Life Storage, Inc. (LSI) Shares Sold by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board reduced its stake in shares of Life Storage, Inc. (NYSE:LSI) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the real estate investment trust’s stock after selling 800 shares during the period. Canada Pension Plan Investment Board’s holdings in Life Storage were worth $534,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake 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 last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Life Storage during the first quarter valued at approximately $193,000. Creative Planning raised its stake 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 last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Life Storage during the second quarter valued at approximately $222,000. Finally, Paragon Capital Management Ltd acquired a new stake in shares of Life Storage during the second quarter valued at approximately $232,000. 99.62% of the stock is currently owned by institutional investors.
Life Storage, Inc. (LSI) opened at 73.74 on Thursday. Life Storage, Inc. has a 1-year low of $69.00 and a 1-year high of $95.05. The firm’s 50-day moving average price is $72.90 and its 200-day moving average price is $78.39. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 64.51 and a beta of 0.56.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by $0.02. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The firm had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. During the same period last year, the firm earned $1.32 earnings per share. Life Storage’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts anticipate that Life Storage, Inc. will post $1.92 earnings per share for the current year.
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Several brokerages have commented on LSI. UBS AG reissued a “neutral” rating and issued a $75.00 price objective (down from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. FBR & Co set a $79.00 price target on Life Storage and gave the stock a “hold” rating in a research note on Thursday, May 4th. Bank of America Corporation lowered Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research note on Tuesday, May 9th. ValuEngine lowered Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered Life Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $80.73.
In other news, CFO Andrew J. Gregoire bought 1,500 shares of the business’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $71.65 per share, with a total value of $107,475.00. Following the purchase, the chief financial officer now directly owns 48,173 shares in the company, valued at $3,451,595.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arthur L. Havener, Jr. bought 990 shares of the business’s stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $73.20 per share, for a total transaction of $72,468.00. Following the completion of the purchase, the director now owns 7,413 shares in the company, valued at $542,631.60. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,190 shares of company stock worth $230,042. Company 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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