Brokerages predict that Life Storage Inc (NYSE:LSI) will announce earnings per share of $1.46 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Life Storage’s earnings, with the highest EPS estimate coming in at $1.48 and the lowest estimate coming in at $1.44. Life Storage posted earnings per share of $1.45 during the same quarter last year, which suggests a positive year over year growth rate of 0.7%. The business is scheduled to report its next earnings results on Wednesday, October 30th.
According to Zacks, analysts expect that Life Storage will report full-year earnings of $5.59 per share for the current fiscal year, with EPS estimates ranging from $5.57 to $5.60. For the next year, analysts forecast that the business will report earnings of $5.79 per share, with EPS estimates ranging from $5.74 to $5.92. Zacks’ EPS averages are a mean average based on a survey of research analysts that follow Life Storage.
Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.54). The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $142.96 million. Life Storage had a return on equity of 10.21% and a net margin of 37.17%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 EPS.
A number of equities analysts have recently weighed in on LSI shares. Robert W. Baird raised shares of Life Storage from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $92.00 to $101.00 in a research note on Wednesday, August 21st. Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus started coverage on shares of Life Storage in a research report on Monday, August 19th. They set a “hold” rating and a $106.00 target price on the stock. Raymond James upgraded Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 price objective for the company in a research report on Monday, July 8th. They noted that the move was a valuation call. Finally, Evercore ISI upgraded shares of Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 target price on the stock in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Life Storage has an average rating of “Hold” and a consensus target price of $102.56.
In related news, COO Edward F. Killeen sold 1,500 shares of Life Storage stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $105.06, for a total transaction of $157,590.00. Following the sale, the chief operating officer now directly owns 26,998 shares of the company’s stock, valued at approximately $2,836,409.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew J. Gregoire sold 3,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $105.04, for a total value of $315,120.00. Following the sale, the chief financial officer now owns 52,224 shares in the company, valued at approximately $5,485,608.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,500 shares of company stock worth $679,690. Insiders own 0.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LSI. Steward Partners Investment Advisory LLC acquired a new position in shares of Life Storage during the 2nd quarter valued at $28,000. TRUE Private Wealth Advisors purchased a new stake in Life Storage in the second quarter worth $85,000. Harvest Fund Management Co. Ltd raised its stake in Life Storage by 228.0% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 984 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 684 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of Life Storage in the first quarter valued at approximately $98,000. Finally, Assetmark Inc. raised its holdings in Life Storage by 61.9% during the 2nd quarter. Assetmark Inc. now owns 1,627 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 622 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:LSI traded up $0.80 during midday trading on Friday, reaching $104.20. The company had a trading volume of 382,450 shares, compared to its average volume of 373,520. Life Storage has a 1-year low of $88.92 and a 1-year high of $106.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 4.74 and a beta of 0.35. The company has a fifty day simple moving average of $102.34 and a two-hundred day simple moving average of $98.14.
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.
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