ING Groep NV bought a new stake in Life Storage, Inc. (NYSE:LSI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,656 shares of the real estate investment trust’s stock, valued at approximately $419,000.

A number of other large investors have also made changes to their positions in the company. Anchor Capital Advisors LLC boosted its stake in shares of Life Storage by 1.5% in the first quarter. Anchor Capital Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 50 shares during the period. Creative Planning boosted its position in shares of Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 60 shares during the last quarter. Utah Retirement Systems boosted its position in shares of Life Storage by 1.1% in the first quarter. Utah Retirement Systems now owns 9,596 shares of the real estate investment trust’s stock valued at $788,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Life Storage by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 124 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Life Storage by 0.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,944 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 135 shares during the last quarter. 96.44% of the stock is currently owned by institutional investors.

Life Storage, Inc. (LSI) traded down 0.61% during mid-day trading on Monday, hitting $72.08. 206,326 shares of the company were exchanged. Life Storage, Inc. has a 12 month low of $69.92 and a 12 month high of $100.77. The firm has a 50 day moving average price of $73.95 and a 200 day moving average price of $79.50. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 63.06 and a beta of 0.56.

Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the consensus estimate of $1.35 by $0.02. The company had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 earnings per share. Analysts anticipate that Life Storage, Inc. will post $2.35 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, July 13th. This represents a $4.00 annualized dividend and a dividend yield of 5.52%. Life Storage’s payout ratio is currently 347.83%.

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Several research analysts have recently weighed in on the stock. Evercore ISI cut shares of Life Storage from an “in-line” rating to an “underperform” rating and lowered their price target for the company from $77.00 to $71.00 in a research report on Monday. UBS AG reissued a “neutral” rating and set a $75.00 price target (down previously from $80.00) on shares of Life Storage in a research report on Thursday. Wells Fargo & Company reissued a “market perform” rating and set a $78.00 price target (down previously from $85.00) on shares of Life Storage in a research report on Saturday, July 22nd. Bank of America Corporation lowered their price target on shares of Life Storage from $82.00 to $76.00 and set a “neutral” rating on the stock in a research report on Thursday, July 20th. Finally, TheStreet cut shares of Life Storage from a “b-” rating to a “c+” rating in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $86.69.

In related news, insider Paul T. Powell bought 700 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average cost of $73.04 per share, for a total transaction of $51,128.00. Following the acquisition, the insider now owns 44,296 shares in the company, valued at approximately $3,235,379.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.90% 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.

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

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