New Mexico Educational Retirement Board continued to hold its position in shares of Life Storage Inc (NYSE:LSI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,481 shares of the real estate investment trust’s stock at the end of the second quarter. New Mexico Educational Retirement Board’s holdings in Life Storage were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LSI. Independent Order of Foresters raised its position in shares of Life Storage by 21.1% in the second quarter. Independent Order of Foresters now owns 52,776 shares of the real estate investment trust’s stock valued at $3,911,000 after buying an additional 9,200 shares during the period. Retirement Systems of Alabama raised its position in shares of Life Storage by 2.1% in the second quarter. Retirement Systems of Alabama now owns 119,628 shares of the real estate investment trust’s stock valued at $8,864,000 after buying an additional 2,426 shares during the period. IFP Advisors Inc raised its position in shares of Life Storage by 28.7% in the second quarter. IFP Advisors Inc now owns 43,333 shares of the real estate investment trust’s stock valued at $3,211,000 after buying an additional 9,660 shares during the period. Anchor Capital Advisors LLC raised its position in shares of Life Storage by 63.1% in the second quarter. Anchor Capital Advisors LLC now owns 5,660 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 2,190 shares during the period. Finally, Foster & Motley Inc. raised its position in shares of Life Storage by 5.6% in the second quarter. Foster & Motley Inc. now owns 32,050 shares of the real estate investment trust’s stock valued at $2,375,000 after buying an additional 1,695 shares during the period. 96.56% of the stock is currently owned by hedge funds and other institutional investors.

Life Storage Inc (NYSE:LSI) opened at 72.56 on Friday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 63.48 and a beta of 0.56. Life Storage Inc has a 12 month low of $69.00 and a 12 month high of $95.05. The stock’s 50 day moving average price is $72.90 and its 200-day moving average price is $78.74.

Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Life Storage had a net margin of 14.63% and a return on equity of 3.76%. The firm had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities analysts anticipate that Life Storage Inc will post $1.87 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, July 13th. This represents a $4.00 annualized dividend and a dividend yield of 5.51%. Life Storage’s dividend payout ratio is presently 347.83%.

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Several equities analysts have issued reports on the company. Citigroup Inc. reissued a “buy” rating and issued a $85.00 price target (down from $98.00) on shares of Life Storage in a research note on Thursday, August 10th. UBS AG reissued a “neutral” rating and issued a $75.00 price target (down from $80.00) on shares of Life Storage in a research note on Wednesday, August 9th. Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating and dropped their price target for the company from $77.00 to $71.00 in a research note on Monday, August 7th. Wells Fargo & Company reissued a “market perform” rating and issued a $78.00 price target (down from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. Finally, Bank of America Corporation dropped their price target on Life Storage from $82.00 to $76.00 and set a “neutral” rating on the stock in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $81.45.

About Life Storage

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.

Institutional Ownership by Quarter for Life Storage (NYSE:LSI)

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