Life Storage (LSI) Releases Q4 Earnings Guidance

Life Storage (NYSE:LSI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.35-$1.39 for the period, compared to the Thomson Reuters consensus estimate of $1.37. Life Storage also updated its FY 2018 guidance to $5.46-5.52 EPS.

Several brokerages have weighed in on LSI. ValuEngine upgraded Life Storage from a hold rating to a buy rating in a research note on Wednesday, October 24th. Citigroup dropped their price objective on Life Storage from $100.00 to $91.00 and set a neutral rating on the stock in a research note on Friday, October 5th. SunTrust Banks restated a hold rating and set a $95.00 price objective on shares of Life Storage in a research note on Monday, September 24th. Zacks Investment Research upgraded Life Storage from a hold rating to a buy rating and set a $113.00 price objective on the stock in a research note on Thursday, August 23rd. Finally, DA Davidson raised their price objective on Life Storage to $105.00 in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $91.50.

Shares of NYSE LSI traded down $4.90 during mid-day trading on Friday, reaching $89.80. 17,317 shares of the company’s stock were exchanged, compared to its average volume of 290,604. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.86 and a beta of 0.35. Life Storage has a 52 week low of $76.42 and a 52 week high of $102.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.20 and a quick ratio of 0.20.

Life Storage (NYSE:LSI) last released its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.88. The company had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $141.10 million. Life Storage had a return on equity of 6.53% and a net margin of 24.04%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. Research analysts expect that Life Storage will post 5.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Tuesday, October 16th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Monday, October 15th. Life Storage’s payout ratio is 75.33%.

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

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