Comerica Bank lessened its holdings in Life Storage Inc (NYSE:LSI) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,202 shares of the real estate investment trust’s stock after selling 1,124 shares during the quarter. Comerica Bank’s holdings in Life Storage were worth $3,335,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. US Bancorp DE increased its holdings in Life Storage by 4.7% in the 1st quarter. US Bancorp DE now owns 15,944 shares of the real estate investment trust’s stock valued at $1,332,000 after buying an additional 717 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Life Storage by 11.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,378 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 734 shares during the period. Daiwa Securities Group Inc. increased its holdings in Life Storage by 18.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the real estate investment trust’s stock valued at $493,000 after buying an additional 900 shares during the period. Intersect Capital LLC increased its holdings in Life Storage by 6.8% in the 2nd quarter. Intersect Capital LLC now owns 15,230 shares of the real estate investment trust’s stock valued at $1,482,000 after buying an additional 975 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in Life Storage by 333.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 1,000 shares during the period. 95.73% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the stock. DA Davidson boosted their price target on shares of Life Storage to $105.00 in a report on Friday, August 3rd. Citigroup boosted their target price on shares of Life Storage from $83.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, July 12th. BMO Capital Markets restated a “hold” rating and issued a $87.00 target price on shares of Life Storage in a research note on Wednesday, August 1st. Jefferies Financial Group set a $95.00 target price on shares of Life Storage and gave the company a “hold” rating in a research note on Tuesday, July 17th. Finally, ValuEngine upgraded shares of Life Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Life Storage currently has a consensus rating of “Hold” and a consensus price target of $88.64.

Shares of NYSE:LSI opened at $102.24 on Friday. Life Storage Inc has a 52 week low of $71.01 and a 52 week high of $102.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market capitalization of $4.53 billion, a PE ratio of 19.25, a PEG ratio of 3.97 and a beta of 0.44.

Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.50). Life Storage had a net margin of 24.04% and a return on equity of 6.53%. The firm had revenue of $138.00 million during the quarter, compared to analyst estimates of $135.97 million. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. sell-side analysts forecast that Life Storage Inc will post 5.44 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 26th. Investors of record on Monday, July 16th were given a dividend of $1.00 per share. The ex-dividend date was Friday, July 13th. This represents a $4.00 annualized dividend and a yield of 3.91%. Life Storage’s dividend payout ratio (DPR) is 75.33%.

In related news, President Kenneth F. Myszka sold 5,476 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $91.00, for a total transaction of $498,316.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

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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