Oregon Public Employees Retirement Fund raised its stake in Life Storage, Inc. (NYSE:LSI) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,011 shares of the real estate investment trust’s stock after buying an additional 742 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Life Storage were worth $1,261,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in LSI. PNC Financial Services Group Inc. increased its stake in shares of Life Storage by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 124 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Life Storage during the first quarter valued at about $193,000. Creative Planning increased its stake in shares of Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 60 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Life Storage during the second quarter valued at about $222,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Life Storage during the fourth quarter valued at about $226,000. Institutional investors own 96.81% of the company’s stock.
Life Storage, Inc. (LSI) traded up 0.19% on Wednesday, hitting $72.51. The company had a trading volume of 128,711 shares. The stock’s 50-day moving average price is $73.95 and its 200 day moving average price is $79.50. Life Storage, Inc. has a one year low of $69.92 and a one year high of $100.77. The company has a market capitalization of $3.36 billion, a P/E ratio of 42.55 and a beta of 0.56.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by $0.01. Life Storage had a return on equity of 3.68% and a net margin of 15.72%. The firm had revenue of $128.30 million for the quarter, compared to analyst estimates of $128.19 million. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. On average, analysts expect that Life Storage, Inc. will post $2.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date was Thursday, July 13th. Life Storage’s dividend payout ratio (DPR) is currently 227.27%.
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Several brokerages have issued reports on LSI. FBR & Co set a $79.00 price target on Life Storage and gave the stock a “hold” rating in a report on Thursday, May 4th. Bank of America Corporation downgraded Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price target for the company. in a report on Tuesday, May 9th. ValuEngine downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC restated a “hold” rating and issued a $80.00 price target on shares of Life Storage in a report on Wednesday, June 14th. Finally, Cantor Fitzgerald downgraded Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $89.62.
In other news, insider Paul T. Powell purchased 700 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average cost of $73.04 per share, with a total value of $51,128.00. Following the purchase, the insider now owns 44,296 shares in the company, valued at $3,235,379.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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