Life Storage, Inc. (LSI) Position Held by Telemus Capital LLC
Telemus Capital LLC maintained its stake in Life Storage, Inc. (NYSE:LSI) during the second quarter, Holdings Channel reports. The firm owned 3,000 shares of the real estate investment trust’s stock at the end of the second quarter. Telemus Capital LLC’s holdings in Life Storage were worth $222,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Foster & Motley Inc. increased its stake in Life Storage by 5.6% in the second quarter. Foster & Motley Inc. now owns 32,050 shares of the real estate investment trust’s stock worth $2,375,000 after buying an additional 1,695 shares in the last quarter. Texas Permanent School Fund increased its stake in Life Storage by 0.9% in the second quarter. Texas Permanent School Fund now owns 33,947 shares of the real estate investment trust’s stock worth $2,515,000 after buying an additional 289 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Life Storage by 16.7% in the second quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the real estate investment trust’s stock worth $311,000 after buying an additional 600 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Life Storage by 7.3% in the second quarter. Janney Montgomery Scott LLC now owns 6,115 shares of the real estate investment trust’s stock worth $453,000 after buying an additional 416 shares in the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in Life Storage during the second quarter worth approximately $232,000. Institutional investors and hedge funds own 96.44% of the company’s stock.
Life Storage, Inc. (LSI) opened at 72.17 on Tuesday. The company’s 50 day moving average price is $73.95 and its 200-day moving average price is $79.50. The company has a market capitalization of $3.35 billion, a P/E ratio of 63.14 and a beta of 0.56. Life Storage, Inc. has a 12-month low of $69.92 and a 12-month high of $100.77.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by $0.02. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The firm had revenue of $132.78 million during the quarter, compared to the consensus estimate of $132.62 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was up 24.1% on a year-over-year basis. Equities analysts forecast that Life Storage, Inc. will post $2.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Monday, July 17th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s payout ratio is 347.83%.
A number of equities research analysts recently commented on the company. Evercore ISI downgraded Life Storage from an “in-line” rating to an “underperform” rating and dropped their price objective for the company from $77.00 to $71.00 in a report on Monday. UBS AG restated a “neutral” rating and issued a $75.00 price target (down from $80.00) on shares of Life Storage in a report on Thursday, August 3rd. Wells Fargo & Company restated a “market perform” rating and issued a $78.00 price target (down from $85.00) on shares of Life Storage in a report on Saturday, July 22nd. Bank of America Corporation lowered their price target on Life Storage from $82.00 to $76.00 and set a “neutral” rating for the company in a report on Thursday, July 20th. Finally, TheStreet downgraded Life Storage from a “b-” rating to a “c+” rating in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.69.
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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