Koch Industries Inc. acquired a new position in Life Storage, Inc. (NYSE:LSI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,907 shares of the real estate investment trust’s stock, valued at approximately $259,000.
Other large investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in Life Storage by 3.4% in the 4th quarter. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust’s stock worth $460,516,000 after acquiring an additional 170,576 shares in the last quarter. APG Asset Management US Inc. increased its holdings in Life Storage by 29.8% in the 4th quarter. APG Asset Management US Inc. now owns 871,000 shares of the real estate investment trust’s stock worth $77,580,000 after acquiring an additional 200,000 shares in the last quarter. Land & Buildings Investment Management LLC purchased a new stake in Life Storage in the 3rd quarter worth approximately $67,395,000. Macquarie Group Ltd. increased its holdings in Life Storage by 8.8% in the 3rd quarter. Macquarie Group Ltd. now owns 771,796 shares of the real estate investment trust’s stock worth $63,141,000 after acquiring an additional 62,544 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Life Storage by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 668,219 shares of the real estate investment trust’s stock worth $54,665,000 after acquiring an additional 17,905 shares in the last quarter.
LSI traded down $0.14 during trading on Friday, reaching $85.18. 556,563 shares of the company traded hands, compared to its average volume of 392,471. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.19 and a quick ratio of 0.19. Life Storage, Inc. has a 12-month low of $69.00 and a 12-month high of $91.75. The firm has a market cap of $3,968.73, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 3.42 and a beta of 0.49.
Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $133.08 million during the quarter, compared to analyst estimates of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. sell-side analysts anticipate that Life Storage, Inc. will post 5.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Friday, April 13th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.70%. Life Storage’s dividend payout ratio is currently 75.33%.
LSI has been the subject of several analyst reports. Jefferies Group set a $82.00 target price on shares of Life Storage and gave the stock a “hold” rating in a report on Monday, March 5th. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. B. Riley set a $70.00 target price on shares of Life Storage and gave the stock a “sell” rating in a report on Wednesday, February 21st. BMO Capital Markets raised shares of Life Storage from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $78.00 to $79.00 in a report on Friday, March 2nd. Finally, Robert W. Baird lowered shares of Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 target price for the company. in a report on Thursday, January 25th. 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 stock currently has an average rating of “Hold” and a consensus price target of $81.29.
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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 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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