Zacks: Analysts Expect Life Storage, Inc. (NYSE:LSI) to Post $1.53 Earnings Per Share

Brokerages predict that Life Storage, Inc. (NYSE:LSIGet Rating) will announce $1.53 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for Life Storage’s earnings, with estimates ranging from $1.49 to $1.58. Life Storage reported earnings of $1.20 per share during the same quarter last year, which would indicate a positive year over year growth rate of 27.5%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Life Storage will report full year earnings of $6.15 per share for the current fiscal year, with EPS estimates ranging from $5.96 to $6.53. For the next year, analysts expect that the firm will post earnings of $6.62 per share, with EPS estimates ranging from $6.33 to $6.88. Zacks’ EPS calculations are an average based on a survey of analysts that cover Life Storage.

Life Storage (NYSE:LSIGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). Life Storage had a net margin of 32.60% and a return on equity of 8.71%. The company had revenue of $233.49 million for the quarter, compared to analysts’ expectations of $230.01 million. During the same period in the previous year, the business earned $1.08 EPS. The business’s revenue was up 35.8% compared to the same quarter last year.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Life Storage from $142.00 to $154.00 and gave the company a “neutral” rating in a report on Monday, April 4th. Raymond James reduced their target price on shares of Life Storage from $145.00 to $125.00 in a report on Monday. BMO Capital Markets lowered Life Storage from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $150.00 to $130.00 in a research report on Thursday, May 19th. Finally, StockNews.com initiated coverage on Life Storage in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Life Storage has an average rating of “Buy” and a consensus price target of $147.00.

NYSE LSI opened at $113.12 on Wednesday. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 4.92 and a beta of 0.54. The company has a current ratio of 0.62, a quick ratio of 1.44 and a debt-to-equity ratio of 0.84. Life Storage has a 12 month low of $97.05 and a 12 month high of $154.45. The company’s 50 day moving average is $133.13 and its two-hundred day moving average is $135.19.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Thursday, April 14th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Wednesday, April 13th. Life Storage’s payout ratio is 117.30%.

In other news, CEO Joseph Saffire sold 9,000 shares of the company’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $130.95, for a total value of $1,178,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen R. Rusmisel sold 2,500 shares of the company’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $135.03, for a total value of $337,575.00. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $2,054,285 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Moors & Cabot Inc. purchased a new position in Life Storage in the third quarter valued at about $25,000. Allworth Financial LP raised its stake in Life Storage by 320.0% during the first quarter. Allworth Financial LP now owns 189 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. Whittier Trust Co. acquired a new stake in Life Storage during the first quarter valued at approximately $28,000. Meeder Asset Management Inc. acquired a new stake in Life Storage during the first quarter valued at approximately $28,000. Finally, Hexagon Capital Partners LLC acquired a new stake in shares of Life Storage during the 4th quarter worth approximately $29,000. 91.67% of the stock is owned by hedge funds and other institutional investors.

About Life Storage (Get Rating)

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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