Pacer Advisors Inc. bought a new stake in shares of Life Storage, Inc. (NYSE:LSI) during the third quarter, Holdings Channel reports. The institutional investor bought 5,116 shares of the real estate investment trust’s stock, valued at approximately $455,000.
Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in Life Storage during the second quarter valued at approximately $7,150,000. BNP Paribas Arbitrage SA purchased a new position in Life Storage during the third quarter valued at approximately $917,000. Oregon Public Employees Retirement Fund purchased a new position in Life Storage during the third quarter valued at approximately $1,420,000. Fisher Asset Management LLC purchased a new position in Life Storage during the third quarter valued at approximately $79,989,000. Finally, Creative Planning purchased a new position in Life Storage during the third quarter valued at approximately $234,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Shares of Life Storage, Inc. (NYSE:LSI) traded up 0.22% during trading on Wednesday, hitting $80.57. The stock had a trading volume of 321,234 shares. The company has a market capitalization of $3.72 billion, a PE ratio of 33.92 and a beta of 0.59. The firm has a 50-day moving average price of $83.53 and a 200 day moving average price of $89.07. Life Storage, Inc. has a 52 week low of $77.00 and a 52 week high of $118.18.
Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $1.20. Life Storage had a return on equity of 5.62% and a net margin of 22.63%. The business earned $127.80 million during the quarter, compared to analysts’ expectations of $122.29 million. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. Equities analysts anticipate that Life Storage, Inc. will post $2.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 26th. Investors of record on Tuesday, January 17th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Thursday, January 12th. Life Storage’s payout ratio is 152.61%.
LSI has been the subject of several research reports. Zacks Investment Research downgraded Life Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. BMO Capital Markets upgraded Life Storage from a “market perform” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Wednesday, October 26th. They noted that the move was a valuation call. Cantor Fitzgerald set a $108.00 target price on Life Storage and gave the company a “buy” rating in a research report on Wednesday, November 2nd. FBR & Co increased their target price on Life Storage from $95.00 to $105.00 and gave the company a “mkt perform” rating in a research report on Thursday, November 3rd. Finally, TheStreet downgraded Life Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Life Storage has a consensus rating of “Hold” and an average target price of $103.36.
In other Life Storage news, Director Arthur L. Havener, Jr. bought 2,724 shares of Life Storage stock in a transaction that occurred on Friday, November 18th. The stock was acquired at an average cost of $79.55 per share, for a total transaction of $216,694.20. Following the completion of the transaction, the director now directly owns 5,639 shares in the company, valued at $448,582.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. Rusmisel bought 500 shares of Life Storage stock in a transaction that occurred on Friday, November 11th. The shares were acquired at an average price of $81.51 per share, with a total value of $40,755.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $384,075.12. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.
Life Storage Company Profile
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
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