Nisa Investment Advisors LLC reduced its stake in shares of Life Storage, Inc. (NYSE:LSI) by 32.0% during the second quarter, Holdings Channel reports. The firm owned 5,800 shares of the real estate investment trust’s stock after selling 2,725 shares during the period. Nisa Investment Advisors LLC’s holdings in Life Storage were worth $430,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised 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 worth $406,317,000 after buying an additional 4,860,192 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in 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 worth $93,223,000 after buying an additional 918,400 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in 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 worth $217,386,000 after buying an additional 580,486 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in 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 worth $120,467,000 after buying an additional 491,689 shares in the last quarter. Finally, RidgeWorth Capital Management LLC raised its stake in Life Storage by 43.2% in the first quarter. RidgeWorth Capital Management LLC now owns 689,600 shares of the real estate investment trust’s stock worth $56,630,000 after buying an additional 208,175 shares in the last quarter. Hedge funds and other institutional investors own 96.44% of the company’s stock.

Shares of Life Storage, Inc. (LSI) traded down 1.37% during mid-day trading on Friday, hitting $72.61. 354,770 shares of the stock traded hands. Life Storage, Inc. has a 1-year low of $69.00 and a 1-year high of $95.05. The company’s 50-day moving average price is $73.46 and its 200 day moving average price is $79.12. The company has a market capitalization of $3.37 billion, a PE ratio of 63.53 and a beta of 0.56.

Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business had revenue of $132.78 million during the quarter, compared to analysts’ expectations of $132.62 million. During the same period last year, the firm posted $1.32 EPS. Life Storage’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities research analysts forecast that Life Storage, Inc. will post $2.21 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 5.43%. The ex-dividend date was Thursday, July 13th. Life Storage’s payout ratio is currently 347.83%.

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A number of equities research analysts have recently commented on LSI shares. Cantor Fitzgerald lowered shares of Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Friday, May 5th. TheStreet lowered shares of Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, May 24th. Wells Fargo & Company reissued a “market perform” rating and set a $78.00 target price (down from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. Finally, UBS AG reissued a “neutral” rating and set a $75.00 target price (down from $80.00) on shares of Life Storage in a research note 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 stock. The company has a consensus rating of “Hold” and an average target price of $85.00.

About Life Storage

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

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