Texas Permanent School Fund increased its position in Life Storage, Inc. (NYSE:LSI) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,947 shares of the real estate investment trust’s stock after buying an additional 289 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Life Storage worth $2,515,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in LSI. Daiwa Securities Group Inc. boosted its stake in Life Storage by 16.7% in the second quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 600 shares during the period. Janney Montgomery Scott LLC boosted its stake in Life Storage by 7.3% in the second quarter. Janney Montgomery Scott LLC now owns 6,115 shares of the real estate investment trust’s stock valued at $453,000 after buying an additional 416 shares during the period. Paragon Capital Management Ltd acquired a new stake in Life Storage during the second quarter valued at approximately $232,000. ING Groep NV acquired a new stake in Life Storage during the second quarter valued at approximately $419,000. Finally, Russell Investments Group Ltd. boosted its stake in Life Storage by 15.4% in the second quarter. Russell Investments Group Ltd. now owns 159,663 shares of the real estate investment trust’s stock valued at $11,840,000 after buying an additional 21,329 shares during the period. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Life Storage, Inc. (LSI) traded down 1.34% on Friday, reaching $71.59. The company had a trading volume of 595,407 shares. Life Storage, Inc. has a 52 week low of $69.00 and a 52 week high of $95.05. The company has a 50 day moving average of $72.81 and a 200-day moving average of $78.67. The company has a market capitalization of $3.32 billion, a P/E ratio of 62.63 and a beta of 0.56.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. Analysts predict that Life Storage, Inc. will post $1.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s dividend payout ratio (DPR) is currently 347.83%.
Several research firms recently commented on LSI. Jefferies Group LLC set a $72.00 price objective on Life Storage and gave the company a “hold” rating in a research report on Friday. Citigroup Inc. reissued a “buy” rating and issued a $85.00 target price (down from $98.00) on shares of Life Storage in a research report on Thursday, August 10th. UBS AG reissued a “neutral” rating and issued a $75.00 target price (down from $80.00) on shares of Life Storage in a research report on Wednesday, August 9th. Evercore ISI cut Life Storage from an “in-line” rating to an “underperform” rating and dropped their target price for the stock from $77.00 to $71.00 in a research report on Monday, August 7th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $78.00 price objective (down previously from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. Life Storage has a consensus rating of “Hold” and an average price target of $80.73.
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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