Zacks: Brokerages Anticipate Life Storage Inc (LSI) to Post $1.34 Earnings Per Share

Wall Street analysts expect Life Storage Inc (NYSE:LSI) to report earnings per share (EPS) of $1.34 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.32 and the highest estimate coming in at $1.36. Life Storage posted earnings per share of $1.33 in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that Life Storage will report full year earnings of $5.37 per share for the current year, with EPS estimates ranging from $5.28 to $5.41. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.46 per share, with EPS estimates ranging from $5.24 to $5.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Life Storage.

Life Storage (NYSE:LSI) last issued its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.55). The company had revenue of $133.10 million during the quarter, compared to analyst estimates of $134.71 million. Life Storage had a net margin of 20.55% and a return on equity of 5.52%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS.

LSI has been the subject of a number of analyst reports. Zacks Investment Research cut Life Storage from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. Citigroup reaffirmed a “hold” rating and issued a $83.00 price target (down previously from $95.00) on shares of Life Storage in a report on Thursday, March 1st. BMO Capital Markets raised Life Storage from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $78.00 to $79.00 in a report on Friday, March 2nd. Jefferies Financial Group set a $82.00 price target on Life Storage and gave the stock a “hold” rating in a report on Monday, March 5th. Finally, Cantor Fitzgerald set a $84.00 price target on Life Storage and gave the stock a “hold” rating in a report on Thursday, March 8th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a strong buy rating to the stock. Life Storage currently has an average rating of “Hold” and an average price target of $82.93.

In other Life Storage news, President Kenneth F. Myszka sold 5,476 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $91.00, for a total transaction of $498,316.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Attea sold 27,679 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $92.52, for a total value of $2,560,861.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,106 shares of company stock valued at $6,835,588. 1.80% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Raymond James & Associates increased its stake in Life Storage by 5.5% during the 4th quarter. Raymond James & Associates now owns 13,321 shares of the real estate investment trust’s stock worth $1,186,000 after buying an additional 689 shares in the last quarter. US Bancorp DE increased its stake in Life Storage by 4.7% during the 1st quarter. US Bancorp DE now owns 15,944 shares of the real estate investment trust’s stock worth $1,332,000 after buying an additional 717 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Life Storage by 11.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,378 shares of the real estate investment trust’s stock worth $616,000 after buying an additional 734 shares in the last quarter. BB&T Securities LLC increased its stake in Life Storage by 24.5% during the 4th 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, Daiwa Securities Group Inc. increased its stake in Life Storage by 18.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the real estate investment trust’s stock worth $493,000 after buying an additional 900 shares in the last quarter. Institutional investors own 95.22% of the company’s stock.

NYSE LSI opened at $96.49 on Wednesday. The stock has a market capitalization of $4.46 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 3.83 and a beta of 0.50. Life Storage has a twelve month low of $69.00 and a twelve month high of $96.58. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.87.

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.

Get a free copy of the Zacks research report on Life Storage (LSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply