Asset Management One Co. Ltd. Sells 4,580 Shares of Life Storage, Inc. (NYSE:LSI)

Asset Management One Co. Ltd. lessened its position in shares of Life Storage, Inc. (NYSE:LSIGet Rating) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 174,984 shares of the real estate investment trust’s stock after selling 4,580 shares during the quarter. Asset Management One Co. Ltd. owned 0.21% of Life Storage worth $19,381,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in Life Storage during the first quarter valued at $32,000. Bank of New Hampshire increased its position in Life Storage by 55.4% during the third quarter. Bank of New Hampshire now owns 300 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 107 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Life Storage during the first quarter valued at $38,000. Atlas Capital Advisors LLC purchased a new stake in Life Storage in the second quarter worth about $53,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Life Storage in the third quarter worth about $56,000. Hedge funds and other institutional investors own 89.61% of the company’s stock.

Insider Activity

In other news, CEO Joseph Saffire sold 6,130 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $99.73, for a total value of $611,344.90. Following the completion of the sale, the chief executive officer now directly owns 71,921 shares of the company’s stock, valued at approximately $7,172,681.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Life Storage Price Performance

Shares of Life Storage stock opened at $102.73 on Wednesday. The stock has a 50 day moving average of $102.56 and a 200 day moving average of $112.07. Life Storage, Inc. has a 12 month low of $94.02 and a 12 month high of $151.76. The firm has a market cap of $8.73 billion, a PE ratio of 25.49, a PEG ratio of 4.03 and a beta of 0.61. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90.

Life Storage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 26th. Stockholders of record on Friday, January 13th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.67%. This is a positive change from Life Storage’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, January 12th. Life Storage’s dividend payout ratio (DPR) is presently 119.11%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial reduced their price target on Life Storage from $138.00 to $120.00 in a research report on Monday, December 5th. UBS Group began coverage on Life Storage in a research report on Monday, October 17th. They issued a “neutral” rating and a $106.00 price target for the company. Raymond James cut their target price on Life Storage from $145.00 to $116.00 and set an “outperform” rating for the company in a research report on Monday, January 9th. Jefferies Financial Group cut Life Storage from a “buy” rating to a “hold” rating and cut their target price for the stock from $123.00 to $97.00 in a research report on Monday, January 2nd. Finally, StockNews.com upgraded Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $128.00.

About Life Storage

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Life Storage, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

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

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