Equities research analysts predict that Life Storage, Inc. (NYSE:LSI – Get Rating) will announce earnings of $1.53 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.49 and the highest estimate coming in at $1.58. Life Storage reported earnings per share of $1.20 during the same quarter last year, which suggests a positive year-over-year growth rate of 27.5%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Life Storage will report full-year earnings of $6.15 per share for the current financial year, with EPS estimates ranging from $5.96 to $6.53. For the next year, analysts expect that the business will post earnings of $6.62 per share, with EPS estimates ranging from $6.33 to $6.88. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Life Storage.
Life Storage (NYSE:LSI – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). Life Storage had a return on equity of 8.71% and a net margin of 32.60%. The business had revenue of $233.49 million during the quarter, compared to the consensus estimate of $230.01 million. During the same quarter last year, the company earned $1.08 EPS. Life Storage’s revenue for the quarter was up 35.8% on a year-over-year basis.
Shares of LSI opened at $117.77 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.62 and a quick ratio of 1.44. Life Storage has a 1 year low of $98.71 and a 1 year high of $154.45. The company has a 50 day simple moving average of $131.94 and a two-hundred day simple moving average of $134.82. The firm has a market cap of $9.94 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 4.92 and a beta of 0.54.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Thursday, April 14th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Wednesday, April 13th. Life Storage’s payout ratio is presently 117.30%.
In other Life Storage news, Director Stephen R. Rusmisel sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $135.03, for a total value of $337,575.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Saffire sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $130.95, for a total value of $1,178,550.00. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $2,054,285 over the last three months. 0.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in LSI. First Trust Advisors LP raised its stake in shares of Life Storage by 615.6% during the 1st quarter. First Trust Advisors LP now owns 63,199 shares of the real estate investment trust’s stock worth $6,147,000 after buying an additional 54,368 shares during the period. Morgan Stanley raised its stake in shares of Life Storage by 143.2% during the 2nd quarter. Morgan Stanley now owns 594,229 shares of the real estate investment trust’s stock worth $63,790,000 after buying an additional 349,910 shares during the period. US Bancorp DE raised its stake in shares of Life Storage by 0.6% during the 3rd quarter. US Bancorp DE now owns 13,825 shares of the real estate investment trust’s stock worth $1,586,000 after buying an additional 83 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in shares of Life Storage by 2.3% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 6,990 shares of the real estate investment trust’s stock worth $802,000 after buying an additional 159 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Life Storage by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,371,503 shares of the real estate investment trust’s stock worth $157,366,000 after buying an additional 51,101 shares during the period. 91.67% of the stock is owned by institutional investors and hedge funds.
Life Storage Company Profile (Get Rating)
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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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