Brokerages expect that Life Storage Inc (NYSE:LSI) will post $1.45 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.44 and the highest estimate coming in at $1.48. Life Storage also reported earnings of $1.45 per share during the same quarter last year. The firm is scheduled to report its next earnings results on Wednesday, October 30th.
According to Zacks, analysts expect that Life Storage will report full-year earnings of $5.59 per share for the current financial year, with EPS estimates ranging from $5.57 to $5.60. For the next fiscal year, analysts forecast that the business will post earnings of $5.78 per share, with EPS estimates ranging from $5.70 to $5.92. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Life Storage.
Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.54). Life Storage had a net margin of 37.17% and a return on equity of 10.21%. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $142.96 million. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.
Several equities research analysts recently weighed in on the company. Raymond James upgraded Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 price target on the stock in a research report on Monday, July 8th. They noted that the move was a valuation call. Evercore ISI upgraded Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price target on the stock in a research report on Monday, May 20th. Robert W. Baird upgraded Life Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $92.00 to $101.00 in a research report on Wednesday. KeyCorp lifted their price target on Life Storage from $106.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $102.56.
In other Life Storage news, Director Charles E. Lannon sold 2,000 shares of Life Storage stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $103.49, for a total transaction of $206,980.00. Following the completion of the transaction, the director now owns 117,152 shares in the company, valued at $12,124,060.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in LSI. Stifel Financial Corp raised its stake in shares of Life Storage by 5.2% in the fourth quarter. Stifel Financial Corp now owns 2,977 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 146 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of Life Storage by 1,174.3% during the 1st quarter. Centersquare Investment Management LLC now owns 2,625 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 2,419 shares in the last quarter. Pennsylvania Trust Co acquired a new stake in shares of Life Storage during the 1st quarter worth about $344,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Life Storage during the 2nd quarter worth about $1,569,000. Finally, Crossmark Global Holdings Inc. increased its position in shares of Life Storage by 6.0% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,851 shares of the real estate investment trust’s stock worth $569,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds own 99.45% of the company’s stock.
Shares of NYSE LSI traded up $0.91 during mid-day trading on Wednesday, hitting $104.26. 312,448 shares of the stock traded hands, compared to its average volume of 375,011. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.63 and a current ratio of 0.63. Life Storage has a 52 week low of $88.92 and a 52 week high of $104.83. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 4.67 and a beta of 0.37. The stock has a fifty day moving average price of $99.99 and a 200-day moving average price of $97.58.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, July 16th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Monday, July 15th. Life Storage’s payout ratio is 72.60%.
Life Storage Company Profile
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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