People s United Financial Inc. maintained its position in shares of Life Storage, Inc. (NYSE:LSI) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,365 shares of the real estate investment trust’s stock at the close of the second quarter. People s United Financial Inc.’s holdings in Life Storage were worth $1,139,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LSI. BlackRock Inc. raised its position in shares of 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 acquiring an additional 4,860,192 shares during the period. Eii Capital Management Inc. boosted its stake in Life Storage by 1.4% during the 2nd quarter. Eii Capital Management Inc. now owns 59,500 shares of the real estate investment trust’s stock worth $4,409,000 after acquiring an additional 800 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Life Storage by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 614,266 shares of the real estate investment trust’s stock worth $45,518,000 after acquiring an additional 11,699 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Life Storage by 19.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,017 shares of the real estate investment trust’s stock worth $2,372,000 after acquiring an additional 5,316 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Life Storage by 11.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 60,085 shares of the real estate investment trust’s stock worth $4,452,000 after acquiring an additional 6,042 shares during the last quarter. Institutional investors own 96.83% of the company’s stock.

In related news, Director Arthur L. Havener, Jr. purchased 990 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $73.20 per share, for a total transaction of $72,468.00. Following the completion of the acquisition, the director now owns 7,413 shares of the company’s stock, valued at approximately $542,631.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul T. Powell purchased 700 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average price of $71.57 per share, with a total value of $50,099.00. Following the acquisition, the insider now directly 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. Insiders have acquired a total of 3,190 shares of company stock valued at $230,042 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Life Storage, Inc. (NYSE LSI) traded down 0.33% during trading on Tuesday, hitting $81.13. 9,787 shares of the stock were exchanged. The firm’s 50-day moving average is $77.44 and its 200 day moving average is $77.16. The firm has a market cap of $3.76 billion, a PE ratio of 70.98 and a beta of 0.58. Life Storage, Inc. has a 52 week low of $69.00 and a 52 week high of $89.24.

Life Storage (NYSE:LSI) last posted its earnings results 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). Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. Analysts expect that Life Storage, Inc. will post $1.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Friday, October 13th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.91%. Life Storage’s dividend payout ratio is currently 347.83%.

Life Storage announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Several brokerages have commented on LSI. UBS AG reaffirmed a “neutral” rating and issued a $75.00 target price (down previously from $80.00) on shares of Life Storage in a research note on Wednesday, August 9th. Evercore ISI reiterated an “underperform” rating and issued a $76.00 target price (up from $71.00) on shares of Life Storage in a report on Thursday, September 14th. Zacks Investment Research cut shares of Life Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Cantor Fitzgerald reissued a “hold” rating and issued a $73.00 price target on shares of Life Storage in a report on Thursday, September 14th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price target on shares of Life Storage in a report on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.91.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/03/life-storage-inc-lsi-position-held-by-people-s-united-financial-inc.html.

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.

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

Receive News & Stock Ratings for Life Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage Inc. and related stocks with our FREE daily email newsletter.