Life Storage, Inc. (LSI) Stake Increased by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. grew its stake in Life Storage, Inc. (NYSE:LSI) by 21.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,766 shares of the real estate investment trust’s stock after acquiring an additional 13,453 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.17% of Life Storage worth $5,688,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake 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 valued at $116,000 after acquiring 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 valued at about $193,000. Fox Run Management L.L.C. bought a new stake in shares of Life Storage in the 2nd quarter valued at about $222,000. World Asset Management Inc increased its stake 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 valued at $257,000 after acquiring an additional 308 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in shares of Life Storage in the 2nd quarter valued at about $232,000. 99.62% of the stock is owned by institutional investors.
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A number of brokerages have recently commented on LSI. ValuEngine cut Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BMO Capital Markets reaffirmed a “sell” rating and issued a $73.00 price target on shares of Life Storage in a research note on Monday. FBR & Co cut Life Storage from a “neutral” rating to a “sell” rating and set a $70.00 price target for the company. in a research note on Tuesday. TheStreet cut Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price target on shares of Life Storage in a research note on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $77.82.
Life Storage, Inc. (NYSE:LSI) opened at 80.07 on Tuesday. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 70.05 and a beta of 0.57. Life Storage, Inc. has a 12 month low of $69.00 and a 12 month high of $95.05. The company has a 50 day moving average price of $73.98 and a 200 day moving average price of $77.74.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. The business had revenue of $132.78 million during the quarter, compared to the consensus estimate 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 for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Analysts anticipate that Life Storage, Inc. will post $1.92 earnings per share for the current fiscal year.
In other Life Storage news, CFO Andrew J. Gregoire bought 1,500 shares of the stock in a transaction on Monday, August 21st. The stock was acquired at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the completion of the acquisition, the chief financial officer now owns 48,173 shares in the company, valued at approximately $3,451,595.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul T. Powell bought 700 shares of the stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $71.57 per share, with a total value of $50,099.00. Following the completion of the acquisition, the insider now owns 44,996 shares of the company’s stock, valued at approximately $3,220,363.72. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 3,190 shares of company stock valued at $230,042. 1.90% of the stock is currently owned by corporate insiders.
Life Storage Company 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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