$ 1.28 in earnings per share expected for Life Storage, Inc. (NYSE: LSI) this quarter
Wall Street brokerages expect Life Storage, Inc. (NYSE: LSI) to post earnings per share (EPS) of $ 1.28 for the current quarter, Zacks reports. Four analysts have released estimates for Life Storage earnings, with the lowest EPS estimate being $ 1.23 and the highest estimate being $ 1.36. Life Storage posted earnings per share of $ 1.07 in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.6%. The company is expected to publish its next results on Monday, February 28.
According to Zacks, analysts expect Life Storage to report annual earnings of $ 4.91 per share for the current fiscal year, with EPS estimates ranging from $ 4.77 to $ 5.03. For the next fiscal year, analysts expect the company to post earnings of $ 5.54 per share, with EPS estimates ranging from $ 5.20 to $ 6.08. Zacks Investment Research’s BPA calculations are an average based on a survey of sell-side research analysts who cover Life Storage.
Life Storage (NYSE: LSI) last released its quarterly earnings data on Tuesday, November 2. The REIT reported EPS of $ 0.89 for the quarter, missing the consensus estimate of $ 1.28 of ($ 0.39). Life Storage had a net margin of 29.53% and a return on equity of 8.17%. During the same period of the previous year, the company earned $ 1.01 per share.
Several brokerage firms have published reports on LSI. Raymond James raised his target price on Life Storage from $ 89 to $ 135 and gave the stock an “outperformance” rating in a research report on Tuesday, August 10. BMO Capital Markets reissued a “buy” rating on Life Storage shares in a research report on Friday, November 5. KeyCorp raised its target price on Life Storage from $ 128.00 to $ 146.00 and rated the stock “overweight” in a research report on Thursday. Berenberg Bank began covering Life Storage in a research report on Thursday, October 7. They issued a “buy” note and a target price of $ 143.00 on the stock. Finally, Citigroup raised its target price on Life Storage from $ 122.00 to $ 140.00 and gave the stock a “buy” rating in a research report on Thursday, September 16. Three analysts rated the stock with a conservation rating and seven gave the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has an average “Buy” rating and a consensus target price of $ 128.63.
In related news, director David L. Rogers sold 25,000 shares of Life Storage in a trade that took place on Tuesday, November 16. The stock was sold at an average price of $ 131.18, for a total trade of $ 3,279,500.00. The sale was disclosed in a file with the SEC, which can be accessed through the SEC’s website. 0.90% of the shares are currently held by insiders of the company.
A number of institutional investors and hedge funds have recently changed their holdings to LSI. First Trust Advisors LP increased its stake in Life Storage by 615.6% during the 1st quarter. First Trust Advisors LP now owns 63,199 real estate investment trust shares valued at $ 6,147,000 after purchasing an additional 54,368 shares during the period. Hoylecohen LLC increased its stake in Life Storage by 49.9% during the 1st quarter. Hoylecohen LLC now owns 5,773 real estate investment trust shares valued at $ 496,000 after purchasing an additional 1,923 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Life Storage by 53.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,701 Real Estate Investment Trust shares valued at $ 2,037,000 after acquiring an additional 8,234 shares during the last quarter. Royal Bank of Canada increased its stake in Life Storage by 17.1% in the 1st quarter. Royal Bank of Canada now owns 24,326 REIT shares valued at $ 2,091,000 after acquiring 3,560 additional shares during the last quarter. Finally, Ameritas Investment Company LLC acquired a new stake in Life Storage in the 1st quarter for a value of approximately $ 25,000. 90.39% of the shares are currently held by institutional investors.
NYSE: LSI traded up $ 0.62 on Friday, reaching $ 134.60. The stock had a trading volume of 639,448 shares, compared to its average volume of 543,766. The stock has a market cap of $ 11.04 billion, a price / earnings ratio of 47.56, a price / earnings-growth of 7.26 and a beta of 0.41. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt ratio of 0.69. The company’s 50-day simple moving average is $ 125.25 and its two-hundred-day simple moving average is $ 116.12. Life Storage has a 52 week low of $ 71.43 and a 52 week high of $ 139.95.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 26. Shareholders of record on Wednesday October 13 received a dividend of $ 0.86 per share. This is a boost from Life Storage’s previous quarterly dividend of $ 0.74. This represents a dividend of $ 3.44 on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Tuesday, October 12. Life Storage’s payout ratio is currently 121.56%.
About Life Storage
Life Storage, Inc is a real estate investment trust that deals with the acquisition, ownership and management of self-storage properties. It offers commercial, vehicle and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.
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