First Trust Advisors LP Has $2.05 Million Stake in Life Storage, Inc. (LSI)

First Trust Advisors LP reduced its holdings in shares of Life Storage, Inc. (NYSE:LSI) by 28.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,620 shares of the real estate investment trust’s stock after selling 11,144 shares during the quarter. First Trust Advisors LP owned 0.06% of Life Storage worth $2,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Anchor Capital Advisors LLC grew its holdings in shares of Life Storage by 1.5% during the first quarter. Anchor Capital Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 50 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of Life Storage by 1.1% during the first quarter. Utah Retirement Systems now owns 9,596 shares of the real estate investment trust’s stock valued at $788,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Life Storage by 9.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 124 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Life Storage by 0.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,944 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 135 shares during the last quarter. Finally, Advantus Capital Management Inc grew its holdings in shares of Life Storage by 3.2% during the first quarter. Advantus Capital Management Inc now owns 5,952 shares of the real estate investment trust’s stock valued at $489,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Life Storage, Inc. (LSI) opened at 80.07 on Tuesday. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 70.05 and a beta of 0.57. Life Storage, Inc. has a 52-week low of $69.00 and a 52-week high of $95.05. The company’s 50 day moving average is $73.98 and its 200-day moving average is $77.74.

Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The firm had revenue of $132.78 million for the quarter, compared to analysts’ expectations of $132.62 million. During the same period last year, the company posted $1.32 earnings per share. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities analysts anticipate that Life Storage, Inc. will post $1.92 EPS for the current fiscal year.

In related news, CFO Andrew J. Gregoire purchased 1,500 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $71.65 per share, with a total value of $107,475.00. Following the acquisition, the chief financial officer now directly owns 48,173 shares in the company, valued at approximately $3,451,595.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul T. Powell purchased 700 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $71.57 per share, for a total transaction of $50,099.00. Following the acquisition, the insider now owns 44,996 shares in the company, valued at $3,220,363.72. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,190 shares of company stock worth $230,042 over the last three months. 1.90% of the stock is currently owned by insiders.

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A number of research analysts have recently issued reports on LSI shares. Zacks Investment Research upgraded shares of Life Storage from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. BidaskClub cut shares of Life Storage from a “hold” rating to a “sell” rating in a report on Saturday, September 2nd. Wells Fargo & Company reiterated a “market perform” rating and set a $78.00 price objective (down from $85.00) on shares of Life Storage in a report on Saturday, July 22nd. UBS AG reiterated a “neutral” rating and set a $75.00 price objective (down from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. Finally, Evercore ISI cut shares of Life Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the company from $77.00 to $71.00 in a report on Monday, August 7th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $78.64.

Life Storage Profile

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.

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

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