Profund Advisors LLC cut its holdings in Life Storage, Inc. (NYSE:LSI) by 26.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,734 shares of the real estate investment trust’s stock after selling 2,377 shares during the quarter. Profund Advisors LLC’s holdings in Life Storage were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Anchor Capital Advisors LLC lifted its position in Life Storage by 1.5% in the 1st quarter. Anchor Capital Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 50 shares in the last quarter. Utah Retirement Systems lifted its position in Life Storage by 1.1% in the 1st quarter. Utah Retirement Systems now owns 9,596 shares of the real estate investment trust’s stock valued at $788,000 after acquiring an additional 100 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Life Storage by 9.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 124 shares in the last quarter. Advantus Capital Management Inc lifted its position in Life Storage by 3.2% in the 1st quarter. Advantus Capital Management Inc now owns 5,952 shares of the real estate investment trust’s stock valued at $489,000 after acquiring an additional 186 shares in the last quarter. Finally, Capstone Asset Management Co. lifted its position in Life Storage by 3.5% in the 2nd quarter. Capstone Asset Management Co. now owns 5,673 shares of the real estate investment trust’s stock valued at $420,000 after acquiring an additional 190 shares in the last quarter. 96.83% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Life Storage, Inc. (NYSE LSI) opened at 81.81 on Friday. Life Storage, Inc. has a 1-year low of $69.00 and a 1-year high of $95.05. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 71.57 and a beta of 0.57. The stock has a 50 day moving average price of $75.22 and a 200 day moving average price of $77.38.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.02). Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was up 24.1% on a year-over-year basis. Equities research analysts anticipate that Life Storage, Inc. will post $1.91 EPS for the current year.

Life Storage declared that its board has initiated a share repurchase plan on Wednesday, August 2nd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Several equities analysts recently issued reports on the company. BidaskClub raised Life Storage from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Bank of America Corporation cut Life Storage from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $73.00 to $77.00 in a research report on Monday, September 25th. Evercore ISI reaffirmed an “underperform” rating and issued a $76.00 price objective (up from $71.00) on shares of Life Storage in a research report on Thursday, September 14th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Life Storage in a research report on Thursday, September 14th. Finally, BMO Capital Markets initiated coverage on Life Storage in a research report on Monday, September 11th. They issued an “underperform” rating and a $73.00 price objective on the stock. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.91.

In related news, insider Paul T. Powell acquired 700 shares of the stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the completion of the purchase, 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 available through this link. Also, CFO Andrew J. Gregoire acquired 1,500 shares of the stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $71.65 per share, with a total value of $107,475.00. Following the completion of the purchase, the chief financial officer now directly owns 48,173 shares of the company’s stock, valued at approximately $3,451,595.45. The disclosure for this purchase can be found here. Insiders have bought 3,190 shares of company stock valued at $230,042 over the last quarter. 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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Institutional Ownership by Quarter for Life Storage (NYSE:LSI)

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