New Mexico Educational Retirement Board lessened its stake in shares of Life Storage Inc (NYSE:LSI) by 13.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,100 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Life Storage were worth $770,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC bought a new position in shares of Life Storage in the 2nd quarter valued at $28,000. Centersquare Investment Management LLC increased its stake in shares of Life Storage by 194.2% in the 1st quarter. Centersquare Investment Management LLC now owns 606 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 400 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Life Storage in the 2nd quarter valued at $85,000. Quadrant Capital Group LLC increased its stake in shares of Life Storage by 867.0% in the 1st quarter. Quadrant Capital Group LLC now owns 938 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 841 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Life Storage in the 1st quarter valued at $98,000. Hedge funds and other institutional investors own 99.45% of the company’s stock.
LSI has been the topic of several recent analyst reports. Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. KeyCorp boosted their price objective on Life Storage from $106.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus started coverage on Life Storage in a research report on Monday, August 19th. They set a “hold” rating and a $106.00 price objective on the stock. Robert W. Baird upgraded Life Storage from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $92.00 to $101.00 in a research report on Wednesday, August 21st. Finally, Evercore ISI upgraded Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price objective on the stock in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Life Storage currently has an average rating of “Hold” and a consensus target price of $102.56.
LSI stock traded up $0.13 during midday trading on Wednesday, reaching $104.80. 65 shares of the stock were exchanged, compared to its average volume of 387,724. The stock has a market capitalization of $4.85 billion, a PE ratio of 19.04, a P/E/G ratio of 4.71 and a beta of 0.37. Life Storage Inc has a 52 week low of $88.92 and a 52 week high of $106.12. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.63. The company has a fifty day moving average price of $100.81 and a 200 day moving average price of $97.79.
Life Storage (NYSE:LSI) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.54). The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $142.96 million. Life Storage had a return on equity of 10.21% and a net margin of 37.17%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. As a group, analysts anticipate that Life Storage Inc will post 5.59 earnings per share for the current fiscal year.
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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