Pensionfund DSM Netherlands cut its holdings in shares of Life Storage Inc (NYSE:LSI) by 41.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,500 shares of the real estate investment trust’s stock after selling 9,000 shares during the period. Pensionfund DSM Netherlands’ holdings in Life Storage were worth $1,216,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of LSI. MML Investors Services LLC purchased a new position in Life Storage in the 3rd quarter valued at $222,000. Janus Henderson Group PLC grew its position in Life Storage by 49.0% in the 3rd quarter. Janus Henderson Group PLC now owns 59,000 shares of the real estate investment trust’s stock valued at $5,614,000 after buying an additional 19,400 shares during the last quarter. Martingale Asset Management L P grew its position in Life Storage by 56.0% in the 3rd quarter. Martingale Asset Management L P now owns 9,204 shares of the real estate investment trust’s stock valued at $876,000 after buying an additional 3,304 shares during the last quarter. BlackRock Inc. grew its position in Life Storage by 1.5% in the 3rd quarter. BlackRock Inc. now owns 5,525,374 shares of the real estate investment trust’s stock valued at $525,796,000 after buying an additional 83,927 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Life Storage in the 3rd quarter valued at $587,000. Hedge funds and other institutional investors own 98.12% of the company’s stock.
In other Life Storage news, Director David L. Rogers sold 10,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $11,534,400. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on the stock. Evercore ISI lowered shares of Life Storage from an “in-line” rating to an “underperform” rating in a research report on Tuesday, December 18th. They noted that the move was a valuation call. ValuEngine lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America set a $105.00 price objective on shares of Life Storage and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $97.86.
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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.
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