Analysts predict that Life Storage Inc (NYSE:LSI) will announce sales of $139.76 million for the current quarter, according to Zacks. Five analysts have made estimates for Life Storage’s earnings, with the highest sales estimate coming in at $143.19 million and the lowest estimate coming in at $137.34 million. Life Storage reported sales of $135.57 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Life Storage will report full year sales of $547.17 million for the current year, with estimates ranging from $539.33 million to $553.48 million. For the next year, analysts forecast that the business will report sales of $571.87 million per share, with estimates ranging from $549.30 million to $613.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Life Storage.
Life Storage (NYSE:LSI) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.50). Life Storage had a return on equity of 6.53% and a net margin of 24.04%. The firm had revenue of $138.00 million for the quarter, compared to analyst estimates of $135.97 million. During the same period last year, the company posted $1.33 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year.
LSI has been the topic of a number of research reports. DA Davidson upped their price target on Life Storage to $105.00 in a research note on Friday, August 3rd. TheStreet raised Life Storage from a “c+” rating to a “b” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Thursday, July 5th. ValuEngine raised Life Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, Bank of America reaffirmed a “hold” rating and set a $93.00 price target (up from $90.00) on shares of Life Storage in a research note on Tuesday, May 8th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Life Storage presently has a consensus rating of “Hold” and an average target price of $88.64.
LSI stock traded down $0.60 during trading on Monday, reaching $101.64. 271,300 shares of the stock were exchanged, compared to its average volume of 435,199. Life Storage has a twelve month low of $71.42 and a twelve month high of $102.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $4.53 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 3.97 and a beta of 0.44.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 26th. Stockholders of record on Monday, July 16th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Friday, July 13th. Life Storage’s dividend payout ratio (DPR) is presently 75.33%.
In other news, President Kenneth F. Myszka sold 5,476 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $91.00, for a total value of $498,316.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.
Several institutional investors have recently modified their holdings of LSI. Raymond James & Associates raised its stake in shares of Life Storage by 5.5% in the fourth quarter. Raymond James & Associates now owns 13,321 shares of the real estate investment trust’s stock worth $1,186,000 after purchasing an additional 689 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Life Storage during the fourth quarter valued at approximately $3,429,000. Daiwa Securities Group Inc. increased its position in shares of Life Storage by 18.0% during the first quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the real estate investment trust’s stock valued at $493,000 after acquiring an additional 900 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Life Storage by 11.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,378 shares of the real estate investment trust’s stock valued at $616,000 after acquiring an additional 734 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Life Storage by 4.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 44,460 shares of the real estate investment trust’s stock valued at $3,713,000 after acquiring an additional 1,800 shares during the last quarter. 95.73% of the stock is owned by hedge funds and other institutional investors.
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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