UBS Oconnor LLC Buys Shares of 53,100 Life Storage Inc (NYSE:LSI)

UBS Oconnor LLC bought a new stake in Life Storage Inc (NYSE:LSI) in the second quarter, Holdings Channel.com reports. The institutional investor bought 53,100 shares of the real estate investment trust’s stock, valued at approximately $5,049,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of America Corp DE increased its position in Life Storage by 55.8% during the second quarter. Bank of America Corp DE now owns 304,387 shares of the real estate investment trust’s stock worth $28,942,000 after acquiring an additional 108,964 shares during the period. Marshall Wace North America L.P. bought a new position in Life Storage during the second quarter worth $201,000. Balyasny Asset Management LLC increased its position in Life Storage by 20.1% during the second quarter. Balyasny Asset Management LLC now owns 387,896 shares of the real estate investment trust’s stock worth $36,881,000 after acquiring an additional 64,895 shares during the period. Assetmark Inc. increased its position in Life Storage by 61.9% during the second quarter. Assetmark Inc. now owns 1,627 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 622 shares during the period. Finally, Invesco Ltd. increased its position in Life Storage by 4.7% during the second quarter. Invesco Ltd. now owns 1,022,029 shares of the real estate investment trust’s stock worth $97,175,000 after acquiring an additional 46,116 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Life Storage stock traded up $0.26 on Thursday, hitting $105.31. The company’s stock had a trading volume of 9,744 shares, compared to its average volume of 333,018. The firm has a market cap of $4.81 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 4.67 and a beta of 0.35. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The company has a fifty day moving average price of $103.15 and a 200-day moving average price of $98.36. Life Storage Inc has a one year low of $88.92 and a one year high of $106.43.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.54). The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $142.96 million. Life Storage had a net margin of 37.17% and a return on equity of 10.21%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. Analysts anticipate that Life Storage Inc will post 5.59 EPS for the current year.

In other news, Director Charles E. Lannon sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $103.49, for a total value of $206,980.00. Following the sale, the director now owns 117,152 shares of the company’s stock, valued at approximately $12,124,060.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew J. Gregoire sold 3,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $105.04, for a total transaction of $315,120.00. Following the completion of the sale, the chief financial officer now directly owns 52,224 shares in the company, valued at approximately $5,485,608.96. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $679,690 in the last three months. Insiders own 0.80% of the company’s stock.

LSI has been the topic of a number of research reports. Robert W. Baird raised shares of Life Storage from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $92.00 to $101.00 in a research report on Wednesday, August 21st. KeyCorp boosted their target price on shares of Life Storage from $106.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus initiated coverage on shares of Life Storage in a research report on Monday, August 19th. They set a “hold” rating and a $106.00 target price on the stock. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Thursday. Finally, Raymond James boosted their target price on shares of Life Storage from $106.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $103.33.

About Life Storage

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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