Life Storage Inc (NYSE:LSI) – Equities researchers at KeyCorp lifted their FY2018 earnings per share (EPS) estimates for shares of Life Storage in a report issued on Sunday, December 2nd. KeyCorp analyst T. Thomas now expects that the real estate investment trust will earn $5.50 per share for the year, up from their prior forecast of $5.44. KeyCorp also issued estimates for Life Storage’s FY2019 earnings at $5.61 EPS.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 EPS for the quarter, meeting the consensus estimate of $0.88. Life Storage had a return on equity of 6.68% and a net margin of 24.81%. The business had revenue of $141.50 million during the quarter, compared to the consensus estimate of $141.10 million. During the same period in the prior year, the business posted $0.76 earnings per share. Life Storage’s revenue was up 4.4% compared to the same quarter last year.
Shares of NYSE LSI opened at $97.54 on Tuesday. Life Storage has a 12 month low of $76.42 and a 12 month high of $102.91. The firm has a market cap of $4.55 billion, a PE ratio of 18.37, a P/E/G ratio of 3.95 and a beta of 0.39. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.28 and a quick ratio of 0.28.
In other Life Storage news, President Kenneth F. Myszka sold 5,000 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $94.39, for a total value of $471,950.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur L. Havener, Jr. sold 650 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $99.00, for a total value of $64,350.00. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Life Storage by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,276,424 shares of the real estate investment trust’s stock worth $692,424,000 after purchasing an additional 354,370 shares during the last quarter. Nordea Investment Management AB acquired a new position in Life Storage in the 3rd quarter worth about $6,826,000. Cohen & Steers Inc. increased its position in Life Storage by 114.6% in the 3rd quarter. Cohen & Steers Inc. now owns 6,652,513 shares of the real estate investment trust’s stock worth $633,053,000 after purchasing an additional 3,552,687 shares during the last quarter. Teachers Advisors LLC increased its position in Life Storage by 21.2% in the 3rd quarter. Teachers Advisors LLC now owns 76,132 shares of the real estate investment trust’s stock worth $7,245,000 after purchasing an additional 13,337 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Life Storage by 44.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,406 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,043 shares during the last quarter.
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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