State of New Jersey Common Pension Fund D reduced its position in Life Storage, Inc. (NYSE:LSI) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 119,500 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Life Storage were worth $8,855,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of LSI. PNC Financial Services Group Inc. increased its stake in Life Storage by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 124 shares during the period. Perigon Wealth Management LLC bought a new stake in Life Storage during the first quarter worth approximately $193,000. Creative Planning increased its stake in Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 60 shares during the period. Fox Run Management L.L.C. bought a new stake in Life Storage during the second quarter worth approximately $222,000. Finally, Paragon Capital Management Ltd bought a new stake in Life Storage during the second quarter worth approximately $232,000. 96.44% of the stock is owned by institutional investors and hedge funds.

Life Storage, Inc. (NYSE:LSI) opened at 73.62 on Friday. The company’s 50 day moving average is $73.46 and its 200-day moving average is $79.12. The stock has a market cap of $3.41 billion, a PE ratio of 64.41 and a beta of 0.56. Life Storage, Inc. has a 1-year low of $69.00 and a 1-year high of $95.05.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The company had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 earnings per share. Equities research analysts forecast that Life Storage, Inc. will post $2.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Monday, July 17th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s payout ratio is 347.83%.

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Several research analysts have recently weighed in on the stock. UBS Group AG reiterated a “neutral” rating and set a $75.00 price target (down previously from $80.00) on shares of Life Storage in a research note on Wednesday. FBR & Co set a $79.00 price target on shares of Life Storage and gave the stock a “hold” rating in a research note on Thursday, May 4th. Bank of America Corporation cut shares of Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research note on Tuesday, May 9th. ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $80.00 price target on shares of Life Storage in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Life Storage has an average rating of “Hold” and an average price target of $85.00.

Life Storage Company Profile

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

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