Utah Retirement Systems increased its position in shares of Life Storage, Inc. (NYSE:LSI) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 9,596 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in Life Storage were worth $788,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LSI. Foresters Investment Management Company Inc. raised its stake in shares of Life Storage by 33.4% in the fourth quarter. Foresters Investment Management Company Inc. now owns 41,699 shares of the real estate investment trust’s stock worth $3,450,000 after buying an additional 10,435 shares in the last quarter. Tudor Investment Corp Et Al raised its stake in shares of Life Storage by 29.7% in the fourth quarter. Tudor Investment Corp Et Al now owns 7,787 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 1,781 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Life Storage by 91.7% in the fourth quarter. Franklin Resources Inc. now owns 25,500 shares of the real estate investment trust’s stock worth $2,174,000 after buying an additional 12,200 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Life Storage during the fourth quarter worth $226,000. Finally, Allianz Asset Management AG raised its stake in shares of Life Storage by 152.5% in the fourth quarter. Allianz Asset Management AG now owns 177,038 shares of the real estate investment trust’s stock worth $15,095,000 after buying an additional 106,926 shares in the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.

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

Shares of Life Storage, Inc. (NYSE:LSI) traded up 0.12% during trading on Friday, reaching $75.79. 32,866 shares of the company were exchanged. The stock has a 50-day moving average price of $74.83 and a 200-day moving average price of $81.62. Life Storage, Inc. has a one year low of $72.08 and a one year high of $107.71. The stock has a market capitalization of $3.51 billion, a PE ratio of 44.48 and a beta of 0.56.

Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.01. Life Storage had a return on equity of 3.68% and a net margin of 15.72%. The company had revenue of $128.30 million during the quarter, compared to analysts’ expectations of $128.19 million. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. Analysts forecast that Life Storage, Inc. will post $2.36 EPS for the current year.

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A number of brokerages have weighed in on LSI. Evercore ISI lowered shares of Life Storage to a “buy” rating in a research report on Friday, March 3rd. Cantor Fitzgerald restated a “buy” rating and issued a $95.00 target price on shares of Life Storage in a research report on Monday, March 20th. BMO Capital Markets restated a “buy” rating and issued a $96.00 target price on shares of Life Storage in a research report on Wednesday, March 22nd. Zacks Investment Research lowered shares of Life Storage from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Finally, TheStreet lowered shares of Life Storage from a “b-” rating to a “c+” rating in a report on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $92.33.

In related news, insider Paul T. Powell bought 700 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was purchased at an average cost of $73.04 per share, with a total value of $51,128.00. Following the transaction, the insider now owns 44,296 shares in the company, valued at approximately $3,235,379.84. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

About Life Storage

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. 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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