Life Storage Inc (LSI) Position Decreased by Reinhart Partners Inc.
Reinhart Partners Inc. reduced its stake in shares of Life Storage Inc (NYSE:LSI) by 41.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,310 shares of the real estate investment trust’s stock after selling 9,450 shares during the quarter. Reinhart Partners Inc.’s holdings in Life Storage were worth $1,186,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of LSI. Land & Buildings Investment Management LLC bought a new stake in shares of Life Storage during the third quarter valued at about $67,395,000. Macquarie Group Ltd. raised its stake in shares of Life Storage by 373.4% during the second quarter. Macquarie Group Ltd. now owns 709,252 shares of the real estate investment trust’s stock valued at $52,555,000 after purchasing an additional 559,428 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Life Storage by 922.2% during the third quarter. JPMorgan Chase & Co. now owns 590,488 shares of the real estate investment trust’s stock valued at $47,699,000 after purchasing an additional 532,721 shares in the last quarter. Barings LLC bought a new stake in shares of Life Storage during the third quarter valued at about $22,872,000. Finally, Prudential Financial Inc. raised its stake in shares of Life Storage by 840.0% during the third quarter. Prudential Financial Inc. now owns 299,983 shares of the real estate investment trust’s stock valued at $24,542,000 after purchasing an additional 268,070 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.
A number of research analysts recently issued reports on LSI shares. KeyCorp reaffirmed a “hold” rating on shares of Life Storage in a report on Thursday, October 12th. Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. B. Riley set a $70.00 target price on Life Storage and gave the stock a “sell” rating in a report on Monday, December 4th. Cantor Fitzgerald lifted their target price on Life Storage from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Finally, BidaskClub raised Life Storage from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the stock. Life Storage currently has a consensus rating of “Hold” and a consensus price target of $81.00.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.54). Life Storage had a return on equity of 4.65% and a net margin of 17.79%. analysts expect that Life Storage Inc will post 5.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Tuesday, January 16th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, January 12th. This represents a $4.00 dividend on an annualized basis and a yield of 4.72%. Life Storage’s dividend payout ratio is currently 199.01%.
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Life Storage 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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