Ladenburg Thalmann Financial Services Inc. decreased its position in shares of Life Storage Inc (NYSE:LSI) by 17.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,556 shares of the real estate investment trust’s stock after selling 333 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Life Storage were worth $132,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LSI. PNC Financial Services Group Inc. acquired a new position in Life Storage during the third quarter worth $115,000. Daiwa Securities Group Inc. acquired a new position in Life Storage during the third quarter worth $151,000. Tower Research Capital LLC TRC acquired a new position in Life Storage during the third quarter worth $162,000. Riverhead Capital Management LLC acquired a new position in Life Storage during the third quarter worth $187,000. Finally, MSI Financial Services Inc acquired a new position in Life Storage during the third quarter worth $200,000. Institutional investors and hedge funds own 90.72% of the company’s stock.
Life Storage Inc (NYSE:LSI) opened at 84.17 on Monday. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 42.94 and a beta of 0.54. Life Storage Inc has a 1-year low of $77.00 and a 1-year high of $118.18. The company has a 50-day moving average of $85.04 and a 200-day moving average of $84.68.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, February 15th. The real estate investment trust reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.74. Life Storage had a net margin of 22.63% and a return on equity of 5.62%. On average, equities analysts predict that Life Storage Inc will post $2.32 earnings per share for the current year.
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A number of research firms have recently weighed in on LSI. Cantor Fitzgerald restated a “buy” rating and set a $95.00 price target on shares of Life Storage in a report on Monday, March 20th. SunTrust Banks, Inc. lowered shares of Life Storage from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Thursday, January 19th. TheStreet upgraded shares of Life Storage from a “c+” rating to a “b-” rating in a research note on Wednesday, February 22nd. FBR & Co set a $85.00 target price on shares of Life Storage and gave the company a “hold” rating in a research note on Thursday, February 16th. Finally, Robert W. Baird lowered shares of Life Storage from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $108.00 to $92.00 in a research note on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $98.36.
In related news, Director Mark G. Barberio purchased 1,000 shares of Life Storage stock in a transaction dated Tuesday, March 14th. The stock was bought at an average price of $82.97 per share, for a total transaction of $82,970.00. Following the completion of the acquisition, the director now directly owns 815 shares of the company’s stock, valued at $67,620.55. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Kenneth F. Myszka sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $86.42, for a total transaction of $432,100.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
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