Amalgamated Bank lowered its holdings in Life Storage, Inc. (NYSE:LSI – Get Rating) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,670 shares of the real estate investment trust’s stock after selling 2,069 shares during the period. Amalgamated Bank owned approximately 0.07% of Life Storage worth $7,958,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in LSI. Pictet Asset Management SA lifted its holdings in shares of Life Storage by 5.0% during the 4th quarter. Pictet Asset Management SA now owns 31,003 shares of the real estate investment trust’s stock worth $4,749,000 after acquiring an additional 1,466 shares during the period. Covestor Ltd bought a new stake in shares of Life Storage during the 4th quarter worth approximately $41,000. Allianz Asset Management GmbH lifted its holdings in shares of Life Storage by 199.0% during the 4th quarter. Allianz Asset Management GmbH now owns 339,829 shares of the real estate investment trust’s stock worth $52,055,000 after acquiring an additional 226,191 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Life Storage by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,107,099 shares of the real estate investment trust’s stock worth $169,586,000 after acquiring an additional 64,603 shares during the period. Finally, Level Four Advisory Services LLC lifted its holdings in shares of Life Storage by 3.6% during the 4th quarter. Level Four Advisory Services LLC now owns 2,354 shares of the real estate investment trust’s stock worth $361,000 after acquiring an additional 82 shares during the period. Institutional investors own 91.03% of the company’s stock.
Analyst Ratings Changes
LSI has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Life Storage to $154.00 in a research report on Monday, August 22nd. Bank of America cut shares of Life Storage from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $141.00 to $133.00 in a research report on Tuesday, June 21st. Truist Financial upped their price objective on shares of Life Storage from $132.00 to $138.00 and gave the stock a “hold” rating in a research report on Monday, August 15th. Jefferies Financial Group lowered their price objective on shares of Life Storage from $166.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Finally, Raymond James upped their price objective on shares of Life Storage from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Life Storage currently has an average rating of “Moderate Buy” and an average target price of $145.36.
Insider Transactions at Life Storage
Life Storage Trading Down 0.0 %
Shares of NYSE LSI opened at $117.64 on Friday. Life Storage, Inc. has a 52-week low of $100.66 and a 52-week high of $154.45. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a 50 day moving average price of $125.84 and a two-hundred day moving average price of $125.63. The stock has a market cap of $9.93 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 5.07 and a beta of 0.59.
Life Storage (NYSE:LSI – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.44). Life Storage had a return on equity of 9.20% and a net margin of 33.90%. During the same quarter last year, the firm earned $1.20 EPS. As a group, equities analysts forecast that Life Storage, Inc. will post 6.39 EPS for the current year.
Life Storage Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Friday, July 15th were given a dividend of $1.08 per share. The ex-dividend date was Thursday, July 14th. This is a boost from Life Storage’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 3.67%. Life Storage’s dividend payout ratio is 114.89%.
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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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