Public Employees Retirement System of Ohio cut its holdings in Life Storage Inc (NYSE:LSI) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,351 shares of the real estate investment trust’s stock after selling 1,622 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.15% of Life Storage worth $6,356,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its stake in Life Storage by 114.6% during the 3rd quarter. Cohen & Steers Inc. now owns 6,652,513 shares of the real estate investment trust’s stock valued at $633,053,000 after acquiring an additional 3,552,687 shares during the period. Vanguard Group Inc lifted its stake in Life Storage by 5.1% during the 3rd quarter. Vanguard Group Inc now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after acquiring an additional 354,370 shares during the period. Vanguard Group Inc. increased its position in shares of Life Storage by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after purchasing an additional 354,370 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Life Storage by 80.7% during the 3rd quarter. Renaissance Technologies LLC now owns 516,928 shares of the real estate investment trust’s stock valued at $49,191,000 after purchasing an additional 230,928 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Life Storage by 14.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,672,431 shares of the real estate investment trust’s stock valued at $155,519,000 after purchasing an additional 216,317 shares during the last quarter. 98.09% of the stock is currently owned by hedge funds and other institutional investors.
LSI traded up $1.97 during trading on Wednesday, reaching $95.09. 313,045 shares of the company traded hands, compared to its average volume of 364,852. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.26 and a quick ratio of 0.26. Life Storage Inc has a 12-month low of $85.33 and a 12-month high of $102.91. The firm has a market cap of $4.35 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 4.27 and a beta of 0.46.
LSI has been the subject of several research reports. Zacks Investment Research lowered shares of Life Storage from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. ValuEngine lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Bank of America set a $105.00 target price on shares of Life Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $97.86.
In other Life Storage news, Director David L. Rogers sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $96.12, for a total transaction of $961,200.00. Following the completion of the sale, the director now directly 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 SEC, which is available at this link. 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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