Life Storage, Inc. (LSI) Stake Decreased by Solaris Asset Management LLC
Solaris Asset Management LLC lowered its stake in Life Storage, Inc. (NYSE:LSI) by 26.4% during the second quarter, Holdings Channel reports. The firm owned 1,675 shares of the real estate investment trust’s stock after selling 600 shares during the period. Solaris Asset Management LLC’s holdings in Life Storage were worth $124,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake 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 period. Perigon Wealth Management LLC bought a new stake in shares of Life Storage during the first quarter valued at approximately $193,000. Creative Planning increased its stake 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 period. Fox Run Management L.L.C. bought a new stake in shares of Life Storage during the second quarter valued at approximately $222,000. Finally, World Asset Management Inc increased its stake in Life Storage by 10.9% in the first quarter. World Asset Management Inc now owns 3,130 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 308 shares during the last quarter. 96.44% of the stock is owned by institutional investors.
Life Storage, Inc. (LSI) opened at 72.97 on Thursday. The company has a market capitalization of $3.38 billion, a PE ratio of 63.84 and a beta of 0.56. The firm’s 50-day moving average price is $73.51 and its 200 day moving average price is $79.16. Life Storage, Inc. has a 52 week low of $69.92 and a 52 week high of $100.77.
Life Storage (NYSE:LSI) last released 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 return on equity of 2.56% and a net margin of 10.28%. The company had revenue of $132.78 million during the quarter, compared to analysts’ expectations of $132.62 million. During the same period in the prior year, the company posted $1.32 earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. Equities research analysts expect that Life Storage, Inc. will post $2.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.48%. Life Storage’s dividend payout ratio is currently 347.83%.
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Several analysts recently issued reports on LSI shares. Cantor Fitzgerald downgraded shares of Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Friday, May 5th. TheStreet downgraded shares of Life Storage from a “b-” rating to a “c+” rating in a research report on Monday, June 19th. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, May 24th. Wells Fargo & Company reissued a “market perform” rating and issued a $78.00 price target (down previously from $85.00) on shares of Life Storage in a research report on Saturday, July 22nd. Finally, UBS AG reissued a “neutral” rating and issued a $75.00 price target (down previously from $80.00) on shares of Life Storage in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $85.00.
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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