Life Storage, Inc. (NYSE:LSI) Expected to Post Earnings of $1.10 Per Share

Analysts expect that Life Storage, Inc. (NYSE:LSI) will report earnings of $1.10 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.08 and the highest estimate coming in at $1.12. Life Storage reported earnings per share of $0.95 in the same quarter last year, which indicates a positive year over year growth rate of 15.8%. The company is expected to announce its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that Life Storage will report full-year earnings of $4.36 per share for the current year, with EPS estimates ranging from $4.21 to $4.49. For the next fiscal year, analysts forecast that the firm will report earnings of $4.67 per share, with EPS estimates ranging from $4.52 to $4.76. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Life Storage.

Life Storage (NYSE:LSI) last issued its earnings results on Tuesday, May 4th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.38). Life Storage had a return on equity of 7.09% and a net margin of 25.67%. The firm had revenue of $171.89 million during the quarter, compared to analysts’ expectations of $164.24 million. During the same period in the prior year, the company earned $0.52 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year.

Several analysts have weighed in on LSI shares. Wells Fargo & Company boosted their price target on shares of Life Storage from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 1st. Evercore ISI raised Life Storage from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $82.00 to $94.00 in a research note on Monday, March 8th. Truist increased their price target on shares of Life Storage from $85.00 to $88.00 in a research report on Friday, March 5th. KeyCorp lifted their price objective on Life Storage from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 24th. Finally, Raymond James raised their price target on Life Storage from $80.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Life Storage currently has a consensus rating of “Buy” and an average target price of $89.50.

In related news, CFO Andrew J. Gregoire sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $95.55, for a total value of $477,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Edward F. Killeen sold 1,700 shares of Life Storage stock in a transaction on Friday, May 7th. The shares were sold at an average price of $95.57, for a total value of $162,469.00. Following the transaction, the chief operating officer now owns 68,254 shares of the company’s stock, valued at approximately $6,523,034.78. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Leavell Investment Management Inc. grew its position in Life Storage by 4.7% during the 4th quarter. Leavell Investment Management Inc. now owns 2,230 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 100 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Life Storage by 54.2% during the first quarter. Lindbrook Capital LLC now owns 367 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 129 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in Life Storage by 6.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,258 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 135 shares during the last quarter. NEXT Financial Group Inc lifted its position in Life Storage by 48.4% in the 1st quarter. NEXT Financial Group Inc now owns 423 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 138 shares in the last quarter. Finally, Westpac Banking Corp increased its holdings in shares of Life Storage by 1.9% in the 4th quarter. Westpac Banking Corp now owns 8,416 shares of the real estate investment trust’s stock worth $1,005,000 after purchasing an additional 160 shares in the last quarter. 89.84% of the stock is owned by hedge funds and other institutional investors.

Shares of LSI opened at $93.77 on Thursday. Life Storage has a fifty-two week low of $55.11 and a fifty-two week high of $97.28. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 5.27 and a beta of 0.32. The firm has a 50 day moving average price of $91.45 and a 200-day moving average price of $82.79. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.18.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 26th. Shareholders of record on Wednesday, April 14th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, April 13th. Life Storage’s dividend payout ratio is currently 52.67%.

About Life Storage

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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Earnings History and Estimates for Life Storage (NYSE:LSI)

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