Swiss National Bank Sells 20,400 Shares of Life Storage, Inc. (NYSE:LSI)

Posted by Defense World Staff on Aug 22nd, 2023

Swiss National Bank cut its position in shares of Life Storage, Inc. (NYSE:LSI – Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 183,382 shares of the real estate investment trust’s stock after selling 20,400 shares during the quarter. Swiss National Bank owned 0.22% of Life Storage worth $24,040,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LSI. Ontario Teachers Pension Plan Board grew its stake in Life Storage by 228.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 11,715 shares of the real estate investment trust’s stock valued at $1,154,000 after purchasing an additional 8,144 shares in the last quarter. Two Sigma Advisers LP grew its stake in Life Storage by 14.8% in the fourth quarter. Two Sigma Advisers LP now owns 346,000 shares of the real estate investment trust’s stock valued at $34,081,000 after purchasing an additional 44,700 shares in the last quarter. Spire Wealth Management grew its stake in Life Storage by 728.0% in the fourth quarter. Spire Wealth Management now owns 828 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 728 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Life Storage by 5.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 95,000 shares of the real estate investment trust’s stock valued at $12,454,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Capital Square LLC grew its stake in Life Storage by 27.0% in the first quarter. Capital Square LLC now owns 3,392 shares of the real estate investment trust’s stock valued at $488,000 after purchasing an additional 721 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Stephen R. Rusmisel sold 2,500 shares of Life Storage stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $129.92, for a total transaction of $324,800.00. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. In related news, Director Stephen R. Rusmisel sold 2,500 shares of Life Storage stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $129.92, for a total transaction of $324,800.00. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. Also, CEO Joseph Saffire sold 5,036 shares of Life Storage stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $131.03, for a total value of $659,867.08. Following the sale, the chief executive officer now directly owns 83,780 shares of the company’s stock, valued at $10,977,693.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,161 shares of company stock valued at $1,320,037. Insiders own 0.40% of the company’s stock.

Life Storage Stock Performance

NYSE:LSI opened at $133.10 on Tuesday. The stock has a market cap of $11.33 billion, a P/E ratio of 30.88 and a beta of 0.65. The stock has a 50 day simple moving average of $132.73 and a 200 day simple moving average of $130.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.95. Life Storage, Inc. has a 1-year low of $94.02 and a 1-year high of $146.66.

Life Storage Announces Dividend

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

Analyst Upgrades and Downgrades

LSI has been the subject of a number of analyst reports. StockNews.com initiated coverage on Life Storage in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Stifel Nicolaus raised their price target on Life Storage from $140.00 to $145.00 in a research note on Friday, May 12th. Finally, Truist Financial raised their price target on Life Storage from $120.00 to $122.00 in a research note on Thursday, June 15th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $128.63.

Read Our Latest Stock Analysis on Life Storage

Life Storage Profile

(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.