First Trust Advisors LP lowered its holdings in shares of Life Storage Inc (NYSE:LSI) by 92.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,831 shares of the real estate investment trust’s stock after selling 112,705 shares during the period. First Trust Advisors LP’s holdings in Life Storage were worth $821,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Clean Yield Group bought a new stake in Life Storage during the fourth quarter worth about $74,000. MML Investors Services LLC bought a new stake in Life Storage during the third quarter worth about $222,000. LS Investment Advisors LLC boosted its stake in Life Storage by 19.3% during the fourth quarter. LS Investment Advisors LLC now owns 3,030 shares of the real estate investment trust’s stock worth $282,000 after acquiring an additional 490 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Life Storage by 4.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 3,223 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 130 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Life Storage by 44.1% during the third quarter. Neuberger Berman Group LLC now owns 3,406 shares of the real estate investment trust’s stock worth $324,000 after acquiring an additional 1,043 shares in the last quarter. 98.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of Life Storage stock opened at $97.87 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 4.50 and a beta of 0.46. Life Storage Inc has a 52-week low of $82.65 and a 52-week high of $102.91.

LSI has been the subject of several recent analyst reports. Evercore ISI cut shares of Life Storage from an “in-line” rating to an “underperform” rating in a report on Tuesday, December 18th. They noted that the move was a valuation call. Bank of America set a $105.00 target price on shares of Life Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Zacks Investment Research cut shares of Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $97.86.

In other Life Storage news, Director David L. Rogers sold 10,000 shares of Life Storage stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $96.12, for a total value of $961,200.00. Following the completion of the transaction, the director now directly owns 120,000 shares of the company’s stock, valued at $11,534,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

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

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