Life Storage Inc (LSI) Stake Decreased by Retirement Systems of Alabama
Retirement Systems of Alabama decreased its holdings in Life Storage Inc (NYSE:LSI) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,792 shares of the real estate investment trust’s stock after selling 19,716 shares during the quarter. Retirement Systems of Alabama owned about 0.25% of Life Storage worth $11,555,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC purchased a new position in shares of Life Storage in the 4th quarter valued at about $42,000. Advisor Group Inc. grew its stake in shares of Life Storage by 68.8% during the fourth quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 190 shares in the last quarter. Clean Yield Group acquired a new position in shares of Life Storage during the fourth quarter worth $74,000. Pearl River Capital LLC acquired a new position in shares of Life Storage during the fourth quarter worth $74,000. Finally, Ffcm LLC grew its stake in shares of Life Storage by 137.6% during the fourth quarter. Ffcm LLC now owns 1,818 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 1,053 shares in the last quarter. 98.09% of the stock is owned by hedge funds and other institutional investors.
NYSE LSI opened at $94.22 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.26 and a quick ratio of 0.26. Life Storage Inc has a 1 year low of $84.78 and a 1 year high of $102.91. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 4.32 and a beta of 0.46.
In other Life Storage news, Director David L. Rogers sold 10,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $96.12, for a total value of $961,200.00. Following the completion of the transaction, the director now owns 120,000 shares in the company, valued at $11,534,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
A number of brokerages recently commented on LSI. Zacks Investment Research downgraded shares of Life Storage from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Bank of America downgraded shares of Life Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $105.00 to $99.00 in a research note on Friday, March 8th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Life Storage has a consensus rating of “Hold” and an average target price of $97.86.
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Life Storage Profile
Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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