King Luther Capital Management Corp lessened its stake in Life Storage Inc (NYSE:LSI) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,525 shares of the real estate investment trust’s stock after selling 770 shares during the quarter. King Luther Capital Management Corp owned about 0.07% of Life Storage worth $3,164,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC acquired a new stake in Life Storage in the fourth quarter worth $42,000. Advisor Group Inc. increased its holdings in shares of Life Storage by 68.8% during the fourth quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 190 shares during the period. Pearl River Capital LLC acquired a new position in shares of Life Storage during the fourth quarter valued at $74,000. Quadrant Capital Group LLC increased its holdings in shares of Life Storage by 867.0% during the first quarter. Quadrant Capital Group LLC now owns 938 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 841 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Life Storage during the first quarter valued at $98,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.
In other Life Storage news, Director Arthur L. Havener, Jr. sold 598 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $95.77, for a total transaction of $57,270.46. Following the completion of the sale, the director now directly owns 6,728 shares in the company, valued at approximately $644,340.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). Life Storage had a net margin of 37.37% and a return on equity of 10.17%. The company had revenue of $136.52 million during the quarter, compared to analyst estimates of $136.41 million. During the same quarter last year, the business earned $1.27 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Life Storage Inc will post 5.59 earnings per share for the current fiscal year.
A number of research analysts have recently commented on the company. Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Bank of America lowered Life Storage from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $105.00 to $99.00 in a report on Friday, March 8th. Evercore ISI raised Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price target on the stock in a report on Monday, May 20th. Finally, ValuEngine lowered Life Storage from a “buy” rating to a “hold” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $98.13.
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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