Northpointe Capital LLC grew its position in shares of Life Storage Inc (NYSE:LSI) by 7.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,058 shares of the real estate investment trust’s stock after purchasing an additional 2,998 shares during the period. Northpointe Capital LLC owned approximately 0.09% of Life Storage worth $3,994,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LSI. Lindbrook Capital LLC purchased a new position in shares of Life Storage in the 4th quarter worth approximately $42,000. Advisor Group Inc. raised its holdings in Life Storage by 68.8% during the fourth quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 190 shares in the last quarter. Clean Yield Group acquired a new stake in Life Storage during the fourth quarter worth approximately $74,000. Pearl River Capital LLC acquired a new stake in Life Storage during the fourth quarter worth approximately $74,000. Finally, Ffcm LLC raised its holdings in Life Storage by 137.6% during the fourth quarter. Ffcm LLC now owns 1,818 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 1,053 shares in the last quarter. Hedge funds and other institutional investors own 98.09% of the company’s stock.
LSI stock traded down $0.33 during trading on Wednesday, hitting $94.19. The stock had a trading volume of 4,207 shares, compared to its average volume of 383,001. Life Storage Inc has a 1-year low of $84.78 and a 1-year high of $102.91. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 4.32 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Monday, April 15th. Life Storage’s dividend payout ratio (DPR) is 72.60%.
LSI has been the topic of a number of research analyst reports. Bank of America set a $105.00 price objective on shares of Life Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. ValuEngine downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, Evercore ISI downgraded Life Storage from an “in-line” rating to an “underperform” rating in a report on Tuesday, December 18th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Life Storage has a consensus rating of “Hold” and a consensus target price of $97.86.
In other Life Storage news, Director David L. Rogers sold 10,000 shares of Life Storage stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $96.12, for a total value of $961,200.00. Following the completion of the sale, the director now owns 120,000 shares in the company, valued at approximately $11,534,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by 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.
See Also: Systematic Risk
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