Brokerages forecast that Life Storage Inc (NYSE:LSI) will post $1.42 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Life Storage’s earnings, with estimates ranging from $1.40 to $1.44. Life Storage reported earnings per share of $1.38 during the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The company is scheduled to report its next quarterly earnings results on Monday, February 24th.
On average, analysts expect that Life Storage will report full year earnings of $5.61 per share for the current year, with EPS estimates ranging from $5.60 to $5.63. For the next fiscal year, analysts forecast that the company will post earnings of $6.01 per share, with EPS estimates ranging from $5.94 to $6.05. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Life Storage.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.60). Life Storage had a net margin of 54.38% and a return on equity of 14.85%. The business had revenue of $145.63 million for the quarter, compared to the consensus estimate of $146.77 million. During the same quarter in the prior year, the business posted $1.45 earnings per share. Life Storage’s revenue for the quarter was up 2.9% on a year-over-year basis.
Shares of NYSE LSI traded down $1.89 during midday trading on Friday, reaching $104.21. 529,200 shares of the company’s stock traded hands, compared to its average volume of 378,851. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.90. The stock’s 50 day simple moving average is $107.95 and its 200-day simple moving average is $103.05. Life Storage has a one year low of $89.54 and a one year high of $112.64. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 5.08 and a beta of 0.31.
A number of institutional investors and hedge funds have recently made changes to their positions in LSI. First Trust Advisors LP boosted its stake in Life Storage by 615.6% in the first quarter. First Trust Advisors LP now owns 63,199 shares of the real estate investment trust’s stock valued at $6,147,000 after acquiring an additional 54,368 shares in the last quarter. Arizona State Retirement System boosted its stake in Life Storage by 1.1% in the second quarter. Arizona State Retirement System now owns 33,845 shares of the real estate investment trust’s stock valued at $3,218,000 after acquiring an additional 360 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Life Storage in the second quarter valued at approximately $28,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Life Storage by 83.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,227 shares of the real estate investment trust’s stock valued at $5,156,000 after acquiring an additional 24,650 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Life Storage by 102.3% in the second quarter. SG Americas Securities LLC now owns 30,660 shares of the real estate investment trust’s stock valued at $2,915,000 after acquiring an additional 15,505 shares in the last quarter. Institutional investors own 92.28% of the company’s stock.
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 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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