Brokerages predict that Life Storage, Inc. (NYSE:LSI) will announce earnings per share (EPS) of $1.37 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Life Storage’s earnings. The lowest EPS estimate is $1.36 and the highest is $1.38. Life Storage posted earnings of $1.34 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The business is scheduled to report its next earnings report on Wednesday, November 1st.
On average, analysts expect that Life Storage will report full-year earnings of $5.25 per share for the current financial year. For the next year, analysts expect that the firm will report earnings of $5.64 per share, with EPS estimates ranging from $5.13 to $5.85. 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.
Life Storage (NYSE:LSI) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was up 24.1% compared to the same quarter last year.
LSI has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Life Storage from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Cantor Fitzgerald downgraded shares of Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Friday, May 5th. Citigroup Inc. reiterated a “buy” rating and issued a $92.00 price objective (down previously from $100.00) on shares of Life Storage in a report on Sunday, May 14th. Bank of America Corporation downgraded shares of Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price objective for the company. in a report on Tuesday, May 9th. Finally, FBR & Co set a $79.00 price objective on shares of Life Storage and gave the company a “hold” rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Life Storage currently has an average rating of “Hold” and a consensus price target of $86.69.
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Several hedge funds have recently made changes to their positions in the company. Creative Planning increased its stake in shares of Life Storage by 2.6% in the first quarter. Creative Planning now owns 2,410 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 60 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Life Storage by 2.3% in the first quarter. Bank of Montreal Can now owns 14,028 shares of the real estate investment trust’s stock worth $1,153,000 after buying an additional 315 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Life Storage by 9.2% in the first quarter. Capstone Asset Management Co. now owns 5,483 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 460 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Life Storage by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the real estate investment trust’s stock worth $961,000 after buying an additional 200 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Life Storage by 9.3% in the first quarter. Nisa Investment Advisors LLC now owns 8,525 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 725 shares in the last quarter. Institutional investors and hedge funds own 96.44% of the company’s stock.
Shares of Life Storage (LSI) traded up 0.19% during midday trading on Friday, reaching $72.31. The company’s stock had a trading volume of 79,373 shares. Life Storage has a 52 week low of $69.92 and a 52 week high of $100.77. The company has a 50 day moving average price of $73.95 and a 200-day moving average price of $79.50. The stock has a market capitalization of $3.35 billion, a PE ratio of 63.26 and a beta of 0.56.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, July 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.54%. Life Storage’s dividend payout ratio is currently 347.83%.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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