Wall Street analysts predict that Life Storage Inc (NYSE:LSI) will report $140.29 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Life Storage’s earnings, with the highest sales estimate coming in at $143.19 million and the lowest estimate coming in at $138.99 million. Life Storage posted sales of $135.57 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.5%. The business is expected to announce its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Life Storage will report full-year sales of $547.97 million for the current fiscal year, with estimates ranging from $539.61 million to $553.48 million. For the next fiscal year, analysts expect that the firm will report sales of $573.86 million per share, with estimates ranging from $559.58 million to $613.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Life Storage.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.50). The company had revenue of $138.00 million during the quarter, compared to analyst estimates of $135.97 million. Life Storage had a net margin of 24.04% and a return on equity of 6.53%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS.
LSI has been the subject of a number of research reports. Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a report on Thursday, July 5th. Bank of America raised their price target on shares of Life Storage from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, July 16th. ValuEngine lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. BMO Capital Markets reissued a “hold” rating and issued a $87.00 price target on shares of Life Storage in a report on Wednesday, August 1st. Finally, Jefferies Financial Group set a $95.00 price target on shares of Life Storage and gave the company a “hold” rating in a report on Tuesday, July 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $91.58.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund grew its holdings in Life Storage by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,969 shares of the real estate investment trust’s stock worth $1,749,000 after acquiring an additional 523 shares during the period. US Bancorp DE grew its holdings in Life Storage by 4.7% during the 1st quarter. US Bancorp DE now owns 15,944 shares of the real estate investment trust’s stock worth $1,332,000 after acquiring an additional 717 shares during the period. Arizona State Retirement System grew its holdings in Life Storage by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 32,296 shares of the real estate investment trust’s stock worth $3,143,000 after acquiring an additional 800 shares during the period. Intersect Capital LLC grew its holdings in Life Storage by 6.8% during the 2nd quarter. Intersect Capital LLC now owns 15,230 shares of the real estate investment trust’s stock worth $1,482,000 after acquiring an additional 975 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Life Storage by 333.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 1,000 shares during the period. 94.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Life Storage stock opened at $96.54 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $4.61 billion, a P/E ratio of 18.18, a P/E/G ratio of 4.03 and a beta of 0.40. Life Storage has a fifty-two week low of $76.42 and a fifty-two week high of $102.91.
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 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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