Fox Run Management L.L.C. Takes Position in Life Storage, Inc. (NYSE:LSI)
Fox Run Management L.L.C. purchased a new stake in shares of Life Storage, Inc. (NYSE:LSI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,000 shares of the real estate investment trust’s stock, valued at approximately $222,000.
Several other institutional investors have also made changes to their positions in LSI. BlackRock Inc. boosted its stake in Life Storage by 5,546.9% in the first quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock valued at $406,317,000 after buying an additional 4,860,192 shares during the last quarter. Brookfield Asset Management Inc. boosted its position in shares of Life Storage by 423.6% in the first quarter. Brookfield Asset Management Inc. now owns 1,135,200 shares of the real estate investment trust’s stock valued at $93,223,000 after buying an additional 918,400 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Life Storage by 28.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock valued at $217,386,000 after buying an additional 580,486 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Life Storage by 50.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,466,964 shares of the real estate investment trust’s stock valued at $120,467,000 after buying an additional 491,689 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Life Storage during the fourth quarter valued at $37,286,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.
Life Storage, Inc. (NYSE LSI) opened at 74.33 on Monday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 43.62 and a beta of 0.57. The company has a 50-day moving average price of $74.12 and a 200 day moving average price of $80.15. Life Storage, Inc. has a 12-month low of $70.07 and a 12-month high of $107.71.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.01. Life Storage had a return on equity of 3.68% and a net margin of 15.72%. The firm had revenue of $128.30 million for the quarter, compared to analysts’ expectations of $128.19 million. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities research analysts predict that Life Storage, Inc. will post $2.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Monday, July 17th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Thursday, July 13th. Life Storage’s dividend payout ratio (DPR) is 227.27%.
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Several research analysts have recently weighed in on LSI shares. Zacks Investment Research cut Life Storage from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Cantor Fitzgerald cut Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Friday, May 5th. Citigroup Inc. reiterated a “buy” rating and issued a $92.00 price objective (down from $100.00) on shares of Life Storage in a report on Sunday, May 14th. Bank of America Corporation cut Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price objective on the stock. in a report on Tuesday, May 9th. Finally, FBR & Co set a $79.00 price objective on Life Storage and gave the company a “hold” rating in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $89.62.
In other news, insider Paul T. Powell purchased 700 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average price of $73.04 per share, with a total value of $51,128.00. Following the purchase, the insider now directly owns 44,296 shares of the company’s stock, valued at approximately $3,235,379.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.
Life Storage Company Profile
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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