Jupiter Asset Management Ltd. Takes Position in Life Storage, Inc. (NYSE:LSI)

Jupiter Asset Management Ltd. bought a new stake in shares of Life Storage, Inc. (NYSE:LSI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,906 shares of the real estate investment trust’s stock, valued at approximately $312,000.

A number of other large investors have also recently made changes to their positions in LSI. Ameritas Investment Company LLC bought a new stake in Life Storage during the 1st quarter valued at $25,000. Parallel Advisors LLC lifted its holdings in shares of Life Storage by 38.7% during the 2nd quarter. Parallel Advisors LLC now owns 308 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 86 shares during the last quarter. Eaton Vance Management purchased a new stake in shares of Life Storage during the 1st quarter valued at $51,000. Signaturefd LLC raised its stake in Life Storage by 41.5% in the 1st quarter. Signaturefd LLC now owns 696 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 204 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Life Storage by 103.4% in the 1st quarter. Lazard Asset Management LLC now owns 895 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 455 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

NYSE LSI opened at $122.49 on Wednesday. The stock has a market capitalization of $9.59 billion, a P/E ratio of 49.79, a P/E/G ratio of 7.19 and a beta of 0.34. Life Storage, Inc. has a 52-week low of $68.31 and a 52-week high of $129.87. The firm has a 50-day moving average price of $119.61 and a 200 day moving average price of $103.97. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.87.

Life Storage (NYSE:LSI) last issued its earnings results on Tuesday, August 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.41). Life Storage had a return on equity of 7.60% and a net margin of 26.92%. On average, equities research analysts expect that Life Storage, Inc. will post 4.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 26th. Shareholders of record on Wednesday, July 14th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Tuesday, July 13th. Life Storage’s dividend payout ratio is currently 74.56%.

LSI has been the subject of a number of recent research reports. Truist lifted their price objective on Life Storage from $105.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, August 30th. Truist Securities lifted their price objective on Life Storage from $105.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, August 30th. Raymond James lifted their price objective on Life Storage from $89.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, August 10th. Citigroup raised their target price on shares of Life Storage from $109.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, July 1st. Finally, KeyCorp lifted their price target on shares of Life Storage from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, August 23rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $115.59.

Life Storage Profile

Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

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Institutional Ownership by Quarter for Life Storage (NYSE:LSI)

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