Life Storage (NYSE:LSI) updated its fourth quarter 2018 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.35-1.39 for the period. Life Storage also updated its FY 2018 guidance to $5.46-5.52 EPS.
A number of equities analysts have issued reports on the stock. BMO Capital Markets reissued a hold rating and set a $87.00 price target on shares of Life Storage in a research report on Wednesday, August 1st. Bank of America raised their price target on shares of Life Storage from $98.00 to $100.00 and gave the stock a neutral rating in a research report on Monday, July 16th. ValuEngine lowered shares of Life Storage from a buy rating to a hold rating in a research report on Thursday, September 27th. Jefferies Financial Group set a $95.00 price target on shares of Life Storage and gave the stock a hold rating in a research report on Tuesday, July 17th. Finally, Zacks Investment Research raised shares of Life Storage from a hold rating to a buy rating and set a $109.00 price target for the company in a research report on Thursday, July 5th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $91.50.
Shares of NYSE LSI traded down $2.94 during midday trading on Friday, reaching $91.76. 6,740 shares of the 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 17.51, a PEG ratio of 3.86 and a beta of 0.35. Life Storage has a twelve month low of $76.42 and a twelve month 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 issued its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.88 EPS for the quarter, hitting analysts’ consensus estimates of $0.88. The business had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $141.10 million. Life Storage had a net margin of 24.04% and a return on equity of 6.53%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. Analysts anticipate that Life Storage will post 5.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Tuesday, October 16th were paid a $1.00 dividend. The ex-dividend date was Monday, October 15th. This represents a $4.00 dividend on an annualized basis and a yield of 4.36%. Life Storage’s dividend payout ratio is currently 75.33%.
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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