Arizona State Retirement System Has $2.98 Million Holdings in Life Storage Inc (LSI)
Arizona State Retirement System raised its position in Life Storage Inc (NYSE:LSI) by 27.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,496 shares of the real estate investment trust’s stock after purchasing an additional 7,119 shares during the period. Arizona State Retirement System’s holdings in Life Storage were worth $2,983,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Solaris Asset Management LLC purchased a new position in Life Storage in the 4th quarter valued at about $112,000. Acadian Asset Management LLC purchased a new position in Life Storage in the 4th quarter valued at about $131,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Life Storage by 145.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,877 shares of the real estate investment trust’s stock valued at $478,000 after buying an additional 3,484 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Life Storage in the 3rd quarter valued at about $489,000. Finally, Boston Advisors LLC purchased a new position in Life Storage in the 4th quarter valued at about $542,000. 99.60% of the stock is owned by institutional investors.
A number of research firms have weighed in on LSI. Citigroup reissued a “hold” rating and issued a $83.00 price objective (down from $95.00) on shares of Life Storage in a research report on Thursday. BMO Capital Markets raised shares of Life Storage from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $78.00 to $79.00 in a research report on Friday. B. Riley set a $70.00 price target on shares of Life Storage and gave the stock a “sell” rating in a research report on Wednesday, February 21st. Zacks Investment Research cut shares of Life Storage from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $86.00 price target on shares of Life Storage in a research report on Wednesday, February 21st. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $81.71.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $133.08 million for the quarter, compared to analyst estimates of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. Life Storage’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. research analysts forecast that Life Storage Inc will post 5.4 EPS for the current fiscal year.
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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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