Life Storage, Inc. (LSI) Stake Increased by WFG Advisors LP
WFG Advisors LP grew its holdings in Life Storage, Inc. (NYSE:LSI) by 31.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,543 shares of the real estate investment trust’s stock after buying an additional 2,525 shares during the quarter. WFG Advisors LP’s holdings in Life Storage were worth $781,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its position 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 in the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Life Storage in the first quarter valued at approximately $193,000. Advisor Group Inc. increased its position in shares of Life Storage by 14.9% in the second quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 387 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Life Storage in the second quarter valued at approximately $222,000. Finally, Paragon Capital Management Ltd purchased a new stake in shares of Life Storage in the second quarter valued at approximately $232,000. Institutional investors and hedge funds own 99.50% of the company’s stock.
In related news, CFO Andrew J. Gregoire purchased 1,500 shares of the company’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $71.65 per share, with a total value of $107,475.00. Following the completion of the transaction, the chief financial officer now owns 48,173 shares of the company’s stock, valued at approximately $3,451,595.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul T. Powell purchased 700 shares of the company’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $71.57 per share, with a total value of $50,099.00. Following the transaction, the insider now directly owns 44,996 shares of the company’s stock, valued at approximately $3,220,363.72. The disclosure for this purchase can be found here. Insiders have acquired 3,190 shares of company stock valued at $230,042 in the last three months. 1.90% of the stock is currently owned by company insiders.
Shares of Life Storage, Inc. (NYSE:LSI) traded down 0.93% during mid-day trading on Monday, hitting $81.10. The stock had a trading volume of 95,640 shares. The stock has a 50 day moving average price of $79.78 and a 200-day moving average price of $77.01. The company has a market cap of $3.76 billion, a PE ratio of 70.95 and a beta of 0.58. Life Storage, Inc. has a 52-week low of $69.00 and a 52-week high of $89.24.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.02). The company had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. On average, equities analysts expect that Life Storage, Inc. will post $1.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Friday, October 13th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Thursday, October 12th. Life Storage’s payout ratio is 347.83%.
Life Storage declared that its board has authorized a stock repurchase program on Wednesday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
LSI has been the subject of a number of recent analyst reports. Jefferies Group LLC set a $72.00 price objective on Life Storage and gave the company a “hold” rating in a research report on Friday, August 18th. BidaskClub upgraded Life Storage from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Life Storage in a research note on Thursday. TheStreet lowered Life Storage from a “b-” rating to a “c+” rating in a research note on Monday, June 19th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $78.00 price target (down from $85.00) on shares of Life Storage in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Life Storage currently has a consensus rating of “Hold” and a consensus target price of $77.91.
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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