NGAM Advisors L.P. reduced its stake in shares of Life Storage, Inc. (NYSE:LSI) by 25.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 29,513 shares of the real estate investment trust’s stock after selling 9,815 shares during the period. NGAM Advisors L.P.’s holdings in Life Storage were worth $2,187,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Capital Management Corp VA boosted its stake in shares of Life Storage by 12.3% in the first quarter. Capital Management Corp VA now owns 88,595 shares of the real estate investment trust’s stock valued at $7,275,000 after buying an additional 9,711 shares during the last quarter. Sit Investment Associates Inc. boosted its stake in shares of Life Storage by 240.0% in the first quarter. Sit Investment Associates Inc. now owns 3,400 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 2,400 shares during the last quarter. Mesirow Financial Investment Management Equity Management boosted its stake in shares of Life Storage by 30.2% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 258,580 shares of the real estate investment trust’s stock valued at $21,234,000 after buying an additional 60,020 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Life Storage by 152.3% in the first quarter. ProShare Advisors LLC now owns 42,147 shares of the real estate investment trust’s stock valued at $1,357,000 after buying an additional 25,439 shares during the last quarter. Finally, Foster & Motley Inc. boosted its stake in shares of Life Storage by 13.5% in the first quarter. Foster & Motley Inc. now owns 30,355 shares of the real estate investment trust’s stock valued at $2,493,000 after buying an additional 3,620 shares during the last quarter. 96.44% of the stock is owned by institutional investors.
Life Storage, Inc. (NYSE LSI) opened at 72.13 on Friday. The firm has a 50-day moving average price of $73.35 and a 200 day moving average price of $79.03. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 63.11 and a beta of 0.56. Life Storage, Inc. has a one year low of $69.00 and a one year high of $95.05.
Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by $0.02. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same quarter in the prior year, the firm earned $1.32 EPS. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. Equities analysts expect that Life Storage, Inc. will post $2.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $4.00 dividend on an annualized basis and a yield of 5.55%. Life Storage’s dividend payout ratio is presently 347.83%.
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Several brokerages have recently weighed in on LSI. Zacks Investment Research cut Life Storage from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. TheStreet cut Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. ValuEngine cut Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cantor Fitzgerald cut Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Monday, May 15th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $92.00 target price (down previously from $100.00) on shares of Life Storage in a research note on Sunday, May 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $81.45.
Life Storage Company Profile
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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