Advisory Services Network LLC Raises Position in Life Storage Inc (LSI)

Advisory Services Network LLC raised its position in shares of Life Storage Inc (NYSE:LSI) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,371 shares of the real estate investment trust’s stock after purchasing an additional 290 shares during the period. Advisory Services Network LLC’s holdings in Life Storage were worth $964,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Lindbrook Capital LLC purchased a new stake in Life Storage in the 4th quarter worth approximately $42,000. Advisor Group Inc. lifted its stake in Life Storage by 68.8% in the 4th quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 190 shares in the last quarter. Clean Yield Group purchased a new stake in Life Storage in the 4th quarter worth approximately $74,000. Pearl River Capital LLC purchased a new stake in shares of Life Storage during the 4th quarter valued at $74,000. Finally, Ffcm LLC raised its position in shares of Life Storage by 137.6% during the 4th quarter. Ffcm LLC now owns 1,818 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 1,053 shares in the last quarter. 98.09% of the stock is currently owned by institutional investors.

In other news, Director David L. Rogers sold 10,000 shares of Life Storage stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $96.12, for a total transaction of $961,200.00. Following the sale, the director now owns 120,000 shares of the company’s stock, valued at approximately $11,534,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Several research firms have recently weighed in on LSI. Bank of America cut shares of Life Storage from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $105.00 to $99.00 in a research report on Friday, March 8th. Zacks Investment Research cut shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $97.86.

Life Storage stock traded up $0.25 during trading hours on Friday, reaching $94.22. The stock had a trading volume of 662,270 shares, compared to its average volume of 411,677. The firm has a market cap of $4.39 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 4.27 and a beta of 0.46. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.83. Life Storage Inc has a 52 week low of $84.78 and a 52 week high of $102.91.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 16th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Monday, April 15th. Life Storage’s payout ratio is 72.60%.

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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.

Read More: Balanced Fund

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

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