New Mexico Educational Retirement Board Has $473,000 Stake in Life Storage Inc (LSI)
New Mexico Educational Retirement Board continued to hold its position in shares of Life Storage Inc (NYSE:LSI) during the second quarter, Holdings Channel reports. The firm owned 6,481 shares of the real estate investment trust’s stock at the end of the second quarter. New Mexico Educational Retirement Board’s holdings in Life Storage were worth $473,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of 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 during the last quarter. 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 worth $198,000 after buying an additional 60 shares during the last quarter. Sei Investments Co. boosted its position in shares of Life Storage by 17.6% in the first quarter. Sei Investments Co. now owns 57,920 shares of the real estate investment trust’s stock worth $4,756,000 after buying an additional 8,684 shares during the last quarter. RidgeWorth Capital Management LLC boosted its position in shares of 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 during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Life Storage by 77.6% in the first quarter. Nationwide Fund Advisors now owns 178,510 shares of the real estate investment trust’s stock worth $14,659,000 after buying an additional 78,007 shares during the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.
Shares of Life Storage Inc (NYSE LSI) opened at 72.56 on Friday. Life Storage Inc has a 52-week low of $69.00 and a 52-week high of $95.05. The stock has a market cap of $3.36 billion, a PE ratio of 63.48 and a beta of 0.56. The company’s 50-day moving average price is $72.90 and its 200-day moving average price is $78.74.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. The firm had revenue of $132.78 million during the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a return on equity of 3.76% and a net margin of 14.63%. The business’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the business earned $1.32 EPS. On average, equities research analysts forecast that Life Storage Inc will post $1.87 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 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 yield of 5.51%. Life Storage’s dividend payout ratio (DPR) is 347.83%.
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LSI has been the subject of several recent analyst reports. Zacks Investment Research upgraded Life Storage from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Wells Fargo & Company restated a “market perform” rating and issued a $78.00 price target (down previously from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. Bank of America Corporation cut Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price target for the company. in a research note on Tuesday, May 9th. Evercore ISI cut Life Storage from an “in-line” rating to an “underperform” rating and decreased their price target for the stock from $77.00 to $71.00 in a research note on Monday, August 7th. Finally, Cantor Fitzgerald cut Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price target for the company. in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $81.45.
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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