Life Storage Inc (NYSE:LSI) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Life Storage Inc (NYSE:LSI) by 18.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,171 shares of the real estate investment trust’s stock after purchasing an additional 9,944 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.14% of Life Storage worth $6,764,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. PGGM Investments purchased a new position in shares of Life Storage in the 2nd quarter worth $227,266,000. Long Pond Capital LP purchased a new position in shares of Life Storage in the 2nd quarter worth $53,694,000. Nuveen Asset Management LLC raised its position in shares of Life Storage by 232.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 774,147 shares of the real estate investment trust’s stock worth $73,606,000 after buying an additional 540,976 shares during the period. Echo Street Capital Management LLC raised its position in shares of Life Storage by 57.5% in the 2nd quarter. Echo Street Capital Management LLC now owns 428,620 shares of the real estate investment trust’s stock worth $40,753,000 after buying an additional 156,414 shares during the period. Finally, Schroder Investment Management Group purchased a new position in shares of Life Storage in the 2nd quarter worth $12,902,000. Institutional investors and hedge funds own 91.21% of the company’s stock.

NYSE:LSI traded down $0.81 during mid-day trading on Monday, hitting $107.21. The company had a trading volume of 431,754 shares, compared to its average volume of 379,374. The business has a fifty day simple moving average of $106.12 and a 200-day simple moving average of $100.85. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Life Storage Inc has a 1 year low of $89.54 and a 1 year high of $112.64. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 4.81 and a beta of 0.31.

Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.85 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.60). Life Storage had a net margin of 54.38% and a return on equity of 14.85%. The company had revenue of $145.63 million during the quarter, compared to analysts’ expectations of $146.77 million. During the same period last year, the business earned $1.45 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Life Storage Inc will post 5.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.73%. The ex-dividend date was Friday, October 11th. Life Storage’s dividend payout ratio (DPR) is presently 72.60%.

In other Life Storage news, COO Edward F. Killeen sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $105.06, for a total value of $157,590.00. Following the transaction, the chief operating officer now directly owns 26,998 shares of the company’s stock, valued at $2,836,409.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew J. Gregoire sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $105.04, for a total value of $315,120.00. Following the completion of the transaction, the chief financial officer now directly owns 52,224 shares in the company, valued at $5,485,608.96. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Several research analysts recently weighed in on the company. KeyCorp increased their target price on Life Storage from $110.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus raised Life Storage from a “hold” rating to a “buy” rating and increased their target price for the stock from $106.00 to $114.00 in a research report on Thursday, October 31st. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, October 15th. Robert W. Baird raised Life Storage from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $92.00 to $101.00 in a research report on Wednesday, August 21st. Finally, Raymond James increased their target price on Life Storage from $106.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $110.00.

Life Storage Company 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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