Sorin Capital Management LLC purchased a new position in shares of Life Storage, Inc. (NYSE:LSI) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 19,245 shares of the real estate investment trust’s stock, valued at approximately $1,426,000. Life Storage makes up 1.3% of Sorin Capital Management LLC’s investment portfolio, making the stock its 9th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of LSI. BlackRock Inc. raised its stake in shares of Life Storage by 5,546.9% during the 1st quarter. BlackRock Inc. now owns 4,947,812 shares of the real estate investment trust’s stock worth $406,317,000 after purchasing an additional 4,860,192 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in shares of Life Storage by 423.6% during the 1st quarter. Brookfield Asset Management Inc. now owns 1,135,200 shares of the real estate investment trust’s stock worth $93,223,000 after purchasing an additional 918,400 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Life Storage by 28.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,647,175 shares of the real estate investment trust’s stock worth $217,386,000 after purchasing an additional 580,486 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Life Storage by 50.4% during the 1st 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 purchasing an additional 491,689 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Life Storage by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 7,298,673 shares of the real estate investment trust’s stock worth $599,367,000 after purchasing an additional 179,513 shares in the last quarter. 96.83% of the stock is owned by institutional investors.

In other Life Storage news, CFO Andrew J. Gregoire acquired 1,500 shares of the company’s stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $71.65 per share, for a total transaction of $107,475.00. Following the completion of the purchase, the chief financial officer now directly owns 48,173 shares of the company’s stock, valued at $3,451,595.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arthur L. Havener, Jr. acquired 990 shares of the company’s stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $73.20 per share, for a total transaction of $72,468.00. Following the purchase, the director now directly owns 7,413 shares of the company’s stock, valued at $542,631.60. The disclosure for this purchase can be found here. Insiders acquired 3,190 shares of company stock worth $230,042 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.02). The business had revenue of $132.78 million during the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. Life Storage’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS.

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A number of research analysts recently weighed in on the company. BidaskClub downgraded Life Storage from a “hold” rating to a “sell” rating in a research note on Saturday, September 2nd. Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Wells Fargo & Company reissued a “market perform” rating and issued a $78.00 price objective (down from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. UBS AG reissued a “neutral” rating and issued a $75.00 price objective (down from $80.00) on shares of Life Storage in a research note on Wednesday, August 9th. Finally, Evercore ISI downgraded Life Storage from an “in-line” rating to an “underperform” rating and cut their price objective for the company from $77.00 to $71.00 in a research note on Monday, August 7th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Life Storage presently has an average rating of “Hold” and a consensus price target of $77.82.

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

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