Panagora Asset Management Inc. raised its stake in Life Storage Inc (NYSE:LSI) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,890 shares of the real estate investment trust’s stock after purchasing an additional 195 shares during the quarter. Panagora Asset Management Inc.’s holdings in Life Storage were worth $370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Life Storage in the 2nd quarter valued at $28,000. TRUE Private Wealth Advisors acquired a new position in shares of Life Storage during the 2nd quarter valued at $85,000. NumerixS Investment Technologies Inc acquired a new position in shares of Life Storage during the 1st quarter valued at $98,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Life Storage during the 1st quarter valued at $209,000. Finally, Amica Retiree Medical Trust acquired a new position in shares of Life Storage during the 1st quarter valued at $237,000. Institutional investors own 92.77% of the company’s stock.

Several equities analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Life Storage in a report on Monday, August 19th. They set a “hold” rating and a $106.00 target price on the stock. Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Raymond James upgraded shares of Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 target price on the stock in a report on Monday, July 8th. They noted that the move was a valuation call. Robert W. Baird raised shares of Life Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $92.00 to $101.00 in a research note on Wednesday, August 21st. Finally, Evercore ISI raised shares of Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price target on the stock in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Life Storage has an average rating of “Hold” and a consensus target price of $102.56.

In other news, COO Edward F. Killeen sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $105.06, for a total value of $157,590.00. Following the completion of the sale, the chief operating officer now owns 26,998 shares of the company’s stock, valued at approximately $2,836,409.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles E. Lannon sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $103.49, for a total transaction of $206,980.00. Following the completion of the sale, the director now directly owns 117,152 shares of the company’s stock, valued at approximately $12,124,060.48. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $679,690 in the last three months. Insiders own 0.80% of the company’s stock.

Life Storage stock traded down $0.27 during midday trading on Friday, hitting $103.64. 7,248 shares of the stock were exchanged, compared to its average volume of 379,304. Life Storage Inc has a 1 year low of $88.92 and a 1 year high of $106.43. The firm has a market cap of $4.82 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.68 and a beta of 0.35. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.63. The company has a 50 day moving average price of $102.46 and a two-hundred day moving average price of $98.17.

Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.54). The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $142.96 million. Life Storage had a return on equity of 10.21% and a net margin of 37.17%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. As a group, analysts predict that Life Storage Inc will post 5.59 EPS for the current year.

Life Storage 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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