Federated Hermes Inc. Has $1.54 Million Position in Life Storage, Inc. (NYSE:LSI)

Federated Hermes Inc. lowered its position in Life Storage, Inc. (NYSE:LSI – Get Rating) by 13.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,909 shares of the real estate investment trust’s stock after selling 2,169 shares during the quarter. Federated Hermes Inc.’s holdings in Life Storage were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Life Storage by 2.3% in the first quarter. Vanguard Group Inc. now owns 12,423,958 shares of the real estate investment trust’s stock valued at $1,744,696,000 after buying an additional 278,315 shares during the period. State Street Corp boosted its holdings in Life Storage by 1.7% in the second quarter. State Street Corp now owns 4,575,087 shares of the real estate investment trust’s stock valued at $510,854,000 after acquiring an additional 75,596 shares during the last quarter. Invesco Ltd. boosted its holdings in Life Storage by 10.9% in the first quarter. Invesco Ltd. now owns 2,604,656 shares of the real estate investment trust’s stock valued at $365,771,000 after acquiring an additional 256,549 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in Life Storage by 18.5% in the first quarter. Centersquare Investment Management LLC now owns 2,478,966 shares of the real estate investment trust’s stock valued at $348,121,000 after acquiring an additional 386,710 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Life Storage by 89.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,545,547 shares of the real estate investment trust’s stock valued at $172,575,000 after acquiring an additional 729,587 shares during the last quarter. Institutional investors and hedge funds own 89.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. KeyCorp reduced their target price on Life Storage from $144.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Truist Financial upped their target price on Life Storage from $115.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday. Citigroup cut Life Storage from a “buy” rating to a “neutral” rating and set a $126.00 price target on the stock. in a report on Wednesday, February 8th. Jefferies Financial Group cut Life Storage from a “buy” rating to a “hold” rating and cut their price target for the stock from $123.00 to $97.00 in a report on Monday, January 2nd. Finally, StockNews.com started coverage on Life Storage in a report on Friday. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Life Storage presently has an average rating of “Hold” and a consensus target price of $125.20.

Insider Transactions at Life Storage

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In related news, CEO Joseph Saffire sold 6,130 shares of the stock in a transaction on Tuesday, December 20th. The stock was 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 directly owns 71,921 shares of the company’s stock, valued at approximately $7,172,681.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Life Storage Price Performance

Shares of NYSE:LSI opened at $117.99 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.93. Life Storage, Inc. has a twelve month low of $94.02 and a twelve month high of $151.76. The stock’s 50 day moving average is $112.79 and its 200-day moving average is $110.95. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 27.89 and a beta of 0.63.

Life Storage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 26th. Stockholders of record on Friday, January 13th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.07%. This is a positive change from Life Storage’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Thursday, January 12th. Life Storage’s dividend payout ratio is presently 113.48%.

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.