Hancock Whitney Corp raised its holdings in shares of Life Storage Inc (NYSE:LSI) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,273 shares of the real estate investment trust’s stock after purchasing an additional 1,677 shares during the quarter. Hancock Whitney Corp’s holdings in Life Storage were worth $2,106,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. lifted its holdings in shares of Life Storage by 28.2% during the fourth quarter. Macquarie Group Ltd. now owns 894,788 shares of the real estate investment trust’s stock worth $96,887,000 after buying an additional 197,056 shares in the last quarter. Geode Capital Management LLC grew its position in Life Storage by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 784,080 shares of the real estate investment trust’s stock valued at $84,900,000 after acquiring an additional 22,440 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Life Storage by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 781,214 shares of the real estate investment trust’s stock worth $84,590,000 after acquiring an additional 17,650 shares during the period. Aew Capital Management L P acquired a new position in Life Storage in the first quarter valued at approximately $65,763,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Life Storage by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 670,863 shares of the real estate investment trust’s stock valued at $63,429,000 after acquiring an additional 20,488 shares in the last quarter. 91.19% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on LSI shares. Raymond James downgraded Life Storage from an “outperform” rating to a “market perform” rating in a report on Sunday, April 19th. Stifel Nicolaus decreased their price target on Life Storage from $128.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, March 24th. Bank of America upgraded Life Storage from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $126.00 to $117.00 in a report on Tuesday, March 24th. Wells Fargo & Co decreased their price target on Life Storage from $98.00 to $97.00 and set an “equal weight” rating for the company in a report on Thursday, April 2nd. Finally, Robert W. Baird upped their price target on Life Storage from $101.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $106.70.
Shares of NYSE:LSI opened at $89.85 on Friday. The company has a market capitalization of $4.18 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 3.91 and a beta of 0.38. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.41 and a quick ratio of 0.41. The business has a fifty day moving average price of $90.75 and a two-hundred day moving average price of $103.55. Life Storage Inc has a 1 year low of $67.31 and a 1 year high of $119.61.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.62). Life Storage had a net margin of 44.55% and a return on equity of 12.33%. The firm had revenue of $146.94 million for the quarter, compared to analysts’ expectations of $145.73 million. During the same period in the prior year, the company earned $1.31 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Life Storage Inc will post 5.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Tuesday, April 14th were given a dividend of $1.07 per share. The ex-dividend date was Monday, April 13th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.76%. Life Storage’s dividend payout ratio is presently 76.16%.
In other news, Director Edward J. Pettinella purchased 3,260 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average price of $79.08 per share, with a total value of $257,800.80. Following the transaction, the director now directly owns 12,200 shares of the company’s stock, valued at $964,776. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward J. Pettinella acquired 7,420 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $100.03 per share, for a total transaction of $742,222.60. Following the acquisition, the director now directly owns 8,940 shares in the company, valued at approximately $894,268.20. The disclosure for this purchase can be found here. Insiders have bought a total of 11,680 shares of company stock worth $1,087,573 in the last ninety days. Insiders own 0.90% of the company’s stock.
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.
Read More: Profit margin is different from the revenue
Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.