Schwab Charles Investment Management Inc. boosted its position in shares of Life Storage, Inc. (NYSE:LSI) by 12.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 472,985 shares of the real estate investment trust’s stock after purchasing an additional 51,394 shares during the quarter. Schwab Charles Investment Management Inc. owned 1.02% of Life Storage worth $35,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Independent Order of Foresters grew its holdings in Life Storage by 21.1% during 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 purchasing an additional 9,200 shares during the period. Retirement Systems of Alabama grew its holdings in Life Storage by 2.1% during 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 purchasing an additional 2,426 shares during the period. IFP Advisors Inc grew its holdings in Life Storage by 28.7% during 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 purchasing an additional 9,660 shares during the period. Anchor Capital Advisors LLC grew its holdings in Life Storage by 63.1% during 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 purchasing an additional 2,190 shares during the period. Finally, Foster & Motley Inc. grew its holdings in Life Storage by 5.6% during 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 purchasing an additional 1,695 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Shares of Life Storage, Inc. (NYSE:LSI) opened at 80.07 on Tuesday. The stock has a 50 day moving average of $73.98 and a 200-day moving average of $77.74. Life Storage, Inc. has a 12 month low of $69.00 and a 12 month high of $95.05. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 70.05 and a beta of 0.57.

Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the consensus estimate of $1.35 by $0.02. The company had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. On average, analysts forecast that Life Storage, Inc. will post $1.92 EPS for the current year.

A number of research analysts recently issued reports on LSI shares. Bank of America Corporation decreased their price objective on shares of Life Storage from $82.00 to $76.00 and set a “neutral” rating for the company in a report on Thursday, July 20th. ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. TheStreet lowered shares of Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $78.00 price target (down previously from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Life Storage presently has a consensus rating of “Hold” and a consensus price target of $78.64.

In other Life Storage news, CFO Andrew J. Gregoire purchased 1,500 shares of Life Storage stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $71.65 per share, with a total value of $107,475.00. Following the transaction, the chief financial officer now owns 48,173 shares in the company, valued at approximately $3,451,595.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul T. Powell purchased 700 shares of Life Storage stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average cost of $71.57 per share, with a total value of $50,099.00. Following the transaction, the insider now owns 44,996 shares in the company, valued at approximately $3,220,363.72. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 3,190 shares of company stock valued at $230,042. Insiders own 1.90% of the company’s stock.

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

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