$1.35 Earnings Per Share Expected for Life Storage Inc (LSI) This Quarter

Wall Street brokerages forecast that Life Storage Inc (NYSE:LSI) will report earnings of $1.35 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Life Storage’s earnings, with estimates ranging from $1.32 to $1.38. Life Storage reported earnings of $1.34 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 0.7%. The firm is scheduled to issue its next earnings report after the market closes on Monday, February 25th.

On average, analysts expect that Life Storage will report full year earnings of $5.49 per share for the current financial year, with EPS estimates ranging from $5.45 to $5.51. For the next year, analysts forecast that the business will report earnings of $5.63 per share, with EPS estimates ranging from $5.58 to $5.72. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Life Storage.

LSI has been the subject of a number of recent research reports. ValuEngine upgraded shares of Life Storage from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Evercore ISI downgraded shares of Life Storage from an “in-line” rating to an “underperform” rating in a report on Tuesday, December 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $93.33.

Shares of Life Storage stock opened at $98.98 on Wednesday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 4.50 and a beta of 0.51. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.87. Life Storage has a one year low of $77.33 and a one year high of $102.91.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 28th. Stockholders of record on Tuesday, January 15th were issued a dividend of $1.00 per share. The ex-dividend date was Monday, January 14th. This represents a $4.00 annualized dividend and a dividend yield of 4.04%. Life Storage’s dividend payout ratio (DPR) is currently 75.33%.

In related news, COO Edward F. Killeen sold 1,306 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $101.99, for a total value of $133,198.94. Following the sale, the chief operating officer now owns 24,763 shares in the company, valued at $2,525,578.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arthur L. Havener, Jr. sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were 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. In the last 90 days, insiders have sold 5,962 shares of company stock worth $602,556. Corporate insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of LSI. Cohen & Steers Inc. boosted its position in Life Storage by 114.6% in the third quarter. Cohen & Steers Inc. now owns 6,652,513 shares of the real estate investment trust’s stock valued at $633,053,000 after buying an additional 3,552,687 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Life Storage by 22,651.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,456,114 shares of the real estate investment trust’s stock valued at $138,564,000 after buying an additional 1,449,714 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Life Storage by 21.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,425,183 shares of the real estate investment trust’s stock valued at $325,940,000 after buying an additional 608,989 shares during the last quarter. Vanguard Group Inc boosted its position in Life Storage by 5.1% in the third quarter. Vanguard Group Inc now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after buying an additional 354,370 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Life Storage by 5.1% in the third quarter. Vanguard Group Inc. now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after buying an additional 354,370 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

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.

See Also: Dividend Aristocrat Index

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

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