Principal Financial Group Inc. Buys 3,340 Shares of Life Storage, Inc. (NYSE:LSI)

Principal Financial Group Inc. increased its stake in Life Storage, Inc. (NYSE:LSI) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,672 shares of the real estate investment trust’s stock after buying an additional 3,340 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of Life Storage worth $31,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LSI. First Trust Advisors LP lifted its position in Life Storage by 615.6% in the first quarter. First Trust Advisors LP now owns 63,199 shares of the real estate investment trust’s stock worth $6,147,000 after buying an additional 54,368 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Life Storage by 57.5% in the second quarter. Rafferty Asset Management LLC now owns 6,040 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 2,205 shares during the last quarter. Citigroup Inc. lifted its position in Life Storage by 21.1% in the second quarter. Citigroup Inc. now owns 154,346 shares of the real estate investment trust’s stock worth $16,569,000 after buying an additional 26,875 shares during the last quarter. Cibc World Markets Corp lifted its position in Life Storage by 265.1% in the second quarter. Cibc World Markets Corp now owns 29,583 shares of the real estate investment trust’s stock worth $3,176,000 after buying an additional 21,480 shares during the last quarter. Finally, abrdn plc lifted its position in Life Storage by 13.3% in the second quarter. abrdn plc now owns 116,556 shares of the real estate investment trust’s stock worth $12,513,000 after buying an additional 13,692 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Shares of Life Storage stock opened at $138.80 on Friday. The firm has a market cap of $11.38 billion, a P/E ratio of 49.05, a P/E/G ratio of 6.52 and a beta of 0.45. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. Life Storage, Inc. has a 12 month low of $79.33 and a 12 month high of $154.45. The stock’s fifty day moving average price is $139.88 and its 200-day moving average price is $127.22.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.39). Life Storage had a net margin of 29.53% and a return on equity of 8.17%. During the same period in the previous year, the business posted $1.01 EPS. Analysts forecast that Life Storage, Inc. will post 5.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 26th. Shareholders of record on Friday, January 14th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, January 13th. This is a positive change from Life Storage’s previous quarterly dividend of $0.86. Life Storage’s payout ratio is 141.34%.

LSI has been the subject of a number of analyst reports. Wolfe Research started coverage on Life Storage in a research report on Friday, December 17th. They issued an “outperform” rating and a $186.00 price target for the company. KeyCorp increased their target price on Life Storage from $146.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday. Berenberg Bank started coverage on Life Storage in a research note on Thursday, October 7th. They issued a “buy” rating and a $143.00 target price on the stock. Raymond James increased their target price on Life Storage from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, December 2nd. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Life Storage in a research note on Friday, November 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Life Storage has an average rating of “Buy” and an average price target of $143.70.

In other Life Storage news, Director David L. Rogers sold 25,000 shares of Life Storage stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $131.18, for a total value of $3,279,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph Saffire sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 20th. The stock was sold at an average price of $146.39, for a total value of $585,560.00. The disclosure for this sale can be found here. Insiders sold 51,500 shares of company stock worth $6,947,560 in the last quarter. 0.90% of the stock is owned by insiders.

Life Storage Profile

Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

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

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