Wipfli Financial Advisors LLC Acquires New Position in Life Storage, Inc. (NYSE:LSI)

Wipfli Financial Advisors LLC acquired a new stake in Life Storage, Inc. (NYSE:LSIGet Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,464 shares of the real estate investment trust’s stock, valued at approximately $162,000.

Other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in shares of Life Storage in the first quarter valued at approximately $32,000. Bank of New Hampshire grew its holdings in shares of Life Storage by 55.4% in the third quarter. Bank of New Hampshire now owns 300 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 107 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Life Storage in the first quarter valued at approximately $38,000. Atlas Capital Advisors LLC acquired a new position in shares of Life Storage in the second quarter valued at approximately $53,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Life Storage in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 89.61% of the company’s stock.

Insider Activity at Life Storage

In related news, CEO Joseph Saffire sold 6,130 shares of the company’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $99.73, for a total value of $611,344.90. Following the completion of the sale, the chief executive officer now owns 71,921 shares in the company, valued at approximately $7,172,681.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on LSI shares. Truist Financial lowered their price target on shares of Life Storage from $138.00 to $120.00 in a report on Monday, December 5th. UBS Group started coverage on shares of Life Storage in a report on Monday, October 17th. They set a “neutral” rating and a $106.00 price target for the company. StockNews.com started coverage on shares of Life Storage in a report on Wednesday, October 12th. They set a “hold” rating for the company. Evercore ISI lowered their price target on shares of Life Storage from $135.00 to $134.00 and set an “in-line” rating for the company in a report on Tuesday, September 27th. Finally, KeyCorp lowered their price target on shares of Life Storage from $144.00 to $136.00 and set an “overweight” rating for the company in a report on Wednesday, November 30th. Eight 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, Life Storage presently has an average rating of “Hold” and an average target price of $130.90.

Life Storage Stock Up 1.1 %

Shares of NYSE:LSI opened at $96.32 on Monday. The firm has a 50 day simple moving average of $103.48 and a 200-day simple moving average of $113.08. Life Storage, Inc. has a twelve month low of $94.02 and a twelve month high of $151.76. The company has a market capitalization of $8.19 billion, a PE ratio of 23.90, a P/E/G ratio of 3.84 and a beta of 0.61. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90.

Life Storage Increases Dividend

The firm also recently declared 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. This is an increase from Life Storage’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $4.80 annualized dividend and a yield of 4.98%. Life Storage’s dividend payout ratio is 107.20%.

Life Storage Company Profile

(Get Rating)

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

Further Reading

Want to see what other hedge funds are holding LSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Life Storage, Inc. (NYSE:LSIGet Rating).

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

Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.