Life Storage, Inc. (LSI) Position Increased by Swiss National Bank
Swiss National Bank boosted its stake in Life Storage, Inc. (NYSE:LSI) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,855 shares of the real estate investment trust’s stock after buying an additional 1,100 shares during the quarter. Swiss National Bank owned approximately 0.17% of Life Storage worth $5,769,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Life Storage by 5,546.9% in the 1st quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock valued at $406,317,000 after buying an additional 4,860,192 shares in the last quarter. Sei Investments Co. boosted its stake in Life Storage by 17.6% in the 1st quarter. Sei Investments Co. now owns 57,920 shares of the real estate investment trust’s stock valued at $4,756,000 after buying an additional 8,684 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Life Storage by 19.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,017 shares of the real estate investment trust’s stock valued at $2,372,000 after buying an additional 5,316 shares in the last quarter. Eii Capital Management Inc. boosted its stake in Life Storage by 1.4% in the 2nd quarter. Eii Capital Management Inc. now owns 59,500 shares of the real estate investment trust’s stock valued at $4,409,000 after buying an additional 800 shares in the last quarter. Finally, World Asset Management Inc boosted its stake in Life Storage by 10.9% in the 1st quarter. World Asset Management Inc now owns 3,130 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 308 shares in the last quarter. 96.83% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. UBS AG reaffirmed a “neutral” rating and issued a $75.00 price target (down previously from $80.00) on shares of Life Storage in a research note on Wednesday, August 9th. Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the stock from $77.00 to $71.00 in a research note on Monday, August 7th. Cantor Fitzgerald reissued a “hold” rating and issued a $73.00 price objective on shares of Life Storage in a research note on Thursday, September 14th. Citigroup Inc. reissued a “buy” rating and issued a $85.00 price objective (down previously from $98.00) on shares of Life Storage in a research note on Thursday, August 10th. Finally, FBR & Co lowered Life Storage from a “neutral” rating to a “sell” rating and set a $70.00 price objective on the stock. in a research note on Tuesday, September 12th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Life Storage has an average rating of “Hold” and a consensus price target of $77.82.
Life Storage, Inc. (NYSE:LSI) opened at 81.17 on Tuesday. The firm has a market capitalization of $3.76 billion, a PE ratio of 71.01 and a beta of 0.57. Life Storage, Inc. has a 12 month low of $69.00 and a 12 month high of $95.05. The company’s 50-day moving average price is $74.99 and its 200 day moving average price is $77.43.
Life Storage (NYSE:LSI) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). The company had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, equities research analysts predict that Life Storage, Inc. will post $1.91 earnings per share for the current year.
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In related news, insider Paul T. Powell acquired 700 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $71.57 per share, with a total value of $50,099.00. Following the acquisition, the insider now owns 44,996 shares of the company’s stock, valued at approximately $3,220,363.72. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arthur L. Havener, Jr. acquired 990 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $73.20 per share, with a total value of $72,468.00. Following the completion of the acquisition, the director now directly owns 7,413 shares in the company, valued at approximately $542,631.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,190 shares of company stock valued at $230,042 over the last three months. Corporate insiders own 1.90% of the company’s stock.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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