JPMorgan Chase & Co. Cuts Holdings in Life Storage, Inc. (NYSE:LSI)

JPMorgan Chase & Co. decreased its position in shares of Life Storage, Inc. (NYSE:LSIGet Rating) by 18.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,698 shares of the real estate investment trust’s stock after selling 155,497 shares during the period. JPMorgan Chase & Co.’s holdings in Life Storage were worth $76,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LSI. State Street Corp grew its position in shares of Life Storage by 13.9% during the first quarter. State Street Corp now owns 4,499,491 shares of the real estate investment trust’s stock valued at $631,864,000 after purchasing an additional 547,484 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Life Storage by 18.5% in the 1st quarter. Centersquare Investment Management LLC now owns 2,478,966 shares of the real estate investment trust’s stock valued at $348,121,000 after acquiring an additional 386,710 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Life Storage by 66.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 815,960 shares of the real estate investment trust’s stock valued at $114,585,000 after acquiring an additional 325,597 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Life Storage by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 12,423,958 shares of the real estate investment trust’s stock valued at $1,744,696,000 after acquiring an additional 278,315 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Life Storage by 40.0% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 958,420 shares of the real estate investment trust’s stock valued at $134,591,000 after acquiring an additional 273,712 shares during the last quarter. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LSI shares. Raymond James increased their price target on shares of Life Storage from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, August 16th. UBS Group initiated coverage on shares of Life Storage in a research note on Monday, October 17th. They issued a “neutral” rating and a $106.00 price objective for the company. StockNews.com initiated coverage on shares of Life Storage in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Evercore ISI decreased their price objective on shares of Life Storage from $135.00 to $134.00 and set an “in-line” rating for the company in a research note on Tuesday, September 27th. Finally, Citigroup raised their price objective on shares of Life Storage to $154.00 in a research note on Monday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $141.00.

Life Storage Stock Performance

Life Storage stock opened at $106.24 on Thursday. The company has a 50 day moving average price of $107.39 and a 200-day moving average price of $115.22. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.30. Life Storage, Inc. has a fifty-two week low of $97.50 and a fifty-two week high of $154.45. The company has a market capitalization of $9.03 billion, a PE ratio of 26.36, a P/E/G ratio of 4.57 and a beta of 0.62.

Life Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Investors of record on Friday, October 14th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.07%. The ex-dividend date was Thursday, October 13th. Life Storage’s payout ratio is 107.20%.

Life Storage Company 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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