Economy

Cadence Capital Management LLC Raises Stake in Life Storage Inc (LSI)

The rating was upgraded by KeyBanc Capital Markets to "Hold" on Monday, September 11. The fund owned 3,961 shares of the real estate investment trust's stock after buying an additional 1,324 shares during the period. It also increased its holding in Mid (NYSE:MAA) by 131,783 shares in the quarter, for a total of 310,928 shares, and has risen its stake in Corporate Office Properties Trust (NYSE:OFC). After posting $2.31 EPS for the previous quarter, Public Storage's analysts now forecast 12.99 % EPS growth.

Life Storage, Inc., formerly Sovran Self Storage, Inc., is a self-administered and self-managed real estate company. OLD National Bancorp IN grew its position in shares of Public Storage by 51.4% in the 1st quarter. With the last close down 3.16% from the two hundred day average, compared with the S&P 500 Index which has increased 0.04% over the same period. APG Asset Management US Inc. increased its position in Public Storage by 3.3% in the 2nd quarter. New Mexico Educational Retirement Board purchased a new stake in shares of Life Storage during the third quarter worth about $576,000. JPMorgan Chase & Co. increased its position in Public Storage by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Life Storage by 9.6% during the 1st quarter. Finally, Morgan Stanley increased its position in Public Storage by 16.3% in the 1st quarter. Westpac Banking Corp's holdings in Public Storage were worth $14,394,000 at the end of the most recent quarter.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 26th. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Advantus Capital Management Inc who had been investing in Public Storage for a number of months, seems to be less bullish one the $36.32 billion market cap company.

Advantus Capital Management Inc decreased its stake in Public Storage (PSA) by 23.62% based on its latest 2016Q4 regulatory filing with the SEC. The institutional investor held 4.74 million shares of the real estate investment trusts company at the end of 2016Q4, valued at $1.06B, down from 5.15M at the end of the previous reported quarter. The company had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. Life Storage's revenue for the quarter was up 24.1% compared to the same quarter a year ago. During the same period past year, the business posted $2.40 EPS. Shareholders of record on Wednesday, September 13th will be paid a $2.00 dividend.

Tracking other technical indicators, the 14-day RSI is presently standing at 49.85, the 7-day sits at 50.09, and the 3-day is resting at 63.73 for United Credit Ltd (UNITDCR.BO). The ex-dividend date is Tuesday, September 12th. Life Storage's payout ratio is 152.61%.

ILLEGAL ACTIVITY NOTICE: "Amalgamated Bank Raises Holdings in Public Storage (PSA)" was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & worldwide trademark & copyright laws. The original version of this piece can be accessed at https://www.truebluetribune.com/2017/09/16/public-storage-psa-upgraded-to-hold-at-zacks-investment-research.html. The stock of Life Storage Inc (NYSE:LSI) earned "Hold" rating by Jefferies on Thursday, August 17. The shares were purchased at an average price of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

LSI has been the topic of several recent analyst reports. FBR & Co set a $85.00 target price on shares of Life Storage and gave the stock a "hold" rating in a research note on Thursday, February 16th. Evercore ISI reissued an "underperform" rating and set a $204.00 price objective (up previously from $197.00) on shares of Public Storage in a report on Thursday. The company was maintained on Monday, July 24 by Jefferies.

Having a price of $75.30, Life Storage Inc (NYSE:LSI) traded 1.61% higher on the day.

Among 11 analysts covering LSI Corporation (NYSE:LSI), 1 have Buy rating, 3 Sell and 7 Hold. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action.

Public Storage is a real estate investment trust (REIT).



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