South Dakota Investment Council Buys 3,000 Shares of Life Storage, Inc. (LSI)
South Dakota Investment Council increased its stake in shares of Life Storage, Inc. (NYSE:LSI) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,200 shares of the real estate investment trust’s stock after acquiring an additional 3,000 shares during the quarter. South Dakota Investment Council owned approximately 0.14% of Life Storage worth $4,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of Life Storage by 9.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 124 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Life Storage in the 1st quarter worth approximately $193,000. Fox Run Management L.L.C. bought a new stake in shares of Life Storage in the 2nd quarter worth approximately $222,000. Paragon Capital Management Ltd bought a new stake in shares of Life Storage in the 2nd quarter worth approximately $232,000. Finally, World Asset Management Inc grew its position in shares of Life Storage by 10.9% in the 1st quarter. World Asset Management Inc now owns 3,130 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 308 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.
A number of brokerages have recently weighed in on LSI. Zacks Investment Research upgraded Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, May 24th. TheStreet lowered Life Storage from a “b-” rating to a “c+” rating in a research report on Monday, June 19th. ValuEngine lowered Life Storage from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cantor Fitzgerald lowered Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Monday, May 15th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $92.00 price objective (down from $100.00) on shares of Life Storage in a research report on Sunday, May 14th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $80.73.
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Life Storage, Inc. (NYSE:LSI) traded up 1.03% on Friday, hitting $82.45. The stock had a trading volume of 1,520,065 shares. The stock’s 50-day moving average is $73.99 and its 200 day moving average is $77.94. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 72.13 and a beta of 0.57. Life Storage, Inc. has a 1-year low of $69.00 and a 1-year high of $95.05.
Life Storage (NYSE:LSI) last announced its quarterly earnings data 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 return on equity of 2.56% and a net margin of 10.28%. The firm had revenue of $132.78 million during the quarter, compared to the consensus estimate of $132.62 million. During the same period last year, the company earned $1.32 EPS. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts predict that Life Storage, Inc. will post $1.92 earnings per share for the current fiscal year.
In other news, Director Arthur L. Havener, Jr. acquired 990 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average price of $73.20 per share, with a total value of $72,468.00. Following the completion of the purchase, the director now directly owns 7,413 shares in the company, valued at $542,631.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew J. Gregoire acquired 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the purchase, the chief financial officer now owns 48,173 shares of the company’s stock, valued at $3,451,595.45. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,190 shares of company stock worth $230,042. 1.90% of the stock is owned by insiders.
Life Storage Profile
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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