Public Employees Retirement System of Ohio lessened its stake in Life Storage Inc (NYSE:LSI) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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’s holdings in Life Storage were worth $6,829,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. purchased a new position in Life Storage in the 1st quarter worth about $42,000. Van ECK Associates Corp increased its stake in Life Storage by 109.2% in the 1st 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 during the period. Private Advisor Group LLC purchased a new position in Life Storage in the 2nd quarter worth about $57,000. Bellevue Asset Management LLC purchased a new position in Life Storage in the 1st quarter worth about $74,000. Finally, Canada Pension Plan Investment Board increased its stake in Life Storage by 40.7% in the 2nd 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 during the period. 91.10% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. KeyCorp raised their target price on shares of Life Storage from $106.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Stifel Nicolaus raised their target price on shares of Life Storage from $96.00 to $115.00 and gave the company a “buy” rating in a research 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 target price on the stock in a research report on Monday, August 10th. BMO Capital Markets assumed coverage on shares of Life Storage in a research report on Tuesday, July 21st. They set a “hold” rating and a $104.00 target price on the stock. Finally, Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Life Storage presently has a consensus rating of “Buy” and an average price target of $109.83.
NYSE:LSI opened at $110.93 on Wednesday. Life Storage Inc has a fifty-two week low of $67.31 and a fifty-two week high of $119.61. The stock has a market capitalization 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 debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.25. The company’s 50-day simple moving average is $103.36 and its 200-day simple moving average is $96.98.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.63). The firm had revenue of $147.03 million during the quarter, compared to the consensus estimate of $146.36 million. Life Storage had a net margin of 43.67% and a return on equity of 12.00%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. On average, research analysts forecast that Life Storage Inc will post 5.71 EPS for the current year.
Life Storage Company Profile
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.
See Also: What is a stock portfolio tracker?
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.