Virginia Retirement Systems ET AL Acquires 55,400 Shares of Life Storage, Inc. (NYSE:LSI)

Virginia Retirement Systems ET AL grew its position in Life Storage, Inc. (NYSE:LSI) by 37.8% during the second quarter, Holdings Channel reports. The institutional investor owned 201,800 shares of the real estate investment trust’s stock after acquiring an additional 55,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Life Storage were worth $21,663,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Company LLC bought a new stake in shares of Life Storage in the 1st quarter valued at about $25,000. Parallel Advisors LLC boosted its holdings in shares of Life Storage by 38.7% in the 2nd quarter. Parallel Advisors LLC now owns 308 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 86 shares in the last quarter. Eaton Vance Management bought a new stake in shares of Life Storage in the 1st quarter valued at about $51,000. Lazard Asset Management LLC boosted its holdings in shares of Life Storage by 103.4% in the 1st quarter. Lazard Asset Management LLC now owns 895 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 455 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Life Storage by 64.4% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,713 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 671 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Several equities analysts recently commented on LSI shares. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research report on Friday, August 13th. KeyCorp raised their price target on shares of Life Storage from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, August 23rd. Truist raised their price target on shares of Life Storage from $105.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, August 30th. Truist Securities lifted their price target on shares of Life Storage from $105.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, August 30th. Finally, Berenberg Bank started coverage on shares of Life Storage in a research note on Thursday, October 7th. They issued a “buy” rating and a $143.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $120.13.

LSI traded up $1.24 on Thursday, hitting $124.64. 1,882 shares of the company’s stock were exchanged, compared to its average volume of 558,298. Life Storage, Inc. has a fifty-two week low of $70.29 and a fifty-two week high of $129.87. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $121.23 and a 200-day moving average price of $108.75. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 50.16, a P/E/G ratio of 7.19 and a beta of 0.34.

Life Storage (NYSE:LSI) last announced its quarterly earnings results on Tuesday, August 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.41). Life Storage had a net margin of 26.92% and a return on equity of 7.60%. On average, equities analysts predict that Life Storage, Inc. will post 4.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 26th. Shareholders of record on Wednesday, October 13th will be paid a dividend of $0.86 per share. The ex-dividend date is Tuesday, October 12th. This is a positive change from Life Storage’s previous quarterly dividend of $0.74. This represents a $3.44 dividend on an annualized basis and a yield of 2.76%. Life Storage’s dividend payout ratio is 74.56%.

Life Storage Profile

Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

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

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