Life Storage, Inc. (NYSE:LSI) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its position in Life Storage, Inc. (NYSE:LSIGet Rating) by 11.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 268,659 shares of the real estate investment trust’s stock after acquiring an additional 28,015 shares during the period. Rhumbline Advisers’ holdings in Life Storage were worth $29,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LSI. State Street Corp increased its position in shares of Life Storage by 13.9% in the 1st quarter. State Street Corp now owns 4,499,491 shares of the real estate investment trust’s stock valued at $631,864,000 after acquiring an additional 547,484 shares during the period. Centersquare Investment Management LLC increased its position in shares of Life Storage by 18.5% in the 1st quarter. Centersquare Investment Management LLC now owns 2,478,966 shares of the real estate investment trust’s stock valued at $348,121,000 after acquiring an additional 386,710 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Life Storage by 66.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 815,960 shares of the real estate investment trust’s stock valued at $114,585,000 after acquiring an additional 325,597 shares during the period. Vanguard Group Inc. increased its position in shares of Life Storage by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 12,423,958 shares of the real estate investment trust’s stock valued at $1,744,696,000 after acquiring an additional 278,315 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in Life Storage by 40.0% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 958,420 shares of the real estate investment trust’s stock valued at $134,591,000 after purchasing an additional 273,712 shares during the last quarter. 91.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on LSI. UBS Group began coverage on shares of Life Storage in a report on Monday, October 17th. They issued a “neutral” rating and a $106.00 price target on the stock. StockNews.com began coverage on shares of Life Storage in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Truist Financial upped their price target on shares of Life Storage from $132.00 to $138.00 and gave the company a “hold” rating in a report on Monday, August 15th. Raymond James upped their price target on shares of Life Storage from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, August 16th. Finally, Citigroup increased their target price on shares of Life Storage to $154.00 in a research note on Monday, August 22nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $141.00.

Life Storage Trading Down 1.0 %

Shares of Life Storage stock opened at $106.24 on Thursday. The firm has a market capitalization of $9.03 billion, a PE ratio of 26.36, a P/E/G ratio of 4.57 and a beta of 0.62. Life Storage, Inc. has a twelve month low of $97.50 and a twelve month high of $154.45. The firm’s 50-day moving average price is $107.39 and its 200 day moving average price is $115.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90.

Life Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Friday, October 14th were issued a $1.08 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $4.32 dividend on an annualized basis and a yield of 4.07%. Life Storage’s payout ratio is 107.20%.

About Life Storage

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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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

See Also

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

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