Life Storage Inc (LSI) Position Boosted by Intersect Capital LLC

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Intersect Capital LLC increased its stake in Life Storage Inc (NYSE:LSI) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,415 shares of the real estate investment trust’s stock after acquiring an additional 185 shares during the quarter. Intersect Capital LLC’s holdings in Life Storage were worth $1,433,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in Life Storage by 1.1% in the fourth quarter. Arizona State Retirement System now owns 33,447 shares of the real estate investment trust’s stock valued at $3,110,000 after buying an additional 359 shares during the period. State of Alaska Department of Revenue lifted its stake in Life Storage by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 19,947 shares of the real estate investment trust’s stock valued at $1,853,000 after buying an additional 376 shares during the period. Naples Global Advisors LLC lifted its stake in Life Storage by 14.3% in the fourth quarter. Naples Global Advisors LLC now owns 3,635 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 455 shares during the period. LS Investment Advisors LLC lifted its stake in Life Storage by 19.3% in the fourth quarter. LS Investment Advisors LLC now owns 3,030 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 490 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Life Storage by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 29,030 shares of the real estate investment trust’s stock valued at $2,762,000 after buying an additional 540 shares during the period. 99.70% of the stock is currently owned by institutional investors.

Shares of NYSE:LSI opened at $100.60 on Tuesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.87. Life Storage Inc has a twelve month low of $76.42 and a twelve month high of $102.91. The company has a market cap of $4.73 billion, a PE ratio of 19.08, a PEG ratio of 4.50 and a beta of 0.51.

The company also recently announced a quarterly dividend, which was paid on Monday, January 28th. Stockholders of record on Tuesday, January 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Monday, January 14th. Life Storage’s payout ratio is 75.33%.

In other news, COO Edward F. Killeen sold 4,006 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $101.10, for a total transaction of $405,006.60. Following the transaction, the chief operating officer now directly owns 24,763 shares of the company’s stock, valued at $2,503,539.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur L. Havener, Jr. sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $99.00, for a total value of $64,350.00. The disclosure for this sale can be found here. Insiders have sold 5,962 shares of company stock worth $602,556 over the last ninety days. 1.80% of the stock is owned by insiders.

LSI has been the topic of several recent analyst reports. ValuEngine raised Life Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Finally, Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating in a research note on Tuesday, December 18th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $93.33.

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About Life Storage

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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.

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Institutional Ownership by Quarter for Life Storage (NYSE:LSI)

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