Hancock Whitney Corp grew its holdings in Life Storage Inc (NYSE:LSI) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,596 shares of the real estate investment trust’s stock after buying an additional 121 shares during the quarter. Hancock Whitney Corp’s holdings in Life Storage were worth $2,230,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. 1 North Wealth Services LLC purchased a new stake in shares of Life Storage during the third quarter worth approximately $30,000. AdvisorNet Financial Inc acquired a new position in Life Storage during the third quarter worth $46,000. Quadrant Capital Group LLC boosted its stake in Life Storage by 121.7% during the third quarter. Quadrant Capital Group LLC now owns 878 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 482 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in Life Storage during the fourth quarter worth $97,000. Finally, McCollum Christoferson Group LLC acquired a new position in Life Storage during the third quarter worth $211,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
A number of equities analysts have weighed in on the company. Bank of America raised Life Storage from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $102.00 to $111.00 in a research note on Monday, January 6th. Stifel Nicolaus raised Life Storage from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $106.00 to $114.00 in a research note on Thursday, October 31st. Finally, Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $111.50.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Tuesday, January 14th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a $4.28 dividend on an annualized basis and a yield of 3.65%. This is a positive change from Life Storage’s previous quarterly dividend of $1.00. Life Storage’s payout ratio is 77.68%.
Life Storage Company 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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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