Vestmark Advisory Solutions Inc. Buys Shares of 1,863 Life Storage, Inc. (NYSE:LSI)

Posted by Defense World Staff on Aug 19th, 2023

Vestmark Advisory Solutions Inc. bought a new stake in Life Storage, Inc. (NYSE:LSI – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,863 shares of the real estate investment trust’s stock, valued at approximately $244,000.

Several other institutional investors have also recently made changes to their positions in LSI. Raymond James Financial Services Advisors Inc. increased its position in shares of Life Storage by 116.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,125 shares of the real estate investment trust’s stock worth $1,141,000 after purchasing an additional 4,365 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Life Storage by 23.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,423 shares of the real estate investment trust’s stock worth $621,000 after purchasing an additional 840 shares during the last quarter. Cetera Advisor Networks LLC increased its position in shares of Life Storage by 30.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,834 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 655 shares during the last quarter. Sei Investments Co. increased its position in shares of Life Storage by 2.9% during the 1st quarter. Sei Investments Co. now owns 208,609 shares of the real estate investment trust’s stock worth $29,266,000 after purchasing an additional 5,831 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Life Storage by 2.5% during the 1st quarter. Allianz Asset Management GmbH now owns 348,298 shares of the real estate investment trust’s stock worth $48,911,000 after purchasing an additional 8,469 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LSI shares. Truist Financial boosted their price target on Life Storage from $120.00 to $122.00 in a research report on Thursday, June 15th. Stifel Nicolaus boosted their target price on Life Storage from $140.00 to $145.00 in a report on Friday, May 12th. Finally, StockNews.com started coverage on Life Storage in a report on Thursday. They set a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $128.63.

Get Our Latest Analysis on Life Storage

Life Storage Stock Down 0.8 %

LSI stock opened at $133.10 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 30.88 and a beta of 0.65. The business’s fifty day moving average price is $132.64 and its two-hundred day moving average price is $129.94. Life Storage, Inc. has a fifty-two week low of $94.02 and a fifty-two week high of $146.66.

Life Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Shareholders of record on Thursday, July 13th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, July 12th. Life Storage’s payout ratio is 83.53%.

Insiders Place Their Bets

In other Life Storage news, Director Arthur L. Havener, Jr. sold 2,625 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $127.76, for a total transaction of $335,370.00. Following the transaction, the director now owns 14,901 shares in the company, valued at approximately $1,903,751.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Joseph Saffire sold 5,036 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $131.03, for a total transaction of $659,867.08. Following the sale, the chief executive officer now directly owns 83,780 shares of the company’s stock, valued at approximately $10,977,693.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arthur L. Havener, Jr. sold 2,625 shares of the stock in a transaction 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 in the company, valued at $1,903,751.76. The disclosure for this sale can be found here. Insiders have sold 10,161 shares of company stock worth $1,320,037 in the last 90 days. Company insiders own 0.40% of the company’s stock.

About Life Storage

(Free Report)

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 1,200 storage facilities in 37 states and the District of Columbia. The Company serves both residential and commercial storage customers with storage units rented by month.