The Pacer Advisors Inc. Buys New Stake in Life Storage, Inc. (LSI)

The Pacer Advisors Inc. Buys New Stake in Life Storage, Inc. (LSI)

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.

Want to see what other hedge funds are holding LSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Life Storage, Inc. (NYSE:LSI).

Related posts

Leave a Comment