Zacks: Analysts Anticipate Life Storage Inc (LSI) Will Announce Earnings of $1.37 Per Share

Analysts expect that Life Storage Inc (NYSE:LSI) will post $1.37 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Life Storage’s earnings, with the highest EPS estimate coming in at $1.39 and the lowest estimate coming in at $1.33. Life Storage reported earnings per share of $1.34 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.2%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that Life Storage will report full-year earnings of $5.49 per share for the current fiscal year, with EPS estimates ranging from $5.46 to $5.53. For the next financial year, analysts expect that the company will post earnings of $5.62 per share, with EPS estimates ranging from $5.50 to $5.73. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Life Storage.

Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.88 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.88. Life Storage had a net margin of 24.81% and a return on equity of 6.68%. The business had revenue of $141.50 million for the quarter, compared to analyst estimates of $141.10 million. During the same period last year, the business earned $0.76 EPS. The company’s revenue was up 4.4% on a year-over-year basis.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research report on Thursday, August 23rd. ValuEngine raised shares of Life Storage from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. SunTrust Banks reaffirmed a “hold” rating and issued a $95.00 target price on shares of Life Storage in a research report on Monday, September 24th. Finally, Citigroup dropped their target price on shares of Life Storage from $100.00 to $91.00 and set a “neutral” rating on the stock in a research report on Friday, October 5th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Life Storage has an average rating of “Hold” and an average price target of $91.55.

In related news, President Kenneth F. Myszka sold 5,000 shares of the stock in a transaction on Monday, November 5th. The shares were sold at an average price of $94.39, for a total value of $471,950.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur L. Havener, Jr. sold 650 shares of the stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $99.00, for a total transaction of $64,350.00. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Life Storage by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 203,379 shares of the real estate investment trust’s stock worth $16,986,000 after purchasing an additional 5,334 shares during the last quarter. Bank of Montreal Can grew its position in Life Storage by 18.2% during the 2nd quarter. Bank of Montreal Can now owns 35,211 shares of the real estate investment trust’s stock worth $3,425,000 after purchasing an additional 5,415 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Life Storage during the 2nd quarter worth $206,000. Commonwealth Equity Services LLC purchased a new position in Life Storage during the 2nd quarter worth $611,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Life Storage by 6.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,512 shares of the real estate investment trust’s stock worth $4,623,000 after purchasing an additional 3,052 shares during the last quarter.

Shares of LSI opened at $101.17 on Wednesday. Life Storage has a twelve month low of $76.42 and a twelve month high of $102.91. The firm has a market capitalization of $4.74 billion, a PE ratio of 18.56, a PEG ratio of 4.11 and a beta of 0.39. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.87.

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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