Hancock Whitney Corp boosted its stake in shares of Life Storage Inc (NYSE:LSI) by 8.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 22,273 shares of the real estate investment trust’s stock after buying an additional 1,677 shares during the quarter. Hancock Whitney Corp’s holdings in Life Storage were worth $2,106,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. lifted its position in Life Storage by 28.2% during the fourth quarter. Macquarie Group Ltd. now owns 894,788 shares of the real estate investment trust’s stock valued at $96,887,000 after purchasing an additional 197,056 shares in the last quarter. Geode Capital Management LLC lifted its position in Life Storage by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 784,080 shares of the real estate investment trust’s stock valued at $84,900,000 after purchasing an additional 22,440 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Life Storage by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 781,214 shares of the real estate investment trust’s stock valued at $84,590,000 after purchasing an additional 17,650 shares in the last quarter. Aew Capital Management L P purchased a new position in Life Storage during the first quarter valued at $65,763,000. Finally, Bank of New York Mellon Corp lifted its position in Life Storage by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 670,863 shares of the real estate investment trust’s stock valued at $63,429,000 after purchasing an additional 20,488 shares in the last quarter. Institutional investors own 91.19% of the company’s stock.
NYSE:LSI opened at $89.85 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $4.18 billion, a P/E ratio of 15.59, a P/E/G ratio of 3.91 and a beta of 0.38. Life Storage Inc has a 12 month low of $67.31 and a 12 month high of $119.61. The business’s 50-day moving average is $90.75 and its 200 day moving average is $103.55.
The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Tuesday, April 14th were given a $1.07 dividend. The ex-dividend date of this dividend was Monday, April 13th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.76%. Life Storage’s dividend payout ratio is currently 76.16%.
In related news, Director Edward J. Pettinella acquired 3,260 shares of Life Storage stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $79.08 per share, with a total value of $257,800.80. Following the completion of the purchase, the director now directly owns 12,200 shares of the company’s stock, valued at approximately $964,776. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark G. Barberio acquired 1,000 shares of Life Storage stock in a transaction on Monday, March 16th. The shares were bought at an average cost of $87.55 per share, for a total transaction of $87,550.00. Following the completion of the purchase, the director now directly owns 2,913 shares of the company’s stock, valued at $255,033.15. The disclosure for this purchase can be found here. Insiders purchased 11,680 shares of company stock worth $1,087,573 over the last quarter. 0.90% of the stock is owned by company insiders.
Several brokerages have recently commented on LSI. Stifel Nicolaus lowered their price objective on Life Storage from $128.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. KeyCorp lowered their price objective on Life Storage from $114.00 to $106.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. SunTrust Banks lowered their price objective on Life Storage from $115.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, April 17th. Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Robert W. Baird boosted their price objective on Life Storage from $101.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Life Storage presently has a consensus rating of “Buy” and an average price target of $106.70.
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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