Cbre Clarion Securities LLC increased its stake in Life Storage, Inc. (NYSE:LSI) by 10.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,298,707 shares of the real estate investment trust’s stock after purchasing an additional 123,427 shares during the quarter. Life Storage accounts for 2.2% of Cbre Clarion Securities LLC’s portfolio, making the stock its 14th largest position. Cbre Clarion Securities LLC owned about 1.70% of Life Storage worth $111,624,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of LSI. Reby Advisors LLC purchased a new stake in Life Storage in the fourth quarter worth approximately $30,000. Lindbrook Capital LLC boosted its holdings in Life Storage by 54.2% in the first quarter. Lindbrook Capital LLC now owns 367 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 129 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in Life Storage in the fourth quarter worth approximately $34,000. CWM LLC boosted its holdings in Life Storage by 49.8% in the first quarter. CWM LLC now owns 605 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 201 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Life Storage by 41.5% in the first quarter. Signaturefd LLC now owns 696 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 95.39% of the company’s stock.
Several equities research analysts recently issued reports on LSI shares. Evercore ISI upgraded shares of Life Storage from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $82.00 to $94.00 in a report on Monday, March 1st. Truist increased their price target on shares of Life Storage from $85.00 to $88.00 in a research report on Friday, March 5th. KeyCorp increased their price target on shares of Life Storage from $92.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, May 20th. Truist Securities increased their price target on shares of Life Storage from $88.00 to $98.00 and gave the stock a “hold” rating in a research report on Friday, June 4th. Finally, Wells Fargo & Company increased their price target on shares of Life Storage from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $93.42.
Shares of LSI stock traded up $0.07 on Friday, hitting $107.44. 1,293 shares of the stock traded hands, compared to its average volume of 579,100. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 6.47 and a beta of 0.33. Life Storage, Inc. has a 52 week low of $60.67 and a 52 week high of $107.51. The business has a 50 day moving average price of $95.80. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.88.
Life Storage (NYSE:LSI) last announced its quarterly earnings data on Tuesday, May 4th. The real estate investment trust reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.38). The firm had revenue of $171.89 million for the quarter, compared to the consensus estimate of $164.24 million. Life Storage had a net margin of 25.33% and a return on equity of 7.15%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. Analysts forecast that Life Storage, Inc. will post 4.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 26th. Investors of record on Wednesday, April 14th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Tuesday, April 13th. This represents a $2.96 annualized dividend and a yield of 2.76%. Life Storage’s payout ratio is 74.56%.
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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