APG Asset Management N.V. lowered its holdings in shares of Life Storage Inc (NYSE:LSI) by 83.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,144 shares of the real estate investment trust’s stock after selling 84,150 shares during the quarter. APG Asset Management N.V.’s holdings in Life Storage were worth $1,365,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. C M Bidwell & Associates Ltd. purchased a new position in Life Storage during the 1st quarter valued at $42,000. Van ECK Associates Corp boosted its holdings in Life Storage by 109.2% during the 1st quarter. Van ECK Associates Corp now owns 571 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 298 shares during the period. Bellevue Asset Management LLC bought a new stake in Life Storage during the 1st quarter valued at $74,000. Amica Retiree Medical Trust bought a new stake in Life Storage during the 1st quarter valued at $198,000. Finally, Meeder Asset Management Inc. raised its position in Life Storage by 26,500.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,128 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 2,120 shares in the last quarter. Institutional investors own 91.10% of the company’s stock.
A number of brokerages have weighed in on LSI. Stifel Nicolaus lifted their target price on Life Storage from $96.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. KeyCorp lifted their target price on Life Storage from $106.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Evercore ISI raised Life Storage from an “in-line” rating to an “outperform” rating and set a $114.00 target price for the company in a research report on Monday, August 10th. Wells Fargo & Company decreased their target price on Life Storage from $97.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, June 22nd. Finally, Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $109.83.
LSI opened at $110.49 on Tuesday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 5.46 and a beta of 0.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Life Storage Inc has a 12 month low of $67.31 and a 12 month high of $119.61. The stock has a fifty day moving average price of $103.01 and a 200-day moving average price of $97.00.
Life Storage (NYSE:LSI) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.63). Life Storage had a net margin of 43.67% and a return on equity of 12.00%. The business had revenue of $147.03 million for the quarter, compared to analyst estimates of $146.36 million. During the same period in the prior year, the company earned $1.42 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Life Storage Inc will post 5.71 EPS for the current year.
About Life Storage
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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