Equities analysts forecast that Life Storage Inc (NYSE:LSI) will report $1.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Life Storage’s earnings, with estimates ranging from $1.26 to $1.30. Life Storage posted earnings per share of $1.26 during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The firm is expected to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Life Storage will report full year earnings of $5.37 per share for the current financial year, with EPS estimates ranging from $5.33 to $5.41. For the next fiscal year, analysts anticipate that the business will post earnings of $5.42 per share, with EPS estimates ranging from $5.13 to $5.59. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Life Storage.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Life Storage had a return on equity of 4.83% and a net margin of 18.19%. The business had revenue of $133.08 million for the quarter, compared to the consensus estimate of $133.46 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. Life Storage’s revenue for the quarter was up 3.4% compared to the same quarter last year.
A number of research analysts have recently weighed in on LSI shares. B. Riley set a $70.00 price target on Life Storage and gave the company a “sell” rating in a report on Wednesday, February 21st. UBS cut Life Storage from a “neutral” rating to a “sell” rating and set a $75.00 price objective for the company. in a research report on Friday, December 15th. Citigroup reissued a “hold” rating and set a $83.00 price objective (down previously from $95.00) on shares of Life Storage in a research report on Thursday, March 1st. Jefferies Group set a $82.00 price objective on Life Storage and gave the company a “hold” rating in a research report on Monday, March 5th. Finally, BMO Capital Markets raised Life Storage from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $78.00 to $79.00 in a research report on Friday, March 2nd. Five 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’s stock. Life Storage presently has an average rating of “Hold” and a consensus price target of $81.29.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Life Storage by 3.4% in the fourth quarter. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust’s stock worth $460,516,000 after buying an additional 170,576 shares during the last quarter. APG Asset Management US Inc. lifted its position in shares of Life Storage by 29.8% in the fourth quarter. APG Asset Management US Inc. now owns 871,000 shares of the real estate investment trust’s stock worth $77,580,000 after buying an additional 200,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Life Storage by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 668,219 shares of the real estate investment trust’s stock worth $54,665,000 after buying an additional 17,905 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Life Storage by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 664,629 shares of the real estate investment trust’s stock worth $54,373,000 after buying an additional 50,363 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Life Storage by 922.2% in the third quarter. JPMorgan Chase & Co. now owns 590,488 shares of the real estate investment trust’s stock worth $47,699,000 after buying an additional 532,721 shares during the last quarter.
Shares of LSI stock remained flat at $$83.52 on Monday. The stock had a trading volume of 403,401 shares, compared to its average volume of 448,963. Life Storage has a twelve month low of $69.00 and a twelve month high of $91.75. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $3,885.00, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 3.35 and a beta of 0.48.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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