Public Employees Retirement System of Ohio lessened its position in Life Storage Inc (NYSE:LSI) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,917 shares of the real estate investment trust’s stock after selling 1,877 shares during the period. Public Employees Retirement System of Ohio owned about 0.15% of Life Storage worth $6,829,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new position in shares of Life Storage in the first quarter worth approximately $42,000. Van ECK Associates Corp lifted its stake in shares of Life Storage by 109.2% in the first quarter. Van ECK Associates Corp now owns 571 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 298 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Life Storage in the second quarter worth approximately $57,000. Bellevue Asset Management LLC bought a new position in shares of Life Storage in the first quarter worth approximately $74,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Life Storage by 40.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,886 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Life Storage from $96.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Evercore ISI raised shares of Life Storage from an “in-line” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Monday, August 10th. BMO Capital Markets assumed coverage on shares of Life Storage in a report on Tuesday, July 21st. They set a “hold” rating and a $104.00 price objective for the company. KeyCorp boosted their price objective on shares of Life Storage from $106.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Finally, Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a report on Wednesday, August 12th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $109.83.
Shares of LSI stock opened at $110.93 on Wednesday. Life Storage Inc has a 12 month low of $67.31 and a 12 month high of $119.61. The stock has a market cap of $5.18 billion, a P/E ratio of 20.15, a P/E/G ratio of 5.46 and a beta of 0.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The company has a 50 day simple moving average of $103.36 and a two-hundred day simple moving average of $96.98.
Life Storage (NYSE:LSI) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.63). Life Storage had a net margin of 43.67% and a return on equity of 12.00%. The business had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $146.36 million. During the same period in the prior year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts forecast that Life Storage Inc will post 5.71 earnings per share for the current year.
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.
Featured Story: Yield Curve
Want to see what other hedge funds are holding LSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Life Storage Inc (NYSE:LSI).
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.