of Life Storage by 0.7% during the 4th quarter. Suntrust Banks Inc. now owns 17,735 shares of the real estate investment trust’s stock worth $1,649,000 after purchasing an additional 131 shares during the period. Stifel Financial Corp lifted its stake in shares of Life Storage by 5.2% during the 4th quarter. Stifel Financial Corp now owns 2,977 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 146 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Life Storage by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 20,117 shares of the real estate investment trust’s stock worth $1,954,000 after purchasing an additional 170 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Life Storage by 1.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,604 shares of the real estate investment trust’s stock worth $1,810,000 after purchasing an additional 177 shares during the period. 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 hours on Tuesday, reaching $98.49. 259,800 shares of the company’s stock were exchanged, compared to its average volume of 374,919. Life Storage Inc has a 52-week low of $88.92 and a 52-week high of $102.91. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 4.41 and a beta of 0.37. The company’s fifty day moving average is $97.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.26 and a quick ratio of 0.26.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.58). The business had revenue of $136.52 million for the quarter, compared to analysts’ expectations of $136.41 million. Life Storage had a return on equity of 10.17% and a net margin of 37.37%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. As a group, equities analysts forecast that Life Storage Inc will post 5.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, July 16th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, July 15th. Life Storage’s dividend payout ratio (DPR) is currently 72.60%.
LSI has been the topic of a number of recent analyst reports. Evercore ISI lowered Prologis from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $75.00 to $78.00 in a research note on Monday, May 20th. Raymond James lowered First Midwest Bancorp to a “hold” rating in a research note on Monday, July 8th. Zacks Investment Research lowered H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $99.38.
In related news, Director Arthur L. Havener, Jr. sold 598 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $95.77, for a total value of $57,270.46. Following the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $644,340.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.80% of the company’s stock.
About Life Storage
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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