Life Storage Inc (NYSE:LSI) Stake Lessened by Legal & General Group Plc

Legal & General Group Plc lowered its stake in Life Storage Inc (NYSE:LSI) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,814 shares of the real estate investment trust’s stock after selling 1,684 shares during the quarter. Legal & General Group Plc owned approximately 0.41% of Life Storage worth $17,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Life Storage by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,276,424 shares of the real estate investment trust’s stock worth $692,424,000 after purchasing an additional 354,370 shares during the last quarter. Vanguard Group Inc lifted its holdings in Life Storage by 5.1% in the 3rd quarter. Vanguard Group Inc now owns 7,276,424 shares of the real estate investment trust’s stock worth $692,424,000 after purchasing an additional 354,370 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Life Storage by 0.4% during the fourth quarter. Cohen & Steers Inc. now owns 6,676,829 shares of the real estate investment trust’s stock worth $620,878,000 after buying an additional 24,316 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Life Storage by 2.4% during the fourth quarter. BlackRock Inc. now owns 5,657,678 shares of the real estate investment trust’s stock worth $526,106,000 after buying an additional 132,304 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Life Storage by 14.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,672,431 shares of the real estate investment trust’s stock worth $155,519,000 after buying an additional 216,317 shares during the last quarter. 98.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LSI opened at $95.19 on Friday. Life Storage Inc has a fifty-two week low of $86.93 and a fifty-two week high of $102.91. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 4.22 and a beta of 0.46. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.83.

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Monday, April 15th. Life Storage’s dividend payout ratio (DPR) is 72.60%.

LSI has been the subject of a number of research analyst reports. ValuEngine lowered Life Storage from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Bank of America set a $105.00 price target on Life Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Zacks Investment Research cut Life Storage from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $97.86.

In other news, Director David L. Rogers sold 10,000 shares of the stock in a transaction on Friday, March 15th. The stock was 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 in the company, valued at $11,534,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

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

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