Northern Trust Corp Grows Position in Life Storage Inc (LSI)

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Northern Trust Corp grew its stake in shares of Life Storage Inc (NYSE:LSI) by 8.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 674,058 shares of the real estate investment trust’s stock after buying an additional 52,018 shares during the period. Northern Trust Corp owned 1.45% of Life Storage worth $56,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. King Luther Capital Management Corp boosted its position in Life Storage by 3.5% during the 1st quarter. King Luther Capital Management Corp now owns 44,435 shares of the real estate investment trust’s stock worth $3,711,000 after purchasing an additional 1,485 shares during the period. US Bancorp DE boosted its position in Life Storage by 4.7% during the 1st quarter. US Bancorp DE now owns 15,944 shares of the real estate investment trust’s stock worth $1,332,000 after purchasing an additional 717 shares during the period. Teachers Insurance & Annuity Association of America boosted its position in Life Storage by 19.6% during the 1st quarter. Teachers Insurance & Annuity Association of America now owns 59,970 shares of the real estate investment trust’s stock worth $5,009,000 after purchasing an additional 9,840 shares during the period. Thrivent Financial for Lutherans boosted its position in Life Storage by 32.1% during the 1st quarter. Thrivent Financial for Lutherans now owns 39,739 shares of the real estate investment trust’s stock worth $3,319,000 after purchasing an additional 9,650 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Life Storage by 6.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 576,770 shares of the real estate investment trust’s stock worth $48,172,000 after purchasing an additional 36,225 shares during the period. 95.22% of the stock is owned by institutional investors.

A number of analysts recently weighed in on LSI shares. TheStreet raised shares of Life Storage from a “c+” rating to a “b” rating in a research report on Wednesday, May 2nd. ValuEngine raised shares of Life Storage from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Bank of America reissued a “hold” rating and issued a $93.00 price objective (up from $90.00) on shares of Life Storage in a research report on Tuesday, May 8th. Citigroup reissued a “hold” rating and issued a $83.00 price objective (down from $95.00) on shares of Life Storage in a research report on Thursday, March 1st. Finally, SunTrust Banks upped their price objective on shares of Life Storage from $80.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, April 13th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a strong buy rating to the stock. Life Storage currently has an average rating of “Hold” and a consensus price target of $82.93.

In related news, President Kenneth F. Myszka sold 10,000 shares of the stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $91.02, for a total transaction of $910,200.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert J. Attea sold 27,679 shares of the stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $92.52, for a total transaction of $2,560,861.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,106 shares of company stock worth $6,835,588. Company insiders own 1.80% of the company’s stock.

Shares of Life Storage opened at $96.49 on Friday, MarketBeat.com reports. The stock has a market capitalization of $4.46 billion, a PE ratio of 18.17, a P/E/G ratio of 3.83 and a beta of 0.50. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.87. Life Storage Inc has a 1 year low of $69.00 and a 1 year high of $96.58.

Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.55). The company had revenue of $133.10 million during the quarter, compared to analyst estimates of $134.71 million. Life Storage had a net margin of 20.55% and a return on equity of 5.52%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. sell-side analysts forecast that Life Storage Inc will post 5.37 earnings per share for the current year.

About Life Storage

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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.

Institutional Ownership by Quarter for Life Storage (NYSE:LSI)

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