Long Pond Capital LP Buys Shares of 564,721 Life Storage Inc (NYSE:LSI)

Long Pond Capital LP bought a new stake in Life Storage Inc (NYSE:LSI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 564,721 shares of the real estate investment trust’s stock, valued at approximately $53,694,000. Life Storage comprises approximately 1.6% of Long Pond Capital LP’s holdings, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LSI. Geode Capital Management LLC lifted its stake in Life Storage by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 629,965 shares of the real estate investment trust’s stock valued at $58,580,000 after acquiring an additional 42,438 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Life Storage by 5.5% during the 1st quarter. Bank of Montreal Can now owns 26,351 shares of the real estate investment trust’s stock worth $2,563,000 after purchasing an additional 1,375 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Life Storage by 61.3% during the 1st quarter. Janus Henderson Group PLC now owns 118,276 shares of the real estate investment trust’s stock worth $11,505,000 after purchasing an additional 44,964 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Life Storage by 6.0% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,851 shares of the real estate investment trust’s stock worth $569,000 after purchasing an additional 330 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in shares of Life Storage by 55.2% during the 1st quarter. First Allied Advisory Services Inc. now owns 4,256 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 1,514 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Shares of Life Storage stock opened at $103.91 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The stock has a market cap of $4.82 billion, a P/E ratio of 18.86, a P/E/G ratio of 4.68 and a beta of 0.35. Life Storage Inc has a 12-month low of $88.92 and a 12-month high of $106.43. The business’s 50 day moving average is $102.46 and its 200-day moving average is $98.17.

Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.54). The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $142.96 million. Life Storage had a return on equity of 10.21% and a net margin of 37.17%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. On average, sell-side analysts expect that Life Storage Inc will post 5.59 EPS for the current year.

A number of equities research analysts have recently issued reports on the company. Robert W. Baird upgraded Life Storage from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $92.00 to $101.00 in a research note on Wednesday, August 21st. Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Evercore ISI upgraded Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price objective on the stock in a research note on Monday, May 20th. KeyCorp upped their price objective on Life Storage from $106.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Raymond James upgraded Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 price objective on the stock in a research note on Monday, July 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $102.56.

In related news, COO Edward F. Killeen sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $105.06, for a total transaction of $157,590.00. Following the transaction, the chief operating officer now directly owns 26,998 shares of the company’s stock, valued at approximately $2,836,409.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew J. Gregoire sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $105.04, for a total value of $315,120.00. Following the transaction, the chief financial officer now directly owns 52,224 shares in the company, valued at $5,485,608.96. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $679,690 over the last three months. 0.80% of the stock is owned by insiders.

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

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