Equities research analysts expect Life Storage Inc (NYSE:LSI) to post $135.35 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Life Storage’s earnings. The highest sales estimate is $137.57 million and the lowest is $133.04 million. Life Storage posted sales of $132.78 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The company is expected to issue its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Life Storage will report full-year sales of $543.74 million for the current year, with estimates ranging from $537.21 million to $550.38 million. For the next fiscal year, analysts anticipate that the business will report sales of $569.22 million per share, with estimates ranging from $549.30 million to $613.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Life Storage.
Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.73 earnings per share for the quarter, missing the Zacks’ 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 return on equity of 5.52% and a net margin of 20.55%. Life Storage’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share.
Several equities research analysts have commented on LSI shares. Jefferies Financial Group set a $82.00 price target on shares of Life Storage and gave the stock a “hold” rating in a research report on Monday, March 5th. Zacks Investment Research raised shares of Life Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. ValuEngine raised shares of Life Storage from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. TheStreet raised shares of Life Storage from a “c+” rating to a “b” rating in a research report on Wednesday, May 2nd. Finally, SunTrust Banks boosted their price target on shares of Life Storage from $80.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, April 13th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $82.93.
NYSE:LSI traded down $0.11 on Friday, hitting $97.17. 373,000 shares of the company’s stock were exchanged, compared to its average volume of 418,393. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.23 and a quick ratio of 0.23. Life Storage has a 52 week low of $69.00 and a 52 week high of $98.46. The stock has a market capitalization of $4.50 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 3.87 and a beta of 0.50.
In other news, Director Robert J. Attea sold 27,679 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $92.52, for a total value of $2,560,861.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Kenneth F. Myszka sold 10,000 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $91.02, for a total transaction of $910,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,106 shares of company stock worth $6,835,588. 1.80% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of LSI. BlackRock Inc. raised its holdings in shares of Life Storage by 3.4% in the 4th quarter. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust’s stock valued at $460,516,000 after purchasing an additional 170,576 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Life Storage by 5.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,421,760 shares of the real estate investment trust’s stock valued at $202,265,000 after purchasing an additional 133,905 shares during the period. Snow Park Capital Partners LP bought a new stake in shares of Life Storage in the 4th quarter valued at about $10,767,000. Cbre Clarion Securities LLC bought a new stake in shares of Life Storage in the 4th quarter valued at about $10,604,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of Life Storage by 717.1% in the 1st quarter. Nuveen Asset Management LLC now owns 90,421 shares of the real estate investment trust’s stock valued at $7,552,000 after purchasing an additional 79,355 shares during the period. 95.22% of the stock is currently owned by institutional investors.
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.
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