Robeco Institutional Asset Management B.V. decreased its holdings in Life Storage Inc (NYSE:LSI) by 14.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 269,179 shares of the real estate investment trust’s stock after selling 44,079 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Life Storage were worth $28,375,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. PGGM Investments purchased a new stake in Life Storage in the 2nd quarter valued at about $227,266,000. Invesco Ltd. grew its holdings in Life Storage by 4.7% in the 2nd quarter. Invesco Ltd. now owns 1,022,029 shares of the real estate investment trust’s stock valued at $97,175,000 after buying an additional 46,116 shares during the period. Nuveen Asset Management LLC grew its holdings in Life Storage by 232.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 774,147 shares of the real estate investment trust’s stock valued at $73,606,000 after buying an additional 540,976 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Life Storage by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 736,887 shares of the real estate investment trust’s stock valued at $70,064,000 after buying an additional 5,188 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in Life Storage by 1.0% in the 2nd quarter. Macquarie Group Ltd. now owns 671,781 shares of the real estate investment trust’s stock valued at $63,873,000 after buying an additional 6,968 shares during the period. Institutional investors own 92.80% of the company’s stock.
Several analysts have commented on the company. Zacks Investment Research upgraded Life Storage from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, October 15th. Robert W. Baird upgraded Life Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $92.00 to $101.00 in a report on Wednesday, August 21st. KeyCorp lifted their price target on Life Storage from $110.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group upgraded Life Storage from a “hold” rating to a “buy” rating and lifted their price target for the company from $113.00 to $122.00 in a report on Friday, October 11th. Finally, Stifel Nicolaus began coverage on Life Storage in a report on Monday, August 19th. They set a “hold” rating and a $106.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Life Storage currently has an average rating of “Hold” and an average target price of $109.00.
Shares of NYSE:LSI opened at $107.39 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.63 and a current ratio of 0.63. Life Storage Inc has a 1 year low of $89.54 and a 1 year high of $107.90. The stock has a market capitalization of $4.98 billion, a P/E ratio of 19.49, a PEG ratio of 4.95 and a beta of 0.33. The stock has a 50-day simple moving average of $105.27 and a 200-day simple moving average of $99.79.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.54). Life Storage had a return on equity of 10.21% and a net margin of 37.17%. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $142.96 million. During the same quarter in the previous year, the firm posted $1.39 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that Life Storage Inc will post 5.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, October 11th. Life Storage’s payout ratio is currently 72.60%.
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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