Zacks: Analysts Anticipate Life Storage Inc (NYSE:LSI) Will Post Earnings of $1.45 Per Share

Wall Street brokerages predict that Life Storage Inc (NYSE:LSI) will announce earnings of $1.45 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.44 and the highest estimate coming in at $1.48. Life Storage also posted earnings per share of $1.45 during the same quarter last year. The company is expected to report its next earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Life Storage will report full-year earnings of $5.59 per share for the current year, with EPS estimates ranging from $5.57 to $5.60. For the next financial year, analysts anticipate that the firm will post earnings of $5.79 per share, with EPS estimates ranging from $5.74 to $5.92. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Life Storage.

Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.54). Life Storage had a net margin of 37.17% and a return on equity of 10.21%. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $142.96 million. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Several equities research analysts have commented on LSI shares. KeyCorp boosted their target price on Life Storage from $106.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Evercore ISI raised Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 target price on the stock in a report on Monday, May 20th. Stifel Nicolaus started coverage on Life Storage in a report on Monday, August 19th. They issued a “hold” rating and a $106.00 target price on the stock. Raymond James raised Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 target price on the stock in a report on Monday, July 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $102.56.

In other news, Director Charles E. Lannon sold 2,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $103.49, for a total value of $206,980.00. Following the completion of the transaction, the director now owns 117,152 shares in the company, valued at $12,124,060.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Edward F. Killeen sold 1,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $105.06, for a total value of $157,590.00. Following the completion of the transaction, the chief operating officer now owns 26,998 shares of the company’s stock, valued at approximately $2,836,409.88. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $679,690 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of LSI. PGGM Investments purchased a new position in shares of Life Storage in the second quarter worth $227,266,000. Long Pond Capital LP purchased a new position in shares of Life Storage in the second quarter worth $53,694,000. Nuveen Asset Management LLC raised its stake in shares of Life Storage by 232.0% in the second quarter. Nuveen Asset Management LLC now owns 774,147 shares of the real estate investment trust’s stock worth $73,606,000 after purchasing an additional 540,976 shares during the last quarter. Northern Trust Corp raised its stake in shares of Life Storage by 47.1% in the first quarter. Northern Trust Corp now owns 924,685 shares of the real estate investment trust’s stock worth $89,944,000 after purchasing an additional 296,148 shares during the last quarter. Finally, Echo Street Capital Management LLC raised its stake in shares of Life Storage by 57.5% in the second quarter. Echo Street Capital Management LLC now owns 428,620 shares of the real estate investment trust’s stock worth $40,753,000 after purchasing an additional 156,414 shares during the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Life Storage stock traded down $1.49 during mid-day trading on Friday, hitting $102.42. The company had a trading volume of 413,072 shares, compared to its average volume of 373,284. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $102.54 and its two-hundred day moving average price is $98.20. Life Storage has a 12 month low of $88.92 and a 12 month high of $106.43. The company has a market capitalization of $4.82 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 4.68 and a beta of 0.35.

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

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