Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Life Storage, Inc. (NYSE:LSI) by 102.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,089 shares of the real estate investment trust’s stock after purchasing an additional 23,279 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.06% of Life Storage worth $5,503,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in LSI. First Trust Advisors LP boosted its stake in Life Storage by 615.6% during the 1st quarter. First Trust Advisors LP now owns 63,199 shares of the real estate investment trust’s stock valued at $6,147,000 after purchasing an additional 54,368 shares during the period. First Allied Advisory Services Inc. acquired a new stake in Life Storage during the 3rd quarter valued at $202,000. Advisors Asset Management Inc. increased its holdings in Life Storage by 10.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 189 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Life Storage by 78.2% during the 3rd quarter. Squarepoint Ops LLC now owns 19,297 shares of the real estate investment trust’s stock valued at $2,031,000 after purchasing an additional 8,471 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Life Storage by 368.3% during the 3rd quarter. AQR Capital Management LLC now owns 80,197 shares of the real estate investment trust’s stock valued at $8,442,000 after purchasing an additional 63,073 shares in the last quarter. Hedge funds and other institutional investors own 89.84% of the company’s stock.
LSI stock opened at $88.93 on Thursday. The business’s 50-day moving average price is $85.18 and its two-hundred day moving average price is $79.43. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.02. The firm has a market cap of $6.71 billion, a PE ratio of 27.20, a P/E/G ratio of 5.27 and a beta of 0.32. Life Storage, Inc. has a 1-year low of $55.00 and a 1-year high of $89.54.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 26th. Shareholders of record on Wednesday, April 14th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, April 13th. This represents a $2.96 annualized dividend and a yield of 3.33%. Life Storage’s dividend payout ratio is presently 52.67%.
A number of research firms recently weighed in on LSI. Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 18th. Evercore ISI raised Life Storage from an “in-line” rating to an “outperform” rating and raised their price target for the company from $82.00 to $94.00 in a report on Monday, March 8th. BMO Capital Markets raised Life Storage from a “market perform” rating to an “outperform” rating and raised their price target for the company from $81.33 to $93.33 in a report on Thursday, January 7th. Raymond James lifted their target price on Life Storage from $80.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. Finally, Truist lifted their target price on Life Storage from $85.00 to $88.00 in a research note on Friday, March 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $87.11.
Life Storage 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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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