Daiwa Securities Group Inc. raised its stake in shares of Life Storage Inc (NYSE:LSI) by 28.6% during the first quarter, Holdings Channel reports. The fund owned 3,600 shares of the real estate investment trust’s stock after buying an additional 800 shares during the period. Daiwa Securities Group Inc.’s holdings in Life Storage were worth $296,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Keybank National Association OH raised its position in Life Storage by 0.4% in the fourth quarter. Keybank National Association OH now owns 10,041 shares of the real estate investment trust’s stock valued at $856,000 after buying an additional 41 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Life Storage by 0.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 9,795 shares of the real estate investment trust’s stock valued at $835,000 after buying an additional 55 shares during the last quarter. Creative Planning raised its position in Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 60 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Life Storage by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the real estate investment trust’s stock valued at $961,000 after buying an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Life Storage by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,269 shares of the real estate investment trust’s stock valued at $1,336,000 after buying an additional 200 shares during the last quarter. 90.72% of the stock is currently owned by hedge funds and other institutional investors.
Life Storage Inc (NYSE:LSI) traded up 0.15% during mid-day trading on Friday, hitting $74.67. The stock had a trading volume of 85,925 shares. The company has a market capitalization of $3.46 billion, a P/E ratio of 43.82 and a beta of 0.54. Life Storage Inc has a 52 week low of $72.08 and a 52 week high of $109.89. The stock’s 50-day moving average is $80.43 and its 200 day moving average is $82.59.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.01. Life Storage had a net margin of 22.63% and a return on equity of 5.62%. The firm had revenue of $128.30 million during the quarter, compared to analyst estimates of $128.19 million. Life Storage’s revenue for the quarter was up 29.5% on a year-over-year basis. Equities analysts forecast that Life Storage Inc will post $2.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Tuesday, April 18th were paid a $1.00 dividend. This is an increase from Life Storage’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, April 13th. This represents a $4.00 annualized dividend and a dividend yield of 5.36%. Life Storage’s dividend payout ratio (DPR) is currently 152.61%.
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Several research analysts recently weighed in on the company. Citigroup Inc reissued a “buy” rating and set a $92.00 price target (down from $100.00) on shares of Life Storage in a research report on Sunday, May 14th. FBR & Co set a $79.00 target price on Life Storage and gave the company a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research downgraded Life Storage from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. Cantor Fitzgerald downgraded Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Friday, May 5th. Finally, Bank of America Corp downgraded Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 target price on the stock. in a research note on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $94.00.
In related news, insider Paul T. Powell acquired 700 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was bought at an average price of $73.04 per share, for a total transaction of $51,128.00. Following the acquisition, the insider now directly owns 44,296 shares of the company’s stock, valued at $3,235,379.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark G. Barberio acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was bought at an average price of $82.97 per share, with a total value of $82,970.00. Following the acquisition, the director now directly owns 815 shares in the company, valued at $67,620.55. The disclosure for this purchase can be found here. Insiders bought a total of 2,000 shares of company stock valued at $156,403 in the last 90 days. 2.30% of the stock is owned by corporate insiders.
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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