BlackRock Inc. boosted its position in shares of Life Storage Inc (NYSE:LSI) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,525,374 shares of the real estate investment trust’s stock after purchasing an additional 83,927 shares during the quarter. BlackRock Inc. owned about 11.86% of Life Storage worth $525,796,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in LSI. Massachusetts Financial Services Co. MA increased its stake in shares of Life Storage by 21.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,425,183 shares of the real estate investment trust’s stock valued at $325,940,000 after acquiring an additional 608,989 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Life Storage by 22,651.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,456,114 shares of the real estate investment trust’s stock valued at $138,564,000 after acquiring an additional 1,449,714 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Life Storage by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 717,211 shares of the real estate investment trust’s stock valued at $69,792,000 after acquiring an additional 7,111 shares during the last quarter. Northern Trust Corp increased its stake in shares of Life Storage by 4.7% in the 2nd quarter. Northern Trust Corp now owns 705,845 shares of the real estate investment trust’s stock valued at $68,685,000 after acquiring an additional 31,787 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Life Storage by 0.9% in the 2nd quarter. Macquarie Group Ltd. now owns 626,889 shares of the real estate investment trust’s stock valued at $61,003,000 after acquiring an additional 5,850 shares during the last quarter.
In related news, Director Arthur L. Havener, Jr. sold 650 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $99.00, for a total transaction of $64,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kenneth F. Myszka sold 5,000 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $94.39, for a total value of $471,950.00. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.
NYSE LSI opened at $101.17 on Friday. Life Storage Inc has a 52-week low of $76.42 and a 52-week high of $102.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $4.55 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 3.94 and a beta of 0.39.
Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. Life Storage had a return on equity of 6.68% and a net margin of 24.81%. The business had revenue of $141.50 million during the quarter, compared to analysts’ expectations of $141.10 million. During the same period in the prior year, the business earned $0.76 EPS. Life Storage’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Life Storage Inc will post 5.49 earnings per share for the current year.
A number of analysts have recently commented on LSI shares. SunTrust Banks reaffirmed a “hold” rating and issued a $95.00 price target on shares of Life Storage in a research note on Monday, September 24th. Citigroup lowered their price target on Life Storage from $100.00 to $91.00 and set a “neutral” rating for the company in a research note on Friday, October 5th. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Thursday, August 23rd. Finally, ValuEngine raised Life Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $91.55.
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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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