Accurate Investment Solutions Inc. grew its holdings in Life Storage Inc (NYSE:LSI) by 10.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,993 shares of the real estate investment trust’s stock after purchasing an additional 2,208 shares during the period. Life Storage comprises 1.8% of Accurate Investment Solutions Inc.’s portfolio, making the stock its 25th largest holding. Accurate Investment Solutions Inc.’s holdings in Life Storage were worth $2,424,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Life Storage in the 2nd quarter valued at about $28,000. TRUE Private Wealth Advisors acquired a new position in shares of Life Storage in the 2nd quarter valued at about $85,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Life Storage by 228.0% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 984 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 684 shares during the period. NumerixS Investment Technologies Inc acquired a new position in shares of Life Storage in the 1st quarter valued at about $98,000. Finally, Assetmark Inc. increased its holdings in shares of Life Storage by 61.9% in the 2nd quarter. Assetmark Inc. now owns 1,627 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 622 shares during the period. Institutional investors own 92.77% of the company’s stock.
A number of equities analysts recently commented on LSI shares. KeyCorp increased their price objective on Life Storage from $106.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Raymond James increased their price objective on Life Storage from $106.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Stifel Nicolaus started coverage on Life Storage in a report on Monday, August 19th. They issued a “hold” rating and a $106.00 price objective on the stock. Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird upgraded Life Storage from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $92.00 to $101.00 in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $106.57.
NYSE:LSI traded down $0.53 during mid-day trading on Thursday, reaching $105.72. The stock had a trading volume of 32,509 shares, compared to its average volume of 330,624. The business’s 50 day moving average is $104.86 and its 200 day moving average is $99.33. Life Storage Inc has a fifty-two week low of $88.92 and a fifty-two week high of $107.90. The stock has a market cap of $4.96 billion, a P/E ratio of 19.19, a PEG ratio of 4.92 and a beta of 0.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.63.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.54). Life Storage had a return on equity of 10.21% and a net margin of 37.17%. The firm had revenue of $145.00 million during the quarter, compared to analyst estimates of $142.96 million. During the same quarter in the prior year, the company posted $1.39 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts expect that Life Storage Inc will post 5.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, October 11th. This represents a $4.00 dividend on an annualized basis and a yield of 3.78%. Life Storage’s payout ratio is currently 72.60%.
In other Life Storage news, Director Charles E. Lannon sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $103.49, for a total transaction of $206,980.00. Following the completion of the sale, the director now owns 117,152 shares of the company’s stock, valued at $12,124,060.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew J. Gregoire sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $105.04, for a total value of $315,120.00. Following the sale, the chief financial officer now directly owns 52,224 shares of the company’s stock, valued at approximately $5,485,608.96. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $679,690 in the last ninety days. Company insiders own 0.80% of the company’s stock.
Life Storage Profile
Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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