Teachers Retirement System of The State of Kentucky Sells 22,899 Shares of Life Storage, Inc. (NYSE:LSI)

Teachers Retirement System of The State of Kentucky reduced its stake in Life Storage, Inc. (NYSE:LSIGet Rating) by 35.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,386 shares of the real estate investment trust’s stock after selling 22,899 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Life Storage were worth $5,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LSI. Allworth Financial LP boosted its position in shares of Life Storage by 320.0% in the 1st quarter. Allworth Financial LP now owns 189 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 144 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Life Storage in the 1st quarter worth $28,000. Meeder Asset Management Inc. bought a new position in shares of Life Storage in the 1st quarter worth $28,000. Fifth Third Bancorp boosted its position in shares of Life Storage by 70.8% in the 1st quarter. Fifth Third Bancorp now owns 222 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 92 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Life Storage in the 1st quarter worth $32,000. 91.03% of the stock is currently owned by institutional investors.

Life Storage Trading Down 0.0 %

Life Storage stock opened at $117.64 on Friday. Life Storage, Inc. has a 52 week low of $100.66 and a 52 week high of $154.45. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a market capitalization of $9.93 billion, a P/E ratio of 31.29, a PEG ratio of 5.07 and a beta of 0.59. The stock has a 50-day simple moving average of $125.84 and a 200 day simple moving average of $125.63.

Life Storage (NYSE:LSIGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.44). Life Storage had a return on equity of 9.20% and a net margin of 33.90%. During the same period in the prior year, the firm posted $1.20 EPS. Analysts expect that Life Storage, Inc. will post 6.39 earnings per share for the current year.

Life Storage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Friday, July 15th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Thursday, July 14th. This is a boost from Life Storage’s previous quarterly dividend of $1.00. Life Storage’s payout ratio is currently 114.89%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Life Storage from $166.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Raymond James raised their price objective on Life Storage from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 16th. Citigroup raised their price objective on Life Storage to $154.00 in a research note on Monday, August 22nd. Bank of America downgraded Life Storage from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $141.00 to $133.00 in a research note on Tuesday, June 21st. Finally, Truist Financial raised their price objective on Life Storage from $132.00 to $138.00 and gave the stock a “hold” rating in a research note on Monday, August 15th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Life Storage has an average rating of “Moderate Buy” and a consensus target price of $145.36.

Insider Transactions at Life Storage

In other news, CEO Joseph Saffire sold 5,044 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $131.22, for a total transaction of $661,873.68. Following the completion of the sale, the chief executive officer now owns 61,305 shares in the company, valued at $8,044,442.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Life Storage Profile

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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 900 storage facilities in 30 states and in the province of 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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