PGGM Investments lessened its holdings in shares of Life Storage Inc (NYSE:LSI) by 57.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 745,722 shares of the real estate investment trust’s stock after selling 1,021,142 shares during the quarter. PGGM Investments’ holdings in Life Storage were worth $80,747,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. 1 North Wealth Services LLC bought a new position in Life Storage during the 3rd quarter worth about $30,000. AdvisorNet Financial Inc bought a new position in Life Storage during the 3rd quarter worth about $46,000. Quadrant Capital Group LLC increased its holdings in Life Storage by 121.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 878 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 482 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Life Storage by 228.0% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 984 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 684 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Life Storage by 61.9% during the 2nd quarter. Assetmark Inc. now owns 1,627 shares of the real estate investment trust’s stock worth $155,000 after purchasing an additional 622 shares in the last quarter. 92.31% of the stock is currently owned by institutional investors and hedge funds.
LSI has been the subject of a number of research reports. Jefferies Financial Group upgraded Life Storage from a “hold” rating to a “buy” rating and increased their target price for the stock from $113.00 to $122.00 in a report on Friday, October 11th. Stifel Nicolaus upgraded Life Storage from a “hold” rating to a “buy” rating and increased their target price for the stock from $106.00 to $114.00 in a report on Thursday, October 31st. Bank of America upgraded Life Storage from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $102.00 to $111.00 in a report on Monday, January 6th. Zacks Investment Research upgraded Life Storage from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, October 15th. Finally, KeyCorp increased their target price on Life Storage from $110.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Life Storage presently has a consensus rating of “Buy” and an average price target of $111.50.
Shares of NYSE LSI traded up $0.39 during mid-day trading on Friday, hitting $114.42. The company had a trading volume of 50,858 shares, compared to its average volume of 417,264. The company has a market capitalization of $5.18 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 4.54 and a beta of 0.30. The firm has a 50-day simple moving average of $108.02 and a two-hundred day simple moving average of $104.94. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Life Storage Inc has a one year low of $90.99 and a one year high of $114.09.
Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.60). The company had revenue of $145.63 million during the quarter, compared to the consensus estimate of $146.77 million. Life Storage had a net margin of 54.38% and a return on equity of 14.85%. Life Storage’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS. Sell-side analysts expect that Life Storage Inc will post 5.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Tuesday, January 14th will be issued a $1.07 dividend. This is a boost from Life Storage’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, January 13th. This represents a $4.28 annualized dividend and a dividend yield of 3.74%. Life Storage’s dividend payout ratio (DPR) is presently 77.68%.
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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