Pacer Advisors Inc. raised its holdings in Life Storage Inc (NYSE:LSI) by 36.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,674 shares of the real estate investment trust’s stock after purchasing an additional 7,347 shares during the period. Pacer Advisors Inc. owned 0.06% of Life Storage worth $2,628,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Aew Capital Management L P purchased a new position in shares of Life Storage during the first quarter valued at approximately $65,763,000. Cbre Clarion Securities LLC lifted its stake in shares of Life Storage by 269.3% during the first quarter. Cbre Clarion Securities LLC now owns 948,952 shares of the real estate investment trust’s stock valued at $89,723,000 after buying an additional 692,008 shares during the period. Norges Bank purchased a new position in shares of Life Storage during the fourth quarter valued at approximately $57,745,000. Macquarie Group Ltd. increased 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 worth $96,887,000 after purchasing an additional 197,056 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Life Storage by 118.1% during the first quarter. Nuveen Asset Management LLC now owns 265,515 shares of the real estate investment trust’s stock worth $25,105,000 after purchasing an additional 143,782 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.
In related news, Director David L. Rogers sold 14,111 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.00, for a total transaction of $1,269,990.00. Following the completion of the sale, the director now directly owns 104,903 shares of the company’s stock, valued at approximately $9,441,270. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.62). The business had revenue of $146.94 million during the quarter, compared to analyst estimates of $145.73 million. Life Storage had a return on equity of 12.33% and a net margin of 44.55%. Life Storage’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. On average, research analysts expect that Life Storage Inc will post 5.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Tuesday, July 14th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Monday, July 13th. Life Storage’s payout ratio is 76.16%.
Several equities analysts recently commented on LSI shares. Wells Fargo & Co dropped their price target on shares of Life Storage from $97.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, June 22nd. Raymond James lowered shares of Life Storage from an “outperform” rating to a “market perform” rating in a research report on Sunday, April 19th. Stifel Nicolaus upped their price target on shares of Life Storage from $96.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Zacks Investment Research lowered shares of Life Storage from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, SunTrust Banks dropped their price target on shares of Life Storage from $115.00 to $102.00 and set an “equal weight” rating for the company in a research report on Friday, April 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $109.09.
Life Storage Company 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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