Institutional investors are showing growing interest in Life Storage Inc. (LSI), as evidenced by SG Americas Securities LLC’s recent acquisition of additional shares, marking a significant 278.0% increase in their position. The firm now owns 53,140 shares of the real estate investment trust’s stock, valued at $6,966,000. This move positions SG Americas Securities LLC as a stakeholder in the company, with approximately 0.06% ownership. Other hedge funds and institutional investors have also made modifications to their LSI holdings, further solidifying the growing interest in the stock. Notable investors include Ontario Teachers Pension Plan Board, Two Sigma Advisers LP, Allspring Global Investments Holdings LLC, Spire Wealth Management, and Hallmark Capital Management Inc. Institutional investors and hedge funds now own a significant 90.28% of the company’s stock.
Life Storage Trading Up
Life Storage’s shares opened at $139.89, indicating a positive trading trend. The company’s market capitalization currently stands at an impressive $11.90 billion. With a price-to-earnings ratio of 32.46 and a beta of 0.65, the stock showcases strong market performance. Furthermore, Life Storage has demonstrated steady growth, with a 50-day simple moving average of $131.49 and a 200-day simple moving average of $124.61. The company’s 52-week low and high are $94.02 and $146.66, respectively. Boasting a debt-to-equity ratio of 0.95 and favorable liquidity ratios, Life Storage is well-positioned for future success.
Life Storage Announces Dividend Payment
Life Storage recently declared a quarterly dividend that will be paid on July 19th. Shareholders of record on July 13th will receive a dividend of $0.90 per share. The ex-dividend date is July 12th. This announcement reflects the company’s commitment to rewarding its shareholders. The annualized dividend amounts to $3.60, offering investors a yield of 2.57%. Currently, Life Storage maintains a payout ratio of 83.53%, emphasizing its dedication to returning value to shareholders.
Analyst Ratings Provide Mixed Outlook for LSI Stock
Numerous research firms have published reports on Life Storage, offering varying perspectives on the company’s stock. KeyCorp, for instance, raised its price objective from $136.00 to $154.00, designating the stock as “overweight.” Conversely, Wolfe Research downgraded Life Storage from an “outperform” rating to a “market perform” rating. Truist Financial increased its price objective to $122.00, and StockNews.com initiated coverage with a “hold” rating. Stifel Nicolaus lifted their target price from $140.00 to $145.00. The consensus rating on LSI stock, as reported by STA Research, is currently “Buy” with a consensus target price of $134.55. These ratings provide investors with a range of perspectives on the future trajectory of Life Storage.
Insiders Opt to Sell Shares
Life Storage has recently witnessed insider selling activity. CEO Joseph Saffire sold 5,036 shares of the company’s stock, valued at $659,867.08. Following this sale, Saffire now holds 83,780 shares, worth $10,977,693.40. Director Stephen R. Rusmisel also sold 2,500 shares, with a total value of $324,800.00. Notably, insiders have sold a total of 10,161 shares, valued at $1,320,037, in the past 90 days. It is important to note that insiders still retain ownership of 0.50% of the company’s stock.
Future Outlook
According to a consensus forecast by 9 analysts, Life Storage Inc is expected to reach an average target price of USD 134.55 in the next 12 months. The analyst ratings for LSI Stock is Buy. Stock Target Advisor has conducted its own analysis and considers Life Storage Inc to be slightly bearish, based on 4 positive signals and 7 negative signals. As of the latest closing, Life Storage Inc’s stock price stood at USD 139.82, reflecting a change of +4.59% over the past week, +7.74% over the past month, and +23.95% over the last year. As investors evaluate Life Storage’s prospects and stock price predictions for 2025 will likely continue to shape market sentiment and investment decisions.
