Life Storage, Inc. (LSI) Shares Bought by Kempen Capital Management N.V.
Kempen Capital Management N.V. boosted its stake in Life Storage, Inc. (NYSE:LSI) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 313,000 shares of the real estate investment trust’s stock after buying an additional 26,150 shares during the period. Life Storage makes up approximately 2.2% of Kempen Capital Management N.V.’s portfolio, making the stock its 22nd biggest position. Kempen Capital Management N.V. owned about 0.67% of Life Storage worth $23,193,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Life Storage by 5,546.9% in the 1st quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock valued at $406,317,000 after buying an additional 4,860,192 shares during the period. Sei Investments Co. raised its holdings in Life Storage by 17.6% in the 1st quarter. Sei Investments Co. now owns 57,920 shares of the real estate investment trust’s stock valued at $4,756,000 after buying an additional 8,684 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Life Storage by 19.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,017 shares of the real estate investment trust’s stock valued at $2,372,000 after buying an additional 5,316 shares during the period. Eii Capital Management Inc. raised its holdings in Life Storage by 1.4% in the 2nd quarter. Eii Capital Management Inc. now owns 59,500 shares of the real estate investment trust’s stock valued at $4,409,000 after buying an additional 800 shares during the period. Finally, World Asset Management Inc raised its holdings in 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 buying an additional 308 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.
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Several analysts recently issued reports on the stock. Evercore ISI restated an “underperform” rating and issued a $76.00 price objective (up from $71.00) on shares of Life Storage in a report on Thursday. Cantor Fitzgerald restated a “hold” rating and issued a $73.00 price objective on shares of Life Storage in a report on Thursday. BMO Capital Markets assumed coverage on shares of Life Storage in a report on Monday, September 11th. They issued an “underperform” rating and a $73.00 price objective on the stock. FBR & Co lowered shares of Life Storage from a “neutral” rating to a “sell” rating and set a $70.00 price objective on the stock. in a report on Tuesday, September 12th. Finally, Zacks Investment Research upgraded shares of Life Storage from a “sell” rating to a “hold” rating in a report on Wednesday, May 24th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Life Storage has a consensus rating of “Hold” and an average target price of $77.82.
In other news, insider Paul T. Powell acquired 700 shares of Life Storage stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $71.57 per share, with a total value 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 can be accessed through this link. Also, Director Arthur L. Havener, Jr. acquired 990 shares of Life Storage stock in a transaction dated Monday, August 21st. The stock was 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 directly owns 7,413 shares in the company, valued at $542,631.60. The disclosure for this purchase can be found here. Insiders bought a total of 3,190 shares of company stock worth $230,042 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.
Shares of Life Storage, Inc. (NYSE:LSI) traded up 0.55% during mid-day trading on Friday, reaching $80.60. 671,044 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $74.76 and a 200 day moving average price of $77.65. Life Storage, Inc. has a 52 week low of $69.00 and a 52 week high of $95.05. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 70.52 and a beta of 0.57.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.02). The firm had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities research analysts predict that Life Storage, Inc. will post $1.91 EPS for the current year.
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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