$1.40 EPS Expected for Life Storage Inc (LSI) This Quarter

Wall Street brokerages forecast that Life Storage Inc (NYSE:LSI) will report $1.40 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Life Storage’s earnings. The highest EPS estimate is $1.43 and the lowest is $1.37. Life Storage reported earnings of $1.39 per share during the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The business is expected to announce its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Life Storage will report full-year earnings of $5.47 per share for the current year, with EPS estimates ranging from $5.42 to $5.49. For the next financial year, analysts expect that the company will report earnings of $5.56 per share, with EPS estimates ranging from $5.44 to $5.71. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Life Storage.

Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.50). The company had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $135.97 million. Life Storage had a net margin of 24.04% and a return on equity of 6.53%. Life Storage’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.33 earnings per share.

Several research firms have issued reports on LSI. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Thursday, July 5th. Citigroup boosted their price objective on shares of Life Storage from $83.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, July 12th. ValuEngine raised shares of Life Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Bank of America boosted their price objective on shares of Life Storage from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Finally, DA Davidson boosted their price objective on shares of Life Storage to $105.00 in a research report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $91.50.

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Life Storage in the 2nd quarter worth approximately $104,000. Steward Partners Investment Advisory LLC lifted its position in shares of Life Storage by 333.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 1,000 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Life Storage in the 2nd quarter worth approximately $145,000. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Life Storage during the second quarter valued at approximately $206,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new stake in Life Storage during the second quarter valued at approximately $208,000. 94.25% of the stock is owned by hedge funds and other institutional investors.

Life Storage stock traded up $2.00 during trading hours on Monday, hitting $93.80. The company had a trading volume of 251,000 shares, compared to its average volume of 417,779. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 3.86 and a beta of 0.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.20 and a quick ratio of 0.20. Life Storage has a 1 year low of $76.42 and a 1 year high of $102.91.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Tuesday, October 16th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, October 15th. This represents a $4.00 annualized dividend and a dividend yield of 4.26%. Life Storage’s payout ratio is presently 75.33%.

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

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