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Mitsubishi UFJ Trust Lowers Position in Life Storage

By MarketBeat News on Aug 21st, 2023

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Life Storage, Inc. (NYSE:LSIFree Report) by 73.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,646 shares of the real estate investment trust’s stock after selling 195,299 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Life Storage were worth $9,261,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp grew its holdings in Life Storage by 4.1% in the first quarter. Fifth Third Bancorp now owns 2,491 shares of the real estate investment trust’s stock valued at $327,000 after purchasing an additional 99 shares during the period. Profund Advisors LLC grew its holdings in Life Storage by 2.6% in the fourth quarter. Profund Advisors LLC now owns 4,052 shares of the real estate investment trust’s stock valued at $399,000 after purchasing an additional 102 shares during the period. Cetera Advisors LLC grew its holdings in Life Storage by 3.6% in the fourth quarter. Cetera Advisors LLC now owns 2,998 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 104 shares during the period. Toronto Dominion Bank grew its holdings in Life Storage by 1.3% in the fourth quarter. Toronto Dominion Bank now owns 9,058 shares of the real estate investment trust’s stock valued at $892,000 after purchasing an additional 112 shares during the period. Finally, First Republic Investment Management Inc. grew its holdings in Life Storage by 2.8% in the fourth quarter. First Republic Investment Management Inc. now owns 4,081 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 112 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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

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.

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