Daiwa Securities Group Inc. raised its stake in Life Storage Inc (NYSE:LSI) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,672,431 shares of the real estate investment trust’s stock after purchasing an additional 216,317 shares during the quarter. Life Storage accounts for about 1.5% of Daiwa Securities Group Inc.’s portfolio, making the stock its 19th biggest position. Daiwa Securities Group Inc. owned approximately 3.59% of Life Storage worth $155,519,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of LSI. Clean Yield Group bought a new position in shares of Life Storage in the fourth quarter valued at approximately $74,000. MML Investors Services LLC bought a new position in shares of Life Storage in the third quarter valued at approximately $222,000. Oakbrook Investments LLC bought a new position in shares of Life Storage in the third quarter valued at approximately $266,000. LS Investment Advisors LLC grew its holdings in shares of Life Storage by 19.3% in the fourth quarter. LS Investment Advisors LLC now owns 3,030 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 490 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Life Storage by 44.1% in the third quarter. Neuberger Berman Group LLC now owns 3,406 shares of the real estate investment trust’s stock valued at $324,000 after acquiring an additional 1,043 shares in the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.
LSI has been the subject of several recent analyst reports. Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating in a report on Tuesday, December 18th. They noted that the move was a valuation call. ValuEngine lowered Life Storage from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Finally, Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $93.33.
In other Life Storage news, COO Edward F. Killeen sold 1,306 shares of the stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $101.99, for a total transaction of $133,198.94. Following the completion of the transaction, the chief operating officer now directly owns 24,763 shares of the company’s stock, valued at $2,525,578.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Edward F. Killeen sold 4,006 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $101.10, for a total value of $405,006.60. Following the sale, the chief operating officer now owns 24,763 shares in the company, valued at approximately $2,503,539.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,962 shares of company stock valued at $602,556. 1.80% of the stock is owned by corporate insiders.
Shares of NYSE LSI opened at $101.40 on Monday. Life Storage Inc has a 1-year low of $76.42 and a 1-year high of $102.91. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 4.50 and a beta of 0.51. 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 also recently disclosed a quarterly dividend, which was paid on Monday, January 28th. Shareholders of record on Tuesday, January 15th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.94%. The ex-dividend date was Monday, January 14th. Life Storage’s dividend payout ratio (DPR) is 75.33%.
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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