Daiwa Securities Group Inc. increased its position in shares of Life Storage Inc (NYSE:LSI) by 22,651.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,456,114 shares of the real estate investment trust’s stock after purchasing an additional 1,449,714 shares during the quarter. Daiwa Securities Group Inc. owned approximately 3.12% of Life Storage worth $138,564,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of LSI. Guggenheim Capital LLC increased its position in shares of Life Storage by 148.9% during the first quarter. Guggenheim Capital LLC now owns 41,106 shares of the real estate investment trust’s stock worth $3,433,000 after purchasing an additional 24,594 shares in the last quarter. Millennium Management LLC increased its position in shares of Life Storage by 75.6% during the first quarter. Millennium Management LLC now owns 67,606 shares of the real estate investment trust’s stock worth $5,646,000 after purchasing an additional 29,110 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Life Storage by 2.7% during the first quarter. Principal Financial Group Inc. now owns 203,379 shares of the real estate investment trust’s stock worth $16,986,000 after purchasing an additional 5,334 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Life Storage during the first quarter worth approximately $2,489,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Life Storage during the first quarter worth approximately $1,015,000. Hedge funds and other institutional investors own 94.16% of the company’s stock.
Several analysts recently commented on LSI shares. DA Davidson boosted their price target on Life Storage to $105.00 in a research report on Friday, August 3rd. ValuEngine upgraded Life Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Life Storage from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Thursday, August 23rd. SunTrust Banks reissued a “hold” rating and set a $95.00 price objective on shares of Life Storage in a research note on Monday, September 24th. Finally, BMO Capital Markets reissued a “hold” rating and set a $87.00 price objective on shares of Life Storage in a research note on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price 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 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. The company had revenue of $141.50 million for the quarter, compared to analyst estimates of $141.10 million. Life Storage had a return on equity of 6.68% and a net margin of 24.81%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. Equities analysts anticipate that Life Storage Inc will post 5.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Tuesday, October 16th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend 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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