Life Storage Inc (LSI) to Post FY2018 Earnings of $5.50 Per Share, Jefferies Group Forecasts
Life Storage Inc (NYSE:LSI) – Analysts at Jefferies Group lowered their FY2018 earnings per share estimates for shares of Life Storage in a research report issued to clients and investors on Tuesday. Jefferies Group analyst G. Hoglund now forecasts that the real estate investment trust will post earnings per share of $5.50 for the year, down from their previous estimate of $5.52. Jefferies Group has a “Hold” rating and a $86.00 price target on the stock. Jefferies Group also issued estimates for Life Storage’s FY2019 earnings at $5.78 EPS.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Life Storage from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Friday, November 3rd. SunTrust Banks restated a “hold” rating and issued a $75.00 price target on shares of Life Storage in a research report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of Life Storage in a research report on Thursday, October 12th. Wells Fargo & Co set a $91.00 price target on Life Storage and gave the company a “hold” rating in a research report on Thursday, November 30th. Finally, Cantor Fitzgerald raised their price target on Life Storage from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $81.00.
Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.54). Life Storage had a net margin of 17.79% and a return on equity of 4.65%.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Tuesday, January 16th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, January 12th. Life Storage’s payout ratio is currently 199.00%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Life Storage by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 68,554 shares of the real estate investment trust’s stock valued at $5,080,000 after acquiring an additional 1,241 shares during the last quarter. Brookfield Asset Management Inc. boosted its stake in shares of Life Storage by 12.1% during the second quarter. Brookfield Asset Management Inc. now owns 1,272,882 shares of the real estate investment trust’s stock valued at $94,321,000 after acquiring an additional 137,682 shares during the last quarter. APG Asset Management US Inc. boosted its stake in shares of Life Storage by 9.4% during the third quarter. APG Asset Management US Inc. now owns 671,000 shares of the real estate investment trust’s stock valued at $54,895,000 after acquiring an additional 57,500 shares during the last quarter. Land & Buildings Investment Management LLC acquired a new stake in shares of Life Storage during the third quarter valued at $67,395,000. Finally, Honeywell International Inc. acquired a new stake in shares of Life Storage during the third quarter valued at $593,000.
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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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