Analysts predict that Life Storage Inc (NYSE:LSI) will post $1.46 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Life Storage’s earnings, with the lowest EPS estimate coming in at $1.44 and the highest estimate coming in at $1.48. Life Storage posted earnings per share of $1.45 in the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The company is scheduled to issue its next quarterly 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 financial year, with EPS estimates ranging from $5.57 to $5.60. For the next fiscal year, analysts forecast that the business will report earnings of $5.78 per share, with EPS estimates ranging from $5.70 to $5.92. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Life Storage.

Life Storage (NYSE:LSI) last posted 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). Life Storage had a net margin of 37.17% and a return on equity of 10.21%. The company had revenue of $145.00 million for the quarter, compared to analyst estimates of $142.96 million. During the same quarter in the previous year, the business posted $1.39 earnings per share. Life Storage’s revenue was up 5.1% on a year-over-year basis.

A number of equities research analysts have recently issued reports on LSI shares. Zacks Investment Research upgraded shares of Life Storage from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Wednesday. KeyCorp lifted their price target on shares of Life Storage from $106.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. 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 Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price objective for the company in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Life Storage currently has a consensus rating of “Hold” and a consensus target price of $102.29.

In related news, Director Charles E. Lannon sold 2,000 shares of Life Storage stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $103.49, for a total transaction of $206,980.00. Following the completion of the transaction, the director now directly owns 117,152 shares in the company, valued at approximately $12,124,060.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. PGGM Investments purchased a new stake in Life Storage during the 2nd quarter worth $227,266,000. Invesco Ltd. boosted its position in Life Storage by 4.7% during the 2nd quarter. Invesco Ltd. now owns 1,022,029 shares of the real estate investment trust’s stock worth $97,175,000 after purchasing an additional 46,116 shares during the period. Northern Trust Corp boosted its position in Life Storage by 47.1% during the 1st quarter. Northern Trust Corp now owns 924,685 shares of the real estate investment trust’s stock worth $89,944,000 after purchasing an additional 296,148 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Life Storage by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 736,887 shares of the real estate investment trust’s stock worth $70,064,000 after purchasing an additional 5,188 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Life Storage by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 638,201 shares of the real estate investment trust’s stock worth $60,680,000 after purchasing an additional 18,967 shares during the period. 97.87% of the stock is owned by hedge funds and other institutional investors.

Shares of LSI stock traded down $1.57 during midday trading on Wednesday, reaching $99.43. 507,770 shares of the company traded hands, compared to its average volume of 372,657. The business’s 50 day moving average price is $99.03. Life Storage has a 1-year low of $88.92 and a 1-year high of $103.68. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.92. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 4.68 and a beta of 0.37.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Tuesday, July 16th were given a dividend of $1.00 per share. The ex-dividend date was Monday, July 15th. This represents a $4.00 annualized dividend and a dividend yield of 4.02%. Life Storage’s dividend payout ratio is currently 72.60%.

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

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