Steward Partners Investment Advisory LLC Increases Stock Holdings in Life Storage, Inc. (NYSE:LSI)

Steward Partners Investment Advisory LLC grew its position in Life Storage, Inc. (NYSE:LSIGet Rating) by 235.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,887 shares of the real estate investment trust’s stock after buying an additional 2,727 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Life Storage were worth $546,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Whittier Trust Co. purchased a new position in shares of Life Storage in the first quarter valued at $28,000. SG Americas Securities LLC boosted its stake in shares of Life Storage by 877.9% during the first quarter. SG Americas Securities LLC now owns 175,927 shares of the real estate investment trust’s stock valued at $24,705,000 after acquiring an additional 157,937 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Life Storage by 1.1% during the first quarter. Daiwa Securities Group Inc. now owns 24,430 shares of the real estate investment trust’s stock valued at $3,431,000 after acquiring an additional 265 shares during the last quarter. Foster & Motley Inc. boosted its stake in shares of Life Storage by 242.3% during the first quarter. Foster & Motley Inc. now owns 5,104 shares of the real estate investment trust’s stock valued at $717,000 after acquiring an additional 3,613 shares during the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new stake in shares of Life Storage during the first quarter valued at $175,000. Hedge funds and other institutional investors own 91.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LSI shares. StockNews.com started coverage on Life Storage in a research note on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets lowered Life Storage from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $150.00 to $130.00 in a research note on Thursday, May 19th. Raymond James decreased their price target on Life Storage from $145.00 to $125.00 in a research note on Monday, May 23rd. Bank of America lowered Life Storage from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $141.00 to $133.00 in a research note on Tuesday, June 21st. Finally, Jefferies Financial Group decreased their price target on Life Storage from $166.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $141.73.

Life Storage Stock Performance

NYSE LSI opened at $119.68 on Thursday. The firm has a market capitalization of $10.10 billion, a P/E ratio of 35.10, a P/E/G ratio of 5.30 and a beta of 0.56. Life Storage, Inc. has a 1-year low of $100.66 and a 1-year high of $154.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.62 and a quick ratio of 0.62. The business’s 50-day simple moving average is $112.60 and its 200-day simple moving average is $126.68.

Life Storage (NYSE:LSIGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $233.49 million during the quarter, compared to analyst estimates of $230.01 million. Life Storage had a net margin of 32.60% and a return on equity of 8.71%. The business’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 earnings per share. Equities analysts predict that Life Storage, Inc. will post 6.13 EPS for the current year.

Life Storage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Friday, July 15th were issued a dividend of $1.08 per share. This is an increase from Life Storage’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, July 14th. Life Storage’s dividend payout ratio (DPR) is presently 126.69%.

About Life Storage

(Get Rating)

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

Featured Stories

Want to see what other hedge funds are holding LSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Life Storage, Inc. (NYSE:LSIGet Rating).

Institutional Ownership by Quarter for Life Storage (NYSE:LSI)

Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.