Analysts expect Life Storage Inc (NYSE:LSI) to post $140.73 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Life Storage’s earnings. The lowest sales estimate is $138.99 million and the highest is $143.19 million. Life Storage posted sales of $135.57 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 31st.
On average, analysts expect that Life Storage will report full-year sales of $549.05 million for the current fiscal year, with estimates ranging from $539.61 million to $554.20 million. For the next year, analysts expect that the firm will post sales of $574.79 million, with estimates ranging from $559.58 million to $613.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Life Storage.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.50). The business had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $135.97 million. Life Storage had a return on equity of 6.53% and a net margin of 24.04%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $1.33 earnings per share.
Shares of LSI stock opened at $92.51 on Friday. The company has a market cap of $4.27 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 3.72 and a beta of 0.35. Life Storage has a 12-month low of $76.42 and a 12-month high of $102.91. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.86.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Tuesday, October 16th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Monday, October 15th. Life Storage’s payout ratio is currently 75.33%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Life Storage by 2.2% in the 2nd quarter. BlackRock Inc. now owns 5,441,447 shares of the real estate investment trust’s stock valued at $529,508,000 after purchasing an additional 117,316 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Life Storage by 16.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,816,194 shares of the real estate investment trust’s stock worth $274,044,000 after buying an additional 394,434 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Life Storage by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 717,211 shares of the real estate investment trust’s stock worth $69,792,000 after buying an additional 7,111 shares in the last quarter. Northern Trust Corp increased its position in Life Storage by 4.7% during the second quarter. Northern Trust Corp now owns 705,845 shares of the real estate investment trust’s stock worth $68,685,000 after buying an additional 31,787 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in Life Storage by 0.9% during the second quarter. Macquarie Group Ltd. now owns 626,889 shares of the real estate investment trust’s stock worth $61,003,000 after buying an additional 5,850 shares in the last quarter. 94.22% of the stock is owned by hedge funds and other institutional investors.
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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
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