Life Storage, Inc. (NYSE:LSI) – Equities research analysts at FBR & Co reduced their Q3 2017 earnings per share estimates for shares of Life Storage in a report issued on Tuesday. FBR & Co analyst D. Corak now expects that the real estate investment trust will post earnings of $1.35 per share for the quarter, down from their prior estimate of $1.48. FBR & Co currently has a “Sell” rating and a $70.00 target price on the stock. FBR & Co also issued estimates for Life Storage’s Q4 2017 earnings at $1.34 EPS, FY2017 earnings at $5.27 EPS, Q1 2018 earnings at $1.32 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $5.39 EPS and FY2019 earnings at $5.25 EPS.
Life Storage (NYSE:LSI) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). The firm had revenue of $132.78 million for the quarter, compared to analyst estimates of $132.62 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. TRADEMARK VIOLATION WARNING: This piece of content was first reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2017/09/13/fbr-co-comments-on-life-storage-inc-s-q3-2017-earnings-lsi.html.
LSI has been the subject of several other research reports. UBS AG reissued a “neutral” rating and set a $75.00 price objective (down previously from $80.00) on shares of Life Storage in a report on Wednesday, August 9th. ValuEngine lowered Life Storage from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered Life Storage from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group LLC reissued a “hold” rating and set a $80.00 price objective on shares of Life Storage in a report on Wednesday, June 14th. Finally, Citigroup Inc. reissued a “buy” rating and set a $85.00 price objective (down previously from $98.00) on shares of Life Storage in a report on Thursday, August 10th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Life Storage currently has a consensus rating of “Hold” and an average target price of $77.82.
Shares of Life Storage (NYSE LSI) opened at 77.32 on Wednesday. The firm’s 50-day moving average is $74.16 and its 200-day moving average is $77.76. The firm has a market capitalization of $3.58 billion, a P/E ratio of 67.65 and a beta of 0.57. Life Storage has a 52 week low of $69.00 and a 52 week high of $95.05.
In other Life Storage news, insider Paul T. Powell bought 700 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average price of $71.57 per share, for a total transaction of $50,099.00. Following the completion of the acquisition, the insider now directly owns 44,996 shares in the company, valued at $3,220,363.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew J. Gregoire bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $71.65 per share, with a total value of $107,475.00. Following the acquisition, the chief financial officer now owns 48,173 shares of the company’s stock, valued at $3,451,595.45. The disclosure for this purchase can be found here. Insiders acquired 3,190 shares of company stock valued at $230,042 in the last quarter. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Life Storage by 9.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,414 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 124 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of Life Storage during the first quarter valued at approximately $193,000. Advisor Group Inc. raised its holdings in shares of Life Storage by 14.9% during the second quarter. Advisor Group Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 387 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Life Storage during the second quarter valued at approximately $222,000. Finally, Paragon Capital Management Ltd bought a new position in shares of Life Storage during the second quarter valued at approximately $232,000. Institutional investors own 99.62% of the company’s stock.
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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