Brokerages Expect Life Storage, Inc. (LSI) Will Post Quarterly Sales of $132.70 Million

Analysts predict that Life Storage, Inc. (NYSE:LSI) will report sales of $132.70 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Life Storage’s earnings, with the lowest sales estimate coming in at $131.68 million and the highest estimate coming in at $134.28 million. Life Storage reported sales of $128.32 million during the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, May 2nd.

On average, analysts expect that Life Storage will report full-year sales of $552.32 million for the current year, with estimates ranging from $537.38 million to $603.00 million. For the next year, analysts forecast that the business will post sales of $555.69 million per share, with estimates ranging from $545.35 million to $562.60 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Life Storage.

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Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $133.08 million during the quarter, compared to analyst estimates of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS.

Several equities analysts have recently weighed in on LSI shares. Robert W. Baird lowered shares of Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 target price for the company. in a report on Thursday, January 25th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $86.00 target price on shares of Life Storage in a report on Wednesday, February 21st. B. Riley set a $70.00 target price on shares of Life Storage and gave the company a “sell” rating in a report on Wednesday, February 21st. BMO Capital Markets set a $78.00 price target on shares of Life Storage and gave the stock a “sell” rating in a report on Wednesday, February 21st. Finally, Zacks Investment Research lowered shares of Life Storage from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $81.79.

Shares of NYSE:LSI traded up $1.26 during trading on Friday, hitting $87.61. 257,174 shares of the stock traded hands, compared to its average volume of 443,304. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market cap of $4,012.92, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 3.46 and a beta of 0.48. Life Storage has a 52-week low of $69.00 and a 52-week high of $91.75.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Investors of record on Friday, April 13th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, April 12th. Life Storage’s payout ratio is presently 75.33%.

Several institutional investors have recently added to or reduced their stakes in the company. AMP Capital Investors Ltd grew its holdings in shares of Life Storage by 3.5% during the third quarter. AMP Capital Investors Ltd now owns 17,696 shares of the real estate investment trust’s stock worth $1,448,000 after buying an additional 600 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Life Storage by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 72,882 shares of the real estate investment trust’s stock valued at $5,962,000 after acquiring an additional 635 shares during the last quarter. Raymond James & Associates boosted its position in shares of Life Storage by 5.5% during the 4th quarter. Raymond James & Associates now owns 13,321 shares of the real estate investment trust’s stock valued at $1,186,000 after acquiring an additional 689 shares during the last quarter. BB&T Securities LLC boosted its position in shares of Life Storage by 24.5% during the 4th quarter. BB&T Securities LLC now owns 4,471 shares of the real estate investment trust’s stock valued at $398,000 after acquiring an additional 881 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Life Storage by 1.1% during the 4th quarter. American International Group Inc. now owns 96,273 shares of the real estate investment trust’s stock valued at $8,575,000 after acquiring an additional 1,010 shares during the last quarter.

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

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