Macquarie Group Ltd. Lowers Stock Holdings in Life Storage, Inc. (NYSE:LSI)

Posted by Defense World Staff on Jun 18th, 2023

Macquarie Group Ltd. lowered its stake in Life Storage, Inc. (NYSE:LSI – Get Rating) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,040,941 shares of the real estate investment trust’s stock after selling 47,596 shares during the period. Macquarie Group Ltd. owned approximately 1.22% of Life Storage worth $102,493,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Life Storage in the first quarter worth about $32,000. Raleigh Capital Management Inc. increased its holdings in shares of Life Storage by 148.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 333 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 199 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Life Storage in the first quarter worth about $38,000. Accurate Wealth Management LLC purchased a new position in Life Storage during the 4th quarter valued at about $53,000. Finally, Atlas Capital Advisors LLC purchased a new position in Life Storage during the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 89.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LSI. KeyCorp boosted their price target on Life Storage from $136.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 5th. Raymond James boosted their price target on Life Storage from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, April 4th. Truist Financial boosted their price target on Life Storage from $120.00 to $122.00 in a report on Thursday. StockNews.com began coverage on Life Storage in a report on Wednesday. They set a “hold” rating on the stock. Finally, Wolfe Research downgraded Life Storage from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 12th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $129.11.

Insider Transactions at Life Storage

In other news, Director Arthur L. Havener, Jr. sold 2,625 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $127.76, for a total value of $335,370.00. Following the sale, the director now directly owns 14,901 shares of the company’s stock, valued at approximately $1,903,751.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Stephen R. Rusmisel sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $129.92, for a total value of $324,800.00. Following the transaction, the director now directly owns 17,801 shares of the company’s stock, valued at approximately $2,312,705.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur L. Havener, Jr. sold 2,625 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $127.76, for a total value of $335,370.00. Following the completion of the transaction, the director now directly owns 14,901 shares in the company, valued at $1,903,751.76. The disclosure for this sale can be found here. Insiders have sold a total of 10,161 shares of company stock valued at $1,320,037 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Life Storage Stock Performance

Shares of LSI opened at $129.78 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average price is $132.88 and its 200-day moving average price is $120.37. Life Storage, Inc. has a 52 week low of $94.02 and a 52 week high of $146.66. The stock has a market cap of $11.04 billion, a P/E ratio of 30.11 and a beta of 0.65.

Life Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Friday, April 14th were given a $1.20 dividend. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.70%. Life Storage’s dividend payout ratio is currently 111.37%.

Life Storage 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.