Life Storage, Inc. (NYSE:LSI) Updates Q3 Earnings Guidance

Paterniano Del Favero
Agosto 3, 2017

Manning & Napier Advisors LLC cut its position in shares of Life Storage, Inc. (NYSE:LSI) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LSI. Pensionfund Sabic raised its position in shares of Public Storage by 12.8% in the first quarter.

Public Storage is a real estate investment trust. Vanguard Group Inc. raised its position in Life Storage by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust's stock worth $116,000 after buying an additional 124 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Life Storage by 29.7% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust's stock valued at $126,000 after buying an additional 5 shares during the last quarter. Mascoma Wealth Management LLC boosted its stake in shares of Public Storage by 128.0% in the first quarter. National Pension Service now owns 118,533 shares of the real estate investment trust's stock valued at $26,006,000 after buying an additional 9,452 shares during the last quarter. They now have a neutral rating on the real estate investment trust's stock. Institutional investors and hedge funds own 79.64% of the company's stock. Public Storage has a 12 month low of $192.15 and a 12 month high of $234.63.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 26th. The company's stock had a trading volume of 302,760 shares. The company has a market capitalization of $35.13 billion, a PE ratio of 28.85 and a beta of 0.41. The company has a 50 day moving average of $73.95 and a 200-day moving average of $79.50. The real estate investment trust reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by $0.01. Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The firm had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. During the same period a year ago, the firm earned $2.40 earnings per share. For the quarter ending Dec-17, 6 analysts have a mean sales target of 134.62 million whilst for the year ending Dec-17, 7 analysts have a mean target of 533.57 million. Stockholders of record on Wednesday, September 13th will be paid a dividend of $2.00 per share. The ex-dividend date was Thursday, July 13th. Life Storage's dividend payout ratio (DPR) is 227.27%.

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Several brokerages have commented on LSI. Barclays PLC lifted their price target on Public Storage from $222.00 to $224.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 19th. Zacks Investment Research raised Public Storage from a "sell" rating to a "hold" rating in a research note on Thursday, June 1st. Finally, Jefferies Group LLC restated a hold rating and set a $222.00 target price on shares of Public Storage in a research report on Friday, July 14th. Bank of America Corporation cut shares of Life Storage from a buy rating to a neutral rating and set a $82.00 price target on the a report on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. $225.11's average target is 10.98% above currents $202.83 stock price.

In other news, insider Paul T. Powell bought 700 shares of Life Storage stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $207.11, for a total value of $12,426,600.00.

During last 5 trades the stock sticks nearly -2.35%.

News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage, Inc. with's FREE daily email newsletter. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.

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