First Trust Advisors LP Buys 52,584 Shares of Life Storage Inc (NYSE:LSI)

First Trust Advisors LP raised its stake in Life Storage Inc (NYSE:LSI) by 120.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,126 shares of the real estate investment trust’s stock after buying an additional 52,584 shares during the period. First Trust Advisors LP owned about 0.21% of Life Storage worth $10,409,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan grew its holdings in Life Storage by 1.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 8,650 shares of the real estate investment trust’s stock worth $937,000 after acquiring an additional 90 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Life Storage by 8.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the real estate investment trust’s stock worth $942,000 after acquiring an additional 700 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Life Storage by 28.8% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 82,663 shares of the real estate investment trust’s stock worth $8,864,000 after acquiring an additional 18,492 shares during the last quarter. Denali Advisors LLC bought a new stake in Life Storage in the 4th quarter worth $1,245,000. Finally, Stratos Wealth Partners LTD. grew its holdings in Life Storage by 14.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,048 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 500 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:LSI opened at $117.15 on Friday. The company has a 50-day moving average price of $112.07 and a 200-day moving average price of $107.21. Life Storage Inc has a 12 month low of $90.99 and a 12 month high of $117.41. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 4.65 and a beta of 0.35.

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Tuesday, January 14th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.65%. This is a boost from Life Storage’s previous quarterly dividend of $1.00. The ex-dividend date was Monday, January 13th. Life Storage’s dividend payout ratio (DPR) is currently 77.68%.

LSI has been the topic of a number of recent analyst reports. Stifel Nicolaus raised shares of Life Storage from a “hold” rating to a “buy” rating and raised their price target for the stock from $106.00 to $114.00 in a report on Thursday, October 31st. Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Bank of America raised shares of Life Storage from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $102.00 to $111.00 in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Life Storage presently has a consensus rating of “Hold” and a consensus price target of $111.50.

Life Storage 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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