$1.40 Earnings Per Share Expected for Life Storage Inc (NYSE:LSI) This Quarter

Wall Street brokerages predict that Life Storage Inc (NYSE:LSI) will announce earnings per share (EPS) of $1.40 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Life Storage’s earnings, with estimates ranging from $1.39 to $1.42. Life Storage reported earnings per share of $1.39 during the same quarter last year, which would suggest a positive year over year growth rate of 0.7%. The firm is scheduled to report its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Life Storage will report full year earnings of $5.59 per share for the current financial year, with EPS estimates ranging from $5.58 to $5.60. For the next financial year, analysts forecast that the business will report earnings of $5.75 per share, with EPS estimates ranging from $5.70 to $5.81. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Life Storage.

Life Storage (NYSE:LSI) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.58). The business had revenue of $136.52 million during the quarter, compared to analysts’ expectations of $136.41 million. Life Storage had a return on equity of 10.17% and a net margin of 37.37%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share.

A number of equities analysts recently issued reports on LSI shares. Bank of America cut shares of Life Storage from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $105.00 to $99.00 in a research note on Friday, March 8th. ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research cut shares of Life Storage from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, Evercore ISI upgraded shares of Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price target on the stock in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $98.13.

Shares of NYSE:LSI traded up $0.10 during midday trading on Friday, reaching $98.99. The company’s stock had a trading volume of 7,988 shares, compared to its average volume of 372,779. The business has a 50 day moving average of $96.88. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 4.48 and a beta of 0.37. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.88. Life Storage has a 12-month low of $88.92 and a 12-month high of $102.91.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Tuesday, July 16th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, July 15th. Life Storage’s dividend payout ratio is currently 72.60%.

In other Life Storage news, Director Arthur L. Havener, Jr. sold 598 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $95.77, for a total transaction of $57,270.46. Following the transaction, the director now owns 6,728 shares in the company, valued at approximately $644,340.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. lifted its stake in Life Storage by 68.8% during the 4th quarter. Advisor Group Inc. now owns 466 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 190 shares during the period. Quadrant Capital Group LLC lifted its stake in Life Storage by 867.0% during the 1st quarter. Quadrant Capital Group LLC now owns 938 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 841 shares during the period. NumerixS Investment Technologies Inc bought a new position in Life Storage during the 1st quarter valued at about $98,000. PNC Financial Services Group Inc. lifted its stake in Life Storage by 8.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,828 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 150 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in Life Storage during the 1st quarter valued at about $208,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

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

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