Life Storage, Inc. (NYSE:LSI) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its stake in shares of Life Storage, Inc. (NYSE:LSIGet Rating) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,026 shares of the real estate investment trust’s stock after selling 118 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Life Storage were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its holdings in shares of Life Storage by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,644 shares of the real estate investment trust’s stock valued at $406,000 after acquiring an additional 90 shares during the period. Brinker Capital Investments LLC increased its holdings in shares of Life Storage by 2.8% in the 3rd quarter. Brinker Capital Investments LLC now owns 3,863 shares of the real estate investment trust’s stock valued at $428,000 after acquiring an additional 106 shares during the period. Bank of New Hampshire increased its holdings in shares of Life Storage by 55.4% in the 3rd 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 period. Truist Financial Corp increased its holdings in shares of Life Storage by 0.4% in the 2nd quarter. Truist Financial Corp now owns 28,726 shares of the real estate investment trust’s stock valued at $3,208,000 after acquiring an additional 115 shares during the period. Finally, CWM LLC increased its holdings in shares of Life Storage by 29.4% in the 2nd quarter. CWM LLC now owns 682 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 155 shares during the period. Institutional investors and hedge funds own 89.61% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LSI. UBS Group began coverage on shares of Life Storage in a research report on Monday, October 17th. They issued a “neutral” rating and a $106.00 price objective on the stock. KeyCorp lowered their price objective on shares of Life Storage from $144.00 to $136.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 30th. Raymond James lowered their price objective on shares of Life Storage from $145.00 to $116.00 and set an “outperform” rating on the stock in a research report on Monday, January 9th. Jefferies Financial Group lowered shares of Life Storage from a “buy” rating to a “hold” rating and lowered their price objective for the company from $123.00 to $97.00 in a research report on Monday, January 2nd. Finally, Evercore ISI lowered their price objective on shares of 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Life Storage currently has a consensus rating of “Hold” and a consensus target price of $128.00.

Life Storage Price Performance

Life Storage stock opened at $102.73 on Wednesday. Life Storage, Inc. has a 52 week low of $94.02 and a 52 week 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 firm’s 50-day simple moving average is $102.56 and its 200 day simple moving average is $112.07. The firm has a market capitalization of $8.73 billion, a PE ratio of 25.49, a P/E/G ratio of 4.03 and a beta of 0.61.

Life Storage Increases Dividend

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

Further Reading

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

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