Rhumbline Advisers cut its holdings in Life Storage, Inc. (NYSE:LSI) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,962 shares of the real estate investment trust’s stock after selling 4,514 shares during the quarter. Rhumbline Advisers owned about 0.21% of Life Storage worth $8,182,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in Life Storage in the fourth quarter valued at $131,000. Wolverine Asset Management LLC acquired a new position in Life Storage in the fourth quarter valued at $185,000. Bbva Compass Bancshares Inc. acquired a new position in Life Storage in the fourth quarter valued at $224,000. Koch Industries Inc. acquired a new position in Life Storage in the fourth quarter valued at $259,000. Finally, Vident Investment Advisory LLC acquired a new position in Life Storage in the fourth quarter valued at $278,000.
Shares of Life Storage stock opened at $90.01 on Friday. Life Storage, Inc. has a 52-week low of $90.34 and a 52-week high of $90.64. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.87. The stock has a market cap of $4.21 billion, a PE ratio of 16.88, a PEG ratio of 3.61 and a beta of 0.47.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.55). Life Storage had a return on equity of 5.52% and a net margin of 20.55%. The firm had revenue of $133.10 million for the quarter, compared to analyst estimates of $134.71 million. During the same quarter last year, the firm earned $1.26 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. equities analysts anticipate that Life Storage, Inc. will post 5.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 26th. Shareholders of record on Friday, April 13th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, April 12th. This represents a $4.00 annualized dividend and a yield of 4.44%. Life Storage’s payout ratio is currently 75.33%.
In other Life Storage news, COO Edward F. Killeen sold 4,000 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $91.02, for a total transaction of $364,080.00. Following the transaction, the chief operating officer now directly owns 26,069 shares in the company, valued at $2,372,800.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David L. Rogers sold 26,951 shares of the company’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $92.84, for a total transaction of $2,502,130.84. The disclosure for this sale can be found here. Insiders have sold 68,630 shares of company stock worth $6,337,272 over the last 90 days. 1.80% of the stock is currently owned by company insiders.
LSI has been the topic of a number of recent research reports. B. Riley set a $70.00 price objective on shares of Life Storage and gave the company a “sell” rating in a research note on Wednesday, February 21st. Jefferies Group set a $82.00 price objective on shares of Life Storage and gave the company a “hold” rating in a research note on Monday, March 5th. Citigroup restated a “hold” rating and issued a $83.00 price objective (down from $95.00) on shares of Life Storage in a research note on Thursday, March 1st. TheStreet upgraded shares of Life Storage from a “c+” rating to a “b” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research lowered shares of Life Storage from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Life Storage currently has an average rating of “Hold” and a consensus target price of $82.93.
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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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