Toronto Dominion Bank increased its position in Life Storage, Inc. (NYSE:LSI – Get Rating) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,946 shares of the real estate investment trust’s stock after purchasing an additional 106 shares during the period. Toronto Dominion Bank’s holdings in Life Storage were worth $991,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of LSI. Brown Brothers Harriman & Co. purchased a new position in Life Storage in the 1st quarter worth about $32,000. Bank of New Hampshire raised its position in 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 worth $33,000 after buying an additional 107 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Life Storage in the 1st quarter worth about $38,000. Huntington National Bank raised its position in Life Storage by 71.3% in the 3rd quarter. Huntington National Bank now owns 454 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 189 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in Life Storage in the 2nd quarter worth about $53,000. Institutional investors own 89.61% of the company’s stock.
Insiders Place Their Bets
In other Life Storage news, CEO Joseph Saffire sold 6,130 shares of the company’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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.
Life Storage Trading Down 0.7 %
Life Storage Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 26th. Shareholders of record on Friday, January 13th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.88%. This is an increase from Life Storage’s previous quarterly dividend of $1.08. The ex-dividend date was Thursday, January 12th. Life Storage’s dividend payout ratio is presently 119.11%.
Analyst Ratings Changes
A number of brokerages have weighed in on LSI. Raymond James decreased 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. Truist Financial reduced their price target on shares of Life Storage from $138.00 to $120.00 in a research report on Monday, December 5th. Jefferies Financial Group lowered shares of Life Storage from a “buy” rating to a “hold” rating and reduced their price target for the company from $123.00 to $97.00 in a research report on Monday, January 2nd. StockNews.com raised shares of Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. Finally, Citigroup lowered shares of Life Storage from a “buy” rating to a “neutral” rating and set a $126.00 price target for the company. in a research report on Wednesday, February 8th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $125.20.
Life Storage Company Profile
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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