Life Storage, Inc. (LSI) Position Cut by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its position in shares of Life Storage, Inc. (NYSE:LSI) by 35.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,266 shares of the real estate investment trust’s stock after selling 29,200 shares during the period. Manning & Napier Advisors LLC owned 0.11% of Life Storage worth $4,274,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. boosted its stake in Life Storage by 0.8% during the second quarter. Westwood Holdings Group Inc. now owns 9,770 shares of the real estate investment trust’s stock worth $724,000 after buying an additional 75 shares during the period. PNC Financial Services Group Inc. boosted its stake in 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 worth $116,000 after buying an additional 124 shares during the period. Capstone Asset Management Co. boosted its stake in Life Storage by 3.5% during the second quarter. Capstone Asset Management Co. now owns 5,673 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 190 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Life Storage by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 13,914 shares of the real estate investment trust’s stock worth $1,031,000 after buying an additional 210 shares during the period. Finally, BB&T Securities LLC boosted its stake in Life Storage by 3.3% during the second quarter. BB&T Securities LLC now owns 7,089 shares of the real estate investment trust’s stock worth $525,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 96.75% of the company’s stock.

Life Storage, Inc. (NYSE:LSI) traded down $1.02 during mid-day trading on Monday, reaching $88.68. 666,200 shares of the company’s stock were exchanged, compared to its average volume of 488,136. The firm has a market capitalization of $4,126.88, a PE ratio of 16.76, a P/E/G ratio of 3.72 and a beta of 0.59. Life Storage, Inc. has a 12 month low of $69.00 and a 12 month high of $89.85. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Friday, October 13th were issued a $1.00 dividend. The ex-dividend date was Thursday, October 12th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.51%. Life Storage’s payout ratio is 199.01%.

Life Storage declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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LSI has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “sell” rating and set a $73.00 target price on shares of Life Storage in a research note on Thursday, November 2nd. DA Davidson increased their target price on shares of Life Storage to $85.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Friday, November 3rd. B. Riley reaffirmed a “sell” rating on shares of Life Storage in a research note on Wednesday, November 1st. Finally, BidaskClub lowered shares of Life Storage from a “hold” rating to a “sell” rating in a research note on Saturday, September 2nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $78.79.

About Life Storage

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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