Life Storage (NYSE:LSI) Announces Earnings Results

Life Storage (NYSE:LSI) announced its quarterly earnings results on Sunday. The real estate investment trust reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.47), MarketWatch Earnings reports. Life Storage had a return on equity of 7.09% and a net margin of 25.67%. The company had revenue of $166.51 million for the quarter, compared to analyst estimates of $161.41 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year.

Shares of Life Storage stock traded up $1.65 on Tuesday, hitting $85.61. 490,178 shares of the company’s stock traded hands, compared to its average volume of 677,598. The firm’s 50-day moving average price is $82.26 and its two-hundred day moving average price is $76.04. The stock has a market capitalization of $6.35 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 5.27 and a beta of 0.32. Life Storage has a one year low of $44.87 and a one year high of $87.21. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.18 and a quick ratio of 1.18.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 27th. Shareholders of record on Friday, January 15th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, January 14th. Life Storage’s payout ratio is 52.67%.

LSI has been the topic of several analyst reports. Evercore ISI restated an “in-line” rating and issued a $82.00 target price on shares of Life Storage in a research report on Monday, February 1st. Raymond James raised their price objective on Life Storage from $80.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. BMO Capital Markets raised Life Storage from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $81.33 to $93.33 in a research note on Thursday, January 7th. Truist raised their target price on Life Storage from $66.67 to $82.00 in a research report on Thursday, December 31st. Finally, Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 18th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $80.52.

In other Life Storage news, CFO Andrew J. Gregoire sold 5,000 shares of the company’s stock in a transaction on Friday, December 11th. The shares were sold at an average price of $114.31, for a total transaction of $571,550.00. Following the completion of the sale, the chief financial officer now owns 59,181 shares in the company, valued at approximately $6,764,980.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Life Storage Company Profile

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

Further Reading: Average Daily Trade Volume – What It Means In Stock Trading

Earnings History 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.