Analysts Expect Life Storage Inc (NYSE:LSI) to Post $1.42 Earnings Per Share

Wall Street brokerages expect Life Storage Inc (NYSE:LSI) to announce earnings per share of $1.42 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Life Storage’s earnings, with the highest EPS estimate coming in at $1.44 and the lowest estimate coming in at $1.40. Life Storage posted earnings per share of $1.38 in the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The business is scheduled to issue its next quarterly earnings report on Monday, February 24th.

According to Zacks, analysts expect that Life Storage will report full-year earnings of $5.61 per share for the current fiscal year, with EPS estimates ranging from $5.60 to $5.63. For the next financial year, analysts expect that the business will post earnings of $6.02 per share, with EPS estimates ranging from $6.00 to $6.05. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Life Storage.

Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.85 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.60). Life Storage had a net margin of 54.38% and a return on equity of 14.85%. The business had revenue of $145.63 million for the quarter, compared to analysts’ expectations of $146.77 million. During the same period last year, the business earned $1.45 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis.

A number of research analysts have weighed in on LSI shares. Zacks Investment Research raised Life Storage from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, October 15th. Robert W. Baird raised Life Storage from an “underperform” rating to a “neutral” rating and increased their target price for the company from $92.00 to $101.00 in a report on Wednesday, August 21st. Stifel Nicolaus raised Life Storage from a “hold” rating to a “buy” rating and increased their target price for the company from $106.00 to $114.00 in a report on Thursday, October 31st. Raymond James increased their target price on Life Storage from $106.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group raised Life Storage from a “hold” rating to a “buy” rating and increased their target price for the company from $113.00 to $122.00 in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Life Storage presently has an average rating of “Hold” and an average price target of $110.00.

In other Life Storage news, CFO Andrew J. Gregoire sold 3,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $105.04, for a total value of $315,120.00. Following the transaction, the chief financial officer now owns 52,224 shares of the company’s stock, valued at $5,485,608.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Edward F. Killeen sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $105.06, for a total value of $157,590.00. Following the completion of the transaction, the chief operating officer now directly owns 26,998 shares in the company, valued at approximately $2,836,409.88. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in shares of Life Storage by 2.3% in the second quarter. California Public Employees Retirement System now owns 78,389 shares of the real estate investment trust’s stock worth $7,453,000 after buying an additional 1,769 shares during the period. Prudential Financial Inc. grew its position in shares of Life Storage by 20.3% during the second quarter. Prudential Financial Inc. now owns 70,052 shares of the real estate investment trust’s stock worth $6,661,000 after purchasing an additional 11,820 shares in the last quarter. Tyers Asset Management LLC grew its position in shares of Life Storage by 17.8% during the second quarter. Tyers Asset Management LLC now owns 10,556 shares of the real estate investment trust’s stock worth $1,004,000 after purchasing an additional 1,596 shares in the last quarter. Virginia Retirement Systems ET AL grew its position in shares of Life Storage by 12.2% during the third quarter. Virginia Retirement Systems ET AL now owns 16,600 shares of the real estate investment trust’s stock worth $1,750,000 after purchasing an additional 1,800 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Life Storage by 1.9% during the second quarter. UBS Asset Management Americas Inc. now owns 165,392 shares of the real estate investment trust’s stock worth $15,725,000 after purchasing an additional 3,124 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Life Storage stock traded up $0.30 during trading on Thursday, hitting $110.10. 307,292 shares of the company’s stock traded hands, compared to its average volume of 380,072. Life Storage has a 1 year low of $89.54 and a 1 year high of $112.64. The business has a 50-day simple moving average of $106.88 and a 200-day simple moving average of $101.57. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $5.12 billion, a P/E ratio of 19.98, a PEG ratio of 5.07 and a beta of 0.31.

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Friday, October 11th. Life Storage’s dividend payout ratio is 72.60%.

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.

Further Reading: Limitations to arbitrage trading

Get a free copy of the Zacks research report on Life Storage (LSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Life Storage (NYSE:LSI)

Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with MarketBeat.com's FREE daily email newsletter.