Park Avenue Securities LLC Raises Position in Life Storage, Inc. (NYSE:LSI)

Park Avenue Securities LLC increased its holdings in Life Storage, Inc. (NYSE:LSI – Get Rating) by 27.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,522 shares of the real estate investment trust’s stock after acquiring an additional 539 shares during the period. Park Avenue Securities LLC’s holdings in Life Storage were worth $279,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LSI. Goldman Sachs Group Inc. grew its holdings in shares of Life Storage by 89.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,545,547 shares of the real estate investment trust’s stock valued at $172,575,000 after acquiring an additional 729,587 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Life Storage by 2,462.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 637,191 shares of the real estate investment trust’s stock valued at $71,149,000 after purchasing an additional 612,328 shares during the period. State Street Corp grew its holdings in Life Storage by 13.9% during the first quarter. State Street Corp now owns 4,499,491 shares of the real estate investment trust’s stock valued at $631,864,000 after purchasing an additional 547,484 shares during the period. Waterfront Capital Partners LLC boosted its holdings in shares of Life Storage by 254.7% in the second quarter. Waterfront Capital Partners LLC now owns 677,974 shares of the real estate investment trust’s stock worth $75,703,000 after acquiring an additional 486,845 shares during the period. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Life Storage by 18.5% in the first quarter. Centersquare Investment Management LLC now owns 2,478,966 shares of the real estate investment trust’s stock worth $348,121,000 after acquiring an additional 386,710 shares during the period. 89.61% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Joseph Saffire sold 6,130 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $99.73, for a total transaction of $611,344.90. Following the transaction, the chief executive officer now directly owns 71,921 shares of the company’s stock, valued at $7,172,681.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LSI shares. Truist Financial cut their price target on Life Storage from $138.00 to $120.00 in a report on Monday, December 5th. Evercore ISI lowered their price objective on Life Storage from $135.00 to $134.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 27th. KeyCorp lowered their price objective on Life Storage from $144.00 to $136.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 30th. StockNews.com upgraded Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. Finally, Raymond James lowered their price objective on Life Storage from $145.00 to $116.00 and set an “outperform” rating on the stock in a research report on Monday, January 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $128.00.

Life Storage Trading Up 0.2 %

NYSE LSI opened at $101.82 on Tuesday. The stock’s 50-day simple moving average is $102.63 and its two-hundred day simple moving average is $112.15. Life Storage, Inc. has a twelve month low of $94.02 and a twelve month high of $151.76. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 4.02 and a beta of 0.61.

Life Storage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 26th. Shareholders of record on Friday, January 13th will be given a dividend of $1.20 per share. This is an increase from Life Storage’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, January 12th. This represents a $4.80 dividend on an annualized basis and a yield of 4.71%. Life Storage’s dividend payout ratio (DPR) is presently 119.11%.

Life Storage Company Profile

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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.