Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Life Storage Inc. shares valued at $611,345 were sold by Saffire Joseph on Dec 20. At $99.73 per share, Saffire Joseph sold 6,130 shares. The insider’s holdings dropped to 71,921 shares worth approximately $8.97 million following the completion of this transaction.
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Also, Saffire Joseph sold 5,044 shares, netting a total of over 661,874 in proceeds. Following the sale of shares at $131.22 each, the insider now holds 61,305 shares.
Before that, Rusmisel Stephen R had sold 2,500 shares from its account. In a trade valued at $337,575, the Director traded Life Storage Inc. shares for $135.03 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $1.86 million.
As published in a research note from Citigroup on February 08, 2023, Life Storage Inc. [LSI] has been rated down from a Buy to a Neutral and the price target has been revised to $126. This represents a 1.0% premium over Thursday’s closing price. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of October 17, 2022, UBS has initiated its “Neutral” rating for LSI. Earlier on August 29, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for LSI stock which previously was a “an Outperform”.
Analyzing LSI Stock Performance
On Thursday, Life Storage Inc. [NYSE: LSI] rose 2.25% to $124.74. The stock’s lowest price that day was $121.54, but it reached a high of $125.405 in the same session. During the last five days, there has been a surge of approximately 2.29%. Over the course of the year, Life Storage Inc. shares have jumped approximately 26.64%. Shares of the company reached a 52-week high of $125.92 on 02/13/23 and a 52-week low of $94.02 on 01/05/23. A 50-day SMA is recorded $109.12, while a 200-day SMA reached $112.93. Nevertheless, trading volume fell to 1.42 million shares from 1.41 million shares the previous day.
Support And Resistance Levels for Life Storage Inc. (LSI)
According to the 24-hour chart, there is a support level at 122.39, which, if violated, would cause prices to drop to 120.03. In the upper region, resistance lies at 126.25. The next price resistance is at 127.76. RSI (Relative Strength Index) is 68.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 16.91%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Life Storage Inc. subject to short interest?
Stocks of Life Storage Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.27 million shares to 1.93 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 1.66 million shares. A jump of 13.99% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.84.
Which companies own the most shares of Life Storage Inc. (LSI)?
According to The Vanguard Group, Inc. filings, the company currently owns 12,604,410 shares, which is about 14.83% of the total LSI shares outstanding. The investor’s shares have appreciated by 119,603 from its previous 13-F filing of 12484807.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $891,434,691. SSgA Funds Management, Inc. acquire a 2.60% interest valued at $505.17 million while Wellington Management Co. LLP sold a -214,263 stake. A total of 1,644,419 shares of Life Storage Inc. were sold by Norges Bank Investment Management during the quarter, and 179,654 were bought by Massachusetts Financial Services. In its current portfolio, CenterSquare Investment Managemen holds 1,852,054 shares valued at $200.1 million.
In terms of Life Storage Inc. share price expectations, FactSet research, analysts set an average price target of $124.70 in the next 12 months, up nearly 3.28% from the previous closing price of $122.00. Analysts anticipate Life Storage Inc. stock to reach $140.00 by 2023, with the lowest price target being $101.00. In spite of this, 11 analysts ranked Life Storage Inc. stock as an Overweight at the end of 2023. On June 21, 2022, BofA Securities assigned a price target of “a Neutral” to the stock and downgraded coverage with a $133.