Deutsche Bank AG Sells 10,687 Shares of Life Storage, Inc. (NYSE:LSI)

Deutsche Bank AG cut its holdings in shares of Life Storage, Inc. (NYSE:LSI) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,100,696 shares of the real estate investment trust’s stock after selling 10,687 shares during the quarter. Deutsche Bank AG’s holdings in Life Storage were worth $225,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LSI. BlackRock Inc. increased its holdings in shares of Life Storage by 57.8% during the first quarter. BlackRock Inc. now owns 8,886,354 shares of the real estate investment trust’s stock worth $763,784,000 after purchasing an additional 3,253,731 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Life Storage by 478.6% during the first quarter. JPMorgan Chase & Co. now owns 3,650,244 shares of the real estate investment trust’s stock worth $313,737,000 after purchasing an additional 3,019,421 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Life Storage by 53.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,709,568 shares of the real estate investment trust’s stock worth $232,888,000 after purchasing an additional 944,404 shares during the period. Centersquare Investment Management LLC increased its holdings in shares of Life Storage by 51.1% during the first quarter. Centersquare Investment Management LLC now owns 2,747,106 shares of the real estate investment trust’s stock worth $236,114,000 after purchasing an additional 928,960 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Life Storage by 56.0% during the first quarter. Geode Capital Management LLC now owns 1,267,305 shares of the real estate investment trust’s stock worth $108,924,000 after purchasing an additional 454,848 shares during the period. 94.40% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the stock. Raymond James lifted their price objective on shares of Life Storage from $89.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, August 10th. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Friday, August 13th. Citigroup lifted their price objective on shares of Life Storage from $122.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 16th. Truist boosted their target price on shares of Life Storage from $105.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, August 30th. Finally, KeyCorp boosted their target price on shares of Life Storage from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, August 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $117.59.

Shares of NYSE:LSI opened at $121.82 on Wednesday. The firm has a market cap of $9.99 billion, a PE ratio of 49.52, a price-to-earnings-growth ratio of 7.19 and a beta of 0.34. The firm’s fifty day moving average is $120.54 and its 200-day moving average is $105.37. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.41 and a current ratio of 0.41. Life Storage, Inc. has a 52 week low of $68.31 and a 52 week high of $129.87.

Life Storage (NYSE:LSI) last issued its quarterly earnings results on Tuesday, August 3rd. The real estate investment trust reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.41). Life Storage had a return on equity of 7.60% and a net margin of 26.92%. Sell-side analysts forecast that Life Storage, Inc. will post 4.82 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 26th. Investors of record on Wednesday, July 14th were issued a $0.74 dividend. The ex-dividend date of this dividend was Tuesday, July 13th. This represents a $2.96 annualized dividend and a yield of 2.43%. Life Storage’s payout ratio is 74.56%.

Life Storage Profile

Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

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

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