Amalgamated Bank Sells 900 Shares of Life Storage, Inc. (LSI)

Amalgamated Bank reduced its stake in shares of Life Storage, Inc. (NYSE:LSI) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,320 shares of the real estate investment trust’s stock after selling 900 shares during the period. Amalgamated Bank’s holdings in Life Storage were worth $601,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LSI. Vanguard Group Inc. raised its position in Life Storage by 2.5% in the first quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock valued at $599,367,000 after buying an additional 179,513 shares in the last quarter. BlackRock Inc. raised its position in Life Storage by 5,546.9% in the first quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock valued at $406,317,000 after buying an additional 4,860,192 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Life Storage by 50.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock valued at $120,467,000 after buying an additional 491,689 shares in the last quarter. Wellington Management Group LLP raised its position in Life Storage by 27.5% in the first quarter. Wellington Management Group LLP now owns 699,278 shares of the real estate investment trust’s stock valued at $57,425,000 after buying an additional 150,968 shares in the last quarter. Finally, RidgeWorth Capital Management LLC raised its position in Life Storage by 43.2% in the first quarter. RidgeWorth Capital Management LLC now owns 689,600 shares of the real estate investment trust’s stock valued at $56,630,000 after buying an additional 208,175 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Shares of Life Storage, Inc. (NYSE:LSI) traded up 0.62% during mid-day trading on Friday, reaching $72.89. 539,887 shares of the company’s stock were exchanged. Life Storage, Inc. has a 52-week low of $69.92 and a 52-week high of $103.50. The stock’s 50-day moving average is $74.03 and its 200-day moving average is $79.66. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 42.78 and a beta of 0.57.

Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by $0.01. The firm had revenue of $128.30 million for the quarter, compared to analyst estimates of $128.19 million. Life Storage had a return on equity of 3.68% and a net margin of 15.72%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, equities analysts expect that Life Storage, Inc. will post $2.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Monday, July 17th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, July 13th. This represents a $4.00 dividend on an annualized basis and a yield of 5.49%. Life Storage’s dividend payout ratio (DPR) is 227.27%.

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Several research firms have commented on LSI. Zacks Investment Research downgraded shares of Life Storage from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. TheStreet downgraded shares of Life Storage from a “b-” rating to a “c+” rating in a research report on Monday, June 19th. ValuEngine downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cantor Fitzgerald downgraded shares of Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Monday, May 15th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $92.00 target price (down from $100.00) on shares of Life Storage in a research report on Sunday, May 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $89.62.

In related news, insider Paul T. Powell acquired 700 shares of Life Storage stock in a transaction on Tuesday, May 9th. The stock was purchased at an average cost of $73.04 per share, with a total value of $51,128.00. Following the completion of the transaction, the insider now directly owns 44,296 shares in the company, valued at approximately $3,235,379.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

About Life Storage

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.

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

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