Equities analysts expect Life Storage, Inc. (NYSE:LSI) to announce earnings per share (EPS) of $1.33 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Life Storage’s earnings, with the highest EPS estimate coming in at $1.35 and the lowest estimate coming in at $1.29. Life Storage also posted earnings per share of $1.33 in the same quarter last year. The firm is expected to issue its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Life Storage will report full-year earnings of $5.38 per share for the current fiscal year, with EPS estimates ranging from $5.34 to $5.41. For the next year, analysts expect that the business will report earnings of $5.43 per share, with EPS estimates ranging from $5.13 to $5.60. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Life Storage.
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Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.55). Life Storage had a net margin of 20.55% and a return on equity of 5.52%. The firm had revenue of $133.10 million during the quarter, compared to analyst estimates of $134.71 million. During the same period last year, the firm earned $1.26 EPS. Life Storage’s quarterly revenue was up 3.7% on a year-over-year basis.
Several brokerages have recently issued reports on LSI. Cantor Fitzgerald set a $84.00 price target on shares of Life Storage and gave the company a “hold” rating in a report on Thursday, March 8th. Robert W. Baird lowered shares of Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 price target for the company. in a report on Thursday, January 25th. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. ValuEngine raised shares of Life Storage from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Finally, Bank of America reissued a “hold” rating and issued a $93.00 price target (up previously from $90.00) on shares of Life Storage in a report on Tuesday, May 8th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $82.93.
In related news, President Kenneth F. Myszka sold 10,000 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $91.02, for a total value of $910,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Edward F. Killeen sold 4,000 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $91.02, for a total transaction of $364,080.00. Following the completion of the transaction, the chief operating officer now directly owns 26,069 shares of the company’s stock, valued at $2,372,800.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,630 shares of company stock valued at $6,337,272. Company insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB lifted its position in Life Storage by 49.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,730 shares of the real estate investment trust’s stock worth $479,000 after buying an additional 1,900 shares in the last quarter. Legal & General Group Plc lifted its position in Life Storage by 15.5% during the 1st quarter. Legal & General Group Plc now owns 196,808 shares of the real estate investment trust’s stock worth $16,437,000 after buying an additional 26,433 shares in the last quarter. Millennium Management LLC lifted its position in Life Storage by 75.6% during the 1st quarter. Millennium Management LLC now owns 67,606 shares of the real estate investment trust’s stock worth $5,646,000 after buying an additional 29,110 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Life Storage by 52.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 53,773 shares of the real estate investment trust’s stock worth $4,492,000 after buying an additional 18,491 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in Life Storage by 148.9% during the 1st quarter. Guggenheim Capital LLC now owns 41,106 shares of the real estate investment trust’s stock worth $3,433,000 after buying an additional 24,594 shares in the last quarter.
Shares of Life Storage opened at $89.75 on Wednesday, MarketBeat reports. Life Storage has a 12-month low of $69.00 and a 12-month high of $93.16. The firm has a market capitalization of $4.19 billion, a PE ratio of 16.79, a PEG ratio of 3.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.23 and a quick ratio of 0.23.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 26th. Investors of record on Friday, April 13th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, April 12th. Life Storage’s payout ratio is presently 75.33%.
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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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