Russell Investments Group Ltd. boosted its stake in shares of Life Storage Inc (NYSE:LSI) by 52.1% during the 3rd quarter, Holdings Channel reports. The firm owned 307,046 shares of the real estate investment trust’s stock after acquiring an additional 105,228 shares during the quarter. Russell Investments Group Ltd.’s holdings in Life Storage were worth $29,106,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund grew its position in Life Storage by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,969 shares of the real estate investment trust’s stock worth $1,749,000 after purchasing an additional 523 shares during the last quarter. Arizona State Retirement System grew its position in Life Storage by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 32,296 shares of the real estate investment trust’s stock worth $3,143,000 after purchasing an additional 800 shares during the last quarter. Intersect Capital LLC grew its position in Life Storage by 6.8% during the 2nd quarter. Intersect Capital LLC now owns 15,230 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 975 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Life Storage by 333.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Life Storage during the 2nd quarter worth approximately $104,000. 94.16% of the stock is currently owned by institutional investors.
LSI has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks reissued a “hold” rating and set a $95.00 target price on shares of Life Storage in a research report on Monday, September 24th. Citigroup dropped their target price on shares of Life Storage from $100.00 to $91.00 and set a “neutral” rating on the stock in a research report on Friday, October 5th. DA Davidson boosted their target price on shares of Life Storage to $105.00 in a research report on Friday, August 3rd. Finally, ValuEngine raised shares of Life Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $91.50.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.88 EPS for the quarter, meeting the consensus estimate of $0.88. The business had revenue of $141.50 million for the quarter, compared to the consensus estimate of $141.10 million. Life Storage had a net margin of 24.81% and a return on equity of 6.68%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. On average, research analysts expect that Life Storage Inc will post 5.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Tuesday, October 16th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, October 15th. Life Storage’s dividend payout ratio (DPR) is currently 75.33%.
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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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