Life Storage Inc (NYSE:LSI) Sees Large Drop in Short Interest
Life Storage Inc (NYSE:LSI) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 1,542,500 shares, a decrease of 21.5% from the May 30th total of 1,965,000 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average trading volume of 414,800 shares, the short-interest ratio is currently 3.7 days.
In related news, Director Arthur L. Havener, Jr. sold 598 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $95.77, for a total value of $57,270.46. Following the sale, the director now directly owns 6,728 shares of the company’s stock, valued at $644,340.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in Life Storage by 47.1% in the 1st quarter. Northern Trust Corp now owns 924,685 shares of the real estate investment trust’s stock valued at $89,944,000 after acquiring an additional 296,148 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Life Storage by 1.3% during the 4th quarter. Macquarie Group Ltd. now owns 658,739 shares of the real estate investment trust’s stock worth $61,256,000 after acquiring an additional 8,600 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Life Storage by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 629,965 shares of the real estate investment trust’s stock worth $58,580,000 after acquiring an additional 42,438 shares during the last quarter. Norges Bank acquired a new position in shares of Life Storage during the 4th quarter worth approximately $44,902,000. Finally, WINTON GROUP Ltd boosted its stake in Life Storage by 32.9% in the 2nd quarter. WINTON GROUP Ltd now owns 259,350 shares of the real estate investment trust’s stock valued at $24,659,000 after purchasing an additional 64,224 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.
Life Storage stock traded down $0.72 during mid-day trading on Thursday, hitting $100.16. 640,166 shares of the company were exchanged, compared to its average volume of 380,686. Life Storage has a 1-year low of $88.92 and a 1-year high of $102.91. The company has a market capitalization of $4.68 billion, a P/E ratio of 18.18, a PEG ratio of 4.47 and a beta of 0.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.26 and a quick ratio of 0.26. The business has a fifty day moving average of $97.39.
Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). The firm had revenue of $136.52 million during the quarter, compared to analyst estimates of $136.41 million. Life Storage had a return on equity of 10.17% and a net margin of 37.37%. Life Storage’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 earnings per share. Research analysts anticipate that Life Storage will post 5.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Tuesday, July 16th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Monday, July 15th. Life Storage’s dividend payout ratio (DPR) is presently 72.60%.
About Life Storage
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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