Arizona State Retirement System Purchases 300 Shares of Life Storage, Inc. (LSI)
Arizona State Retirement System boosted its stake in Life Storage, Inc. (NYSE:LSI) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,600 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in Life Storage were worth $1,452,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Life Storage by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 124 shares during the period. Perigon Wealth Management LLC bought a new position in shares of Life Storage during the first quarter valued at approximately $193,000. Creative Planning boosted its position in shares of Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 60 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Life Storage during the second quarter valued at approximately $222,000. Finally, World Asset Management Inc boosted its position in shares of Life Storage by 10.9% in the first quarter. World Asset Management Inc now owns 3,130 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 308 shares during the period. 96.56% of the stock is owned by institutional investors.
Shares of Life Storage, Inc. (LSI) opened at 73.48 on Friday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 64.29 and a beta of 0.56. Life Storage, Inc. has a 1-year low of $69.00 and a 1-year high of $95.05. The firm has a 50-day moving average price of $72.90 and a 200 day moving average price of $78.39.
Life Storage (NYSE:LSI) last issued 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. The business had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. On average, analysts predict that Life Storage, Inc. will post $1.92 EPS for the current fiscal year.
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Several brokerages recently commented on LSI. UBS AG reissued a “neutral” rating and set a $75.00 price target (down from $80.00) on shares of Life Storage in a research report on Wednesday, August 9th. Evercore ISI cut Life Storage from an “in-line” rating to an “underperform” rating and reduced their price target for the company from $77.00 to $71.00 in a research report on Monday, August 7th. Citigroup Inc. reissued a “buy” rating and set a $85.00 price target (down from $98.00) on shares of Life Storage in a research report on Thursday, August 10th. Jefferies Group LLC set a $72.00 price target on Life Storage and gave the company a “hold” rating in a research report on Friday, August 18th. Finally, Zacks Investment Research cut Life Storage from a “hold” rating to a “sell” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $80.73.
In other Life Storage news, insider Paul T. Powell purchased 700 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $71.57 per share, for a total transaction of $50,099.00. Following the purchase, the insider now directly owns 44,996 shares of the company’s stock, valued at approximately $3,220,363.72. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arthur L. Havener, Jr. purchased 990 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $73.20 per share, for a total transaction of $72,468.00. Following the purchase, the director now directly owns 7,413 shares in the company, valued at $542,631.60. The disclosure for this purchase can be found here. Insiders have bought a total of 3,190 shares of company stock worth $230,042 in the last quarter. Corporate insiders own 1.90% of the company’s stock.
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.
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