NFJ Investment Group LLC Has $3.26 Million Stock Position in Life Storage, Inc. (NYSE:LSI)

NFJ Investment Group LLC reduced its stake in shares of Life Storage, Inc. (NYSE:LSI) by 34.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,336 shares of the real estate investment trust’s stock after selling 15,609 shares during the quarter. NFJ Investment Group LLC’s holdings in Life Storage were worth $3,256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Life Storage by 0.8% during the 2nd quarter. BlackRock Inc. now owns 8,961,816 shares of the real estate investment trust’s stock worth $962,050,000 after purchasing an additional 75,462 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Life Storage by 478.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,650,244 shares of the real estate investment trust’s stock worth $313,737,000 after purchasing an additional 3,019,421 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Life Storage by 51.1% during the 1st quarter. Centersquare Investment Management LLC now owns 2,747,106 shares of the real estate investment trust’s stock worth $236,114,000 after purchasing an additional 928,960 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Life Storage by 53.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,709,568 shares of the real estate investment trust’s stock valued at $232,888,000 after buying an additional 944,404 shares in the last quarter. Finally, Cbre Clarion Securities LLC boosted its stake in Life Storage by 10.5% in the first quarter. Cbre Clarion Securities LLC now owns 1,298,707 shares of the real estate investment trust’s stock valued at $111,624,000 after buying an additional 123,427 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on LSI. Raymond James raised their price objective on Life Storage from $89.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, August 10th. Citigroup raised their price objective on Life Storage from $122.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 16th. Truist Securities raised their price objective on Life Storage from $105.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, August 30th. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Friday, August 13th. Finally, Truist increased their target price on Life Storage from $105.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, August 30th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $117.59.

Shares of LSI stock opened at $117.46 on Friday. The stock has a market capitalization of $9.63 billion, a PE ratio of 47.75, a P/E/G ratio of 7.19 and a beta of 0.34. Life Storage, Inc. has a 1-year low of $68.34 and a 1-year high of $129.87. The business has a 50-day moving average of $120.89 and a 200 day moving average of $105.81. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.41 and a quick ratio of 0.41.

Life Storage (NYSE:LSI) last issued its earnings results on Tuesday, August 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.41). Life Storage had a net margin of 26.92% and a return on equity of 7.60%. Analysts anticipate that Life Storage, Inc. will post 4.82 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 26th. Stockholders of record on Wednesday, July 14th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Tuesday, July 13th. Life Storage’s dividend payout ratio is currently 74.56%.

Life Storage Company Profile

Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

Further Reading: Trade Deficit

Institutional Ownership by Quarter for Life Storage (NYSE:LSI)

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