Brokerages Expect Life Storage, Inc. (LSI) Will Post Earnings of $1.28 Per Share

Equities research analysts expect Life Storage, Inc. (NYSE:LSI) to post $1.28 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.26 and the highest estimate coming in at $1.30. Life Storage reported earnings per share of $1.26 in the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Life Storage will report full year earnings of $5.37 per share for the current financial year, with EPS estimates ranging from $5.33 to $5.42. For the next year, analysts forecast that the firm will post earnings of $5.42 per share, with EPS estimates ranging from $5.13 to $5.61. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Life Storage.

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Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.03. The business had revenue of $133.08 million for the quarter, compared to analysts’ expectations of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 earnings per share.

LSI has been the topic of a number of recent research reports. Robert W. Baird cut shares of Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 price objective on the stock. in a report on Thursday, January 25th. Cantor Fitzgerald restated a “hold” rating and issued a $86.00 price objective on shares of Life Storage in a report on Wednesday, February 21st. B. Riley set a $70.00 price objective on shares of Life Storage and gave the stock a “sell” rating in a report on Wednesday, February 21st. BMO Capital Markets set a $78.00 price objective on shares of Life Storage and gave the stock a “sell” rating in a report on Wednesday, February 21st. Finally, Zacks Investment Research cut shares of Life Storage from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a strong buy rating to the company’s stock. Life Storage presently has a consensus rating of “Hold” and a consensus price target of $81.79.

LSI traded up $1.26 during midday trading on Thursday, reaching $87.61. The company’s stock had a trading volume of 257,174 shares, compared to its average volume of 443,304. The stock has a market cap of $4,012.92, a PE ratio of 16.22, a price-to-earnings-growth ratio of 3.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.19 and a current ratio of 0.19. Life Storage has a 1 year low of $69.00 and a 1 year high of $91.75.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Friday, April 13th will be paid a $1.00 dividend. The ex-dividend date is Thursday, April 12th. This represents a $4.00 annualized dividend and a dividend yield of 4.57%. Life Storage’s dividend payout ratio is presently 75.33%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB bought a new position in shares of Life Storage in the fourth quarter worth approximately $341,000. MetLife Investment Advisors LLC bought a new position in shares of Life Storage in the fourth quarter worth approximately $2,623,000. Snow Park Capital Partners LP bought a new position in shares of Life Storage in the fourth quarter worth approximately $10,767,000. BB&T Securities LLC lifted its stake in shares of Life Storage by 24.5% in the fourth quarter. BB&T Securities LLC now owns 4,471 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 881 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new position in shares of Life Storage in the fourth quarter worth approximately $278,000.

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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 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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