Municipal Employees Retirement System of Michigan Sells 3,870 Shares of Life Storage Inc (NYSE:LSI)

Municipal Employees Retirement System of Michigan trimmed its holdings in shares of Life Storage Inc (NYSE:LSI) by 21.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,080 shares of the real estate investment trust’s stock after selling 3,870 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Life Storage were worth $1,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LSI. Macquarie Group Ltd. raised its position in shares of Life Storage by 373.4% during the 2nd quarter. Macquarie Group Ltd. now owns 709,252 shares of the real estate investment trust’s stock valued at $52,555,000 after buying an additional 559,428 shares in the last quarter. Prudential Financial Inc. raised its position in Life Storage by 840.0% in the 3rd quarter. Prudential Financial Inc. now owns 299,983 shares of the real estate investment trust’s stock worth $24,542,000 after purchasing an additional 268,070 shares during the period. Brookfield Asset Management Inc. raised its position in Life Storage by 12.1% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,272,882 shares of the real estate investment trust’s stock worth $94,321,000 after purchasing an additional 137,682 shares during the period. Aviva PLC raised its position in Life Storage by 137.7% in the 2nd quarter. Aviva PLC now owns 206,282 shares of the real estate investment trust’s stock worth $15,281,000 after purchasing an additional 119,495 shares during the period. Finally, Westpac Banking Corp purchased a new stake in Life Storage in the 3rd quarter worth about $7,290,000. Hedge funds and other institutional investors own 96.75% of the company’s stock.

A number of research firms recently weighed in on LSI. B. Riley set a $70.00 price objective on shares of Life Storage and gave the stock a “sell” rating in a research report on Monday. Wells Fargo & Company set a $91.00 price objective on shares of Life Storage and gave the stock a “hold” rating in a research report on Thursday, November 30th. SunTrust Banks reaffirmed a “hold” rating and set a $80.00 target price on shares of Life Storage in a research report on Friday, November 24th. KeyCorp reaffirmed a “hold” rating on shares of Life Storage in a research report on Sunday, November 19th. Finally, Jefferies Group set a $86.00 target price on shares of Life Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $81.07.

Shares of Life Storage Inc (LSI) traded down $0.42 on Thursday, reaching $89.48. 302,001 shares of the company’s stock traded hands, compared to its average volume of 487,492. The firm has a market capitalization of $4,194.83, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 3.79 and a beta of 0.64. Life Storage Inc has a 52 week low of $69.00 and a 52 week high of $91.27. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85.

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Life Storage Profile

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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