Brokerages expect Life Storage Inc (NYSE:LSI) to report sales of $132.58 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Life Storage’s earnings, with estimates ranging from $131.11 million to $134.28 million. Life Storage posted sales of $128.32 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The business is expected to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Life Storage will report full year sales of $132.58 million for the current year, with estimates ranging from $537.38 million to $604.00 million. For the next financial year, analysts expect that the company will post sales of $557.00 million per share, with estimates ranging from $545.35 million to $569.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Life Storage.
Life Storage (NYSE:LSI) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.03. The company had revenue of $133.08 million for the quarter, compared to analyst estimates of $133.46 million. Life Storage had a net margin of 18.19% and a return on equity of 4.83%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 EPS.
LSI has been the topic of a number of analyst reports. B. Riley set a $70.00 price objective on shares of Life Storage and gave the company a “sell” rating in a report on Wednesday, February 21st. UBS Group lowered shares of Life Storage from a “neutral” rating to a “sell” rating and set a $75.00 price objective on the stock. in a report on Friday, December 15th. SunTrust Banks restated a “hold” rating and issued a $80.00 price objective on shares of Life Storage in a report on Friday, November 24th. KeyCorp restated a “hold” rating on shares of Life Storage in a report on Sunday, November 19th. Finally, Citigroup restated a “hold” rating and issued a $83.00 price objective (down from $95.00) on shares of Life Storage in a report on Thursday, March 1st. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.29.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Life Storage by 3.4% in the 4th quarter. BlackRock Inc. now owns 5,170,261 shares of the real estate investment trust’s stock valued at $460,516,000 after buying an additional 170,576 shares during the last quarter. APG Asset Management US Inc. grew its position in shares of Life Storage by 29.8% in the 4th quarter. APG Asset Management US Inc. now owns 871,000 shares of the real estate investment trust’s stock valued at $77,580,000 after buying an additional 200,000 shares during the last quarter. Land & Buildings Investment Management LLC purchased a new position in shares of Life Storage in the 3rd quarter valued at $67,395,000. Macquarie Group Ltd. grew its position in shares of Life Storage by 8.8% in the 3rd quarter. Macquarie Group Ltd. now owns 771,796 shares of the real estate investment trust’s stock valued at $63,141,000 after buying an additional 62,544 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Life Storage by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 668,219 shares of the real estate investment trust’s stock valued at $54,665,000 after buying an additional 17,905 shares during the last quarter.
Shares of Life Storage (LSI) traded down $0.41 on Friday, hitting $81.25. 547,091 shares of the stock were exchanged, compared to its average volume of 455,606. Life Storage has a fifty-two week low of $69.00 and a fifty-two week high of $91.75. The firm has a market cap of $3,794.30, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 3.25 and a beta of 0.56. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.19 and a quick ratio of 0.19.
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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