$1.32 EPS Expected for Life Storage Inc (LSI) This Quarter
Equities research analysts forecast that Life Storage Inc (NYSE:LSI) will post $1.32 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Life Storage’s earnings. The lowest EPS estimate is $1.28 and the highest is $1.37. Life Storage posted earnings per share of $1.30 in the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The company is expected to issue its next earnings results after the market closes on Wednesday, May 1st.
According to Zacks, analysts expect that Life Storage will report full-year earnings of $5.58 per share for the current financial year, with EPS estimates ranging from $5.52 to $5.63. For the next year, analysts expect that the firm will report earnings of $5.73 per share, with EPS estimates ranging from $5.70 to $5.80. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Life Storage.
A number of equities analysts have commented on the stock. ValuEngine lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, Bank of America lowered shares of Life Storage from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $105.00 to $99.00 in a research report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $97.86.
Several hedge funds have recently made changes to their positions in LSI. Martingale Asset Management L P lifted its position in shares of Life Storage by 56.0% during the third quarter. Martingale Asset Management L P now owns 9,204 shares of the real estate investment trust’s stock worth $876,000 after purchasing an additional 3,304 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Life Storage by 89.5% during the third quarter. Panagora Asset Management Inc. now owns 3,695 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 1,745 shares in the last quarter. United Services Automobile Association lifted its position in shares of Life Storage by 21.3% during the third quarter. United Services Automobile Association now owns 10,175 shares of the real estate investment trust’s stock worth $968,000 after purchasing an additional 1,789 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Life Storage by 4.2% during the third quarter. The Manufacturers Life Insurance Company now owns 77,252 shares of the real estate investment trust’s stock worth $7,351,000 after purchasing an additional 3,081 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Life Storage by 39.2% during the third quarter. Advisors Asset Management Inc. now owns 9,460 shares of the real estate investment trust’s stock worth $900,000 after purchasing an additional 2,664 shares in the last quarter. Institutional investors own 98.09% of the company’s stock.
NYSE LSI traded down $1.63 on Monday, reaching $92.59. The company’s stock had a trading volume of 27,426 shares, compared to its average volume of 411,677. The stock has a market cap of $4.35 billion, a P/E ratio of 16.80, a PEG ratio of 4.27 and a beta of 0.46. Life Storage has a 52 week low of $84.78 and a 52 week high of $102.91. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.83.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $4.00 dividend on an annualized basis and a yield of 4.32%. Life Storage’s dividend payout ratio (DPR) is presently 72.60%.
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 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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