Employees Retirement System of Texas Raises Stake in Life Storage Inc (LSI)

Employees Retirement System of Texas lifted its stake in shares of Life Storage Inc (NYSE:LSI) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,000 shares of the real estate investment trust’s stock after acquiring an additional 11,000 shares during the period. Employees Retirement System of Texas’ holdings in Life Storage were worth $9,020,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. First Trust Advisors LP lifted its stake in shares of Life Storage by 1,612.7% in the 3rd quarter. First Trust Advisors LP now owns 121,536 shares of the real estate investment trust’s stock valued at $11,565,000 after purchasing an additional 114,440 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Life Storage by 2.5% in the 3rd quarter. Arizona State Retirement System now owns 33,088 shares of the real estate investment trust’s stock valued at $3,149,000 after purchasing an additional 792 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Life Storage by 1,618.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 317,057 shares of the real estate investment trust’s stock valued at $30,172,000 after purchasing an additional 298,605 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Life Storage by 1.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 57,521 shares of the real estate investment trust’s stock valued at $5,474,000 after purchasing an additional 864 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Life Storage by 37.0% in the 3rd quarter. Sterling Capital Management LLC now owns 25,180 shares of the real estate investment trust’s stock valued at $2,396,000 after purchasing an additional 6,800 shares during the last quarter. 99.35% of the stock is owned by institutional investors.

Get Life Storage alerts:

LSI opened at $97.10 on Thursday. Life Storage Inc has a 12-month low of $79.80 and a 12-month high of $102.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.87. The stock has a market cap of $4.54 billion, a P/E ratio of 17.76, a PEG ratio of 4.31 and a beta of 0.51.

In related news, COO Edward F. Killeen sold 4,006 shares of the stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $101.10, for a total transaction of $405,006.60. Following the transaction, the chief operating officer now owns 24,763 shares of the company’s stock, valued at approximately $2,503,539.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Edward F. Killeen sold 1,306 shares of the company’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $101.99, for a total value of $133,198.94. Following the sale, the chief operating officer now owns 24,763 shares in the company, valued at approximately $2,525,578.37. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on LSI shares. ValuEngine raised Life Storage from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Bank of America set a $105.00 price target on Life Storage and gave the company a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Finally, Evercore ISI lowered Life Storage from an “in-line” rating to an “underperform” rating in a research note on Tuesday, December 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.88.

TRADEMARK VIOLATION WARNING: “Employees Retirement System of Texas Raises Stake in Life Storage Inc (LSI)” was published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this report on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/4203144/employees-retirement-system-of-texas-raises-stake-in-life-storage-inc-lsi.html.

Life Storage Profile

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.

Recommended Story: Penny Stocks, Risk and Reward Factors

Want to see what other hedge funds are holding LSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Life Storage Inc (NYSE:LSI).