Wolverine Asset Management LLC purchased a new position in Life Storage, Inc. (NYSE:LSI) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,088 shares of the real estate investment trust’s stock, valued at approximately $185,000.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Life Storage by 3.4% during the fourth quarter. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust’s stock valued at $460,516,000 after acquiring an additional 170,576 shares during the period. APG Asset Management US Inc. raised its holdings in shares of Life Storage by 29.8% during the fourth quarter. APG Asset Management US Inc. now owns 871,000 shares of the real estate investment trust’s stock valued at $77,580,000 after acquiring an additional 200,000 shares during the period. Land & Buildings Investment Management LLC acquired a new stake in shares of Life Storage during the third quarter valued at approximately $67,395,000. Macquarie Group Ltd. raised its holdings in shares of Life Storage by 8.8% during the third quarter. Macquarie Group Ltd. now owns 771,796 shares of the real estate investment trust’s stock valued at $63,141,000 after acquiring an additional 62,544 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Life Storage by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 668,219 shares of the real estate investment trust’s stock valued at $54,665,000 after acquiring an additional 17,905 shares during the period.
A number of research analysts recently commented on the stock. Cantor Fitzgerald set a $84.00 price objective on shares of Life Storage and gave the company a “hold” rating in a research report on Thursday, March 8th. Robert W. Baird downgraded shares of Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 price objective on the stock. in a research report on Thursday, January 25th. Citigroup downgraded shares of Life Storage from a “buy” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a research report on Thursday, December 14th. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th. Finally, BMO Capital Markets set a $78.00 price objective on shares of Life Storage and gave the company a “sell” rating in a research report on Wednesday, February 21st. 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 stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.29.
Shares of NYSE LSI traded down $0.14 during trading hours on Friday, hitting $85.18. 556,563 shares of the stock were exchanged, compared to its average volume of 392,471. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85. The company has a market cap of $3,962.23, a P/E ratio of 16.04, a P/E/G ratio of 3.41 and a beta of 0.49. Life Storage, Inc. has a one year low of $69.00 and a one year high of $91.75.
Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.03. The business had revenue of $133.08 million during the quarter, compared to the consensus estimate of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. Life Storage’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. equities research analysts forecast that Life Storage, Inc. will post 5.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Investors of record on Friday, April 13th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Thursday, April 12th. Life Storage’s payout ratio is currently 75.33%.
ILLEGAL ACTIVITY WARNING: This story was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.dispatchtribunal.com/2018/04/08/2088-shares-in-life-storage-inc-lsi-purchased-by-wolverine-asset-management-llc.html.
Life Storage 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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.