Life Storage Inc (NYSE:LSI) Expected to Announce Earnings of $1.43 Per Share

Wall Street brokerages expect Life Storage Inc (NYSE:LSI) to report earnings of $1.43 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.42 and the highest estimate coming in at $1.44. Life Storage posted earnings of $1.38 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The firm is scheduled to announce its next quarterly earnings results on Monday, February 24th.

On average, analysts expect that Life Storage will report full-year earnings of $5.61 per share for the current financial year, with EPS estimates ranging from $5.60 to $5.63. For the next financial year, analysts forecast that the company will report earnings of $5.99 per share, with EPS estimates ranging from $5.94 to $6.06. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Life Storage.

Life Storage (NYSE:LSI) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.60). The company had revenue of $145.63 million for the quarter, compared to the consensus estimate of $146.77 million. Life Storage had a net margin of 54.38% and a return on equity of 14.85%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 EPS.

LSI has been the topic of several analyst reports. Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus raised Life Storage from a “hold” rating to a “buy” rating and boosted their target price for the company from $106.00 to $114.00 in a research report on Thursday, October 31st. Jefferies Financial Group raised Life Storage from a “hold” rating to a “buy” rating and boosted their target price for the company from $113.00 to $122.00 in a research report on Friday, October 11th. KeyCorp boosted their target price on Life Storage from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Bank of America raised Life Storage from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $102.00 to $111.00 in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $111.50.

A number of institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its position in Life Storage by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,779,256 shares of the real estate investment trust’s stock valued at $187,551,000 after acquiring an additional 43,951 shares during the last quarter. Invesco Ltd. grew its position in Life Storage by 4.7% in the 2nd quarter. Invesco Ltd. now owns 1,022,029 shares of the real estate investment trust’s stock valued at $97,175,000 after acquiring an additional 46,116 shares during the last quarter. Nuveen Asset Management LLC grew its position in Life Storage by 232.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 774,147 shares of the real estate investment trust’s stock valued at $73,606,000 after acquiring an additional 540,976 shares during the last quarter. Macquarie Group Ltd. grew its position in Life Storage by 1.0% in the 2nd quarter. Macquarie Group Ltd. now owns 671,781 shares of the real estate investment trust’s stock valued at $63,873,000 after acquiring an additional 6,968 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Life Storage by 220.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 333,360 shares of the real estate investment trust’s stock valued at $35,173,000 after acquiring an additional 229,268 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors.

Shares of NYSE LSI traded up $0.08 during trading hours on Tuesday, hitting $113.81. 74,785 shares of the company traded hands, compared to its average volume of 305,016. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 4.65 and a beta of 0.30. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average price is $108.69 and its 200 day moving average price is $105.54. Life Storage has a 12 month low of $90.99 and a 12 month high of $116.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, January 14th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.76%. The ex-dividend date is Monday, January 13th. This is an increase from Life Storage’s previous quarterly dividend of $1.00. Life Storage’s dividend payout ratio is 77.68%.

About Life Storage

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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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