Life Storage, Inc. to Post Q3 2017 Earnings of $1.41 Per Share, SunTrust Banks Forecasts (LSI)

Life Storage, Inc. (NYSE:LSI) – Research analysts at SunTrust Banks reduced their Q3 2017 EPS estimates for Life Storage in a research note issued to investors on Friday. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will post earnings of $1.41 per share for the quarter, down from their prior estimate of $1.42. SunTrust Banks also issued estimates for Life Storage’s Q4 2017 earnings at $1.40 EPS and FY2017 earnings at $5.42 EPS.

Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Life Storage from a “hold” rating to a “sell” rating in a report on Monday, April 24th. FBR & Co set a $79.00 price target on Life Storage and gave the stock a “hold” rating in a research report on Thursday, May 4th. Cantor Fitzgerald lowered Life Storage from an “overweight” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Friday, May 5th. Bank of America Corporation lowered Life Storage from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research report on Tuesday, May 9th. Finally, Citigroup Inc. restated a “buy” rating and set a $92.00 price target (down from $100.00) on shares of Life Storage in a research report on Sunday, May 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $89.62.

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Life Storage (NYSE:LSI) opened at 74.26 on Monday. Life Storage has a 1-year low of $70.07 and a 1-year high of $105.26. The firm has a market cap of $3.44 billion, a P/E ratio of 43.58 and a beta of 0.57. The company has a 50-day moving average price of $74.09 and a 200-day moving average price of $79.93.

Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.27 by $0.01. Life Storage had a return on equity of 3.68% and a net margin of 15.72%. The business had revenue of $128.30 million for the quarter, compared to the consensus estimate of $128.19 million. The firm’s quarterly revenue was up 29.5% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors raised its stake in shares of Life Storage by 77.6% in the first quarter. Nationwide Fund Advisors now owns 178,510 shares of the real estate investment trust’s stock worth $14,659,000 after buying an additional 78,007 shares during the last quarter. Navellier & Associates Inc increased its position in Life Storage by 19.3% in the first quarter. Navellier & Associates Inc now owns 22,208 shares of the real estate investment trust’s stock valued at $1,824,000 after buying an additional 3,585 shares during the period. State of Alaska Department of Revenue increased its position in Life Storage by 29.7% in the first quarter. State of Alaska Department of Revenue now owns 23,220 shares of the real estate investment trust’s stock valued at $1,906,000 after buying an additional 5,320 shares during the period. Nisa Investment Advisors LLC increased its position in 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 valued at $700,000 after buying an additional 725 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in 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 valued at $961,000 after buying an additional 200 shares during the period. 96.79% of the stock is currently owned by institutional investors.

In other news, insider Paul T. Powell purchased 700 shares of Life Storage stock in a transaction dated Tuesday, May 9th. The shares were purchased at an average price of $73.04 per share, with a total value of $51,128.00. Following the transaction, the insider now owns 44,296 shares in the company, valued at $3,235,379.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Thursday, July 13th. Life Storage’s payout ratio is presently 227.27%.

Life Storage Company Profile

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.

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

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