California Public Employees Retirement System raised its stake in shares of Life Storage Inc (NYSE:LSI) by 5.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,192 shares of the real estate investment trust’s stock after acquiring an additional 5,245 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Life Storage worth $8,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LSI. Raymond James & Associates increased its position in Life Storage by 5.5% during the 4th quarter. Raymond James & Associates now owns 13,321 shares of the real estate investment trust’s stock worth $1,186,000 after purchasing an additional 689 shares during the period. US Bancorp DE grew its holdings in shares of Life Storage by 4.7% in the 1st quarter. US Bancorp DE now owns 15,944 shares of the real estate investment trust’s stock worth $1,332,000 after acquiring an additional 717 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Life Storage by 11.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,378 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 734 shares during the period. BB&T Securities LLC lifted its stake in Life Storage by 24.5% in the 4th quarter. BB&T Securities LLC now owns 4,471 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 881 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Life Storage by 18.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the real estate investment trust’s stock valued at $493,000 after buying an additional 900 shares in the last quarter. 95.22% of the stock is owned by hedge funds and other institutional investors.

Shares of Life Storage opened at $96.79 on Tuesday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market cap of $4.49 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 3.86 and a beta of 0.50. Life Storage Inc has a 1-year low of $69.00 and a 1-year high of $97.12.

Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.55). The business had revenue of $133.10 million for the quarter, compared to analyst estimates of $134.71 million. Life Storage had a net margin of 20.55% and a return on equity of 5.52%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. analysts predict that Life Storage Inc will post 5.37 EPS for the current fiscal year.

In other Life Storage news, President Kenneth F. Myszka sold 5,476 shares of the firm’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $91.00, for a total value of $498,316.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David L. Rogers sold 26,951 shares of the firm’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $92.84, for a total transaction of $2,502,130.84. The disclosure for this sale can be found here. Insiders sold 74,106 shares of company stock valued at $6,835,588 over the last quarter. Insiders own 1.80% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a research note on Thursday, March 29th. Bank of America reissued a “hold” rating and set a $93.00 price target (up previously from $90.00) on shares of Life Storage in a research note on Tuesday, May 8th. ValuEngine lowered Life Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Cantor Fitzgerald set a $84.00 price target on Life Storage and gave the stock a “hold” rating in a research note on Thursday, March 8th. Finally, Citigroup reaffirmed a “hold” rating and issued a $83.00 target price (down from $95.00) on shares of Life Storage in a research report on Thursday, March 1st. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $82.93.

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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.

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

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