NWQ Investment Management Company LLC lessened its stake in Life Storage, Inc. (NYSE:LSI) by 60.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,600 shares of the real estate investment trust’s stock after selling 99,240 shares during the period. NWQ Investment Management Company LLC owned about 0.14% of Life Storage worth $5,754,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in LSI. Solaris Asset Management LLC purchased a new stake in Life Storage in the 4th quarter worth approximately $112,000. Acadian Asset Management LLC purchased a new stake in Life Storage in the 4th quarter worth approximately $131,000. Wolverine Asset Management LLC purchased a new stake in Life Storage in the 4th quarter worth approximately $185,000. Bbva Compass Bancshares Inc. purchased a new stake in Life Storage in the 4th quarter worth approximately $224,000. Finally, Koch Industries Inc. purchased a new position in shares of Life Storage during the 4th quarter valued at approximately $259,000.
A number of research analysts have recently issued reports on the company. Citigroup lowered Life Storage from a “buy” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Thursday, December 14th. UBS lowered Life Storage from a “neutral” rating to a “sell” rating and set a $75.00 target price on the stock. in a research report on Friday, December 15th. Robert W. Baird lowered Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 price objective on the stock. in a report on Thursday, January 25th. Zacks Investment Research upgraded Life Storage from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. Finally, Cantor Fitzgerald set a $84.00 price objective on Life Storage and gave the company a “hold” rating in a report on Thursday, March 8th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $81.29.
Shares of LSI opened at $85.18 on Friday. Life Storage, Inc. has a 52-week low of $69.00 and a 52-week high of $91.75. The firm has a market capitalization of $3,959.89, a price-to-earnings ratio of 16.04, a P/E/G ratio of 3.41 and a beta of 0.49. 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 (NYSE:LSI) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Life Storage had a return on equity of 4.83% and a net margin of 18.19%. The business had revenue of $133.08 million during the quarter, compared to the consensus estimate of $133.46 million. During the same period last year, the company earned $1.31 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. sell-side analysts forecast that Life Storage, Inc. will post 5.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Friday, April 13th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Thursday, April 12th. Life Storage’s dividend payout ratio (DPR) is presently 75.33%.
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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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