Wall Street analysts predict that Life Storage Inc (NYSE:LSI) will post $1.32 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Life Storage’s earnings. The highest EPS estimate is $1.34 and the lowest is $1.28. Life Storage reported earnings per share of $1.30 during the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The company is scheduled to report its next earnings report on Wednesday, May 1st.
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 $5.53 to $5.66. For the next fiscal year, analysts expect that the business will report earnings of $5.76 per share, with EPS estimates ranging from $5.70 to $5.80. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Life Storage.
LSI has been the subject of a number of research analyst reports. Evercore ISI downgraded Life Storage from an “in-line” rating to an “underperform” rating in a report on Tuesday, December 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Finally, Bank of America set a $105.00 target price on Life Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $97.86.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Life Storage by 5.1% in the third quarter. Vanguard Group Inc. now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after acquiring an additional 354,370 shares during the period. Vanguard Group Inc grew its stake in Life Storage by 5.1% in the third quarter. Vanguard Group Inc now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after acquiring an additional 354,370 shares during the period. Cohen & Steers Inc. grew its stake in Life Storage by 0.4% in the fourth quarter. Cohen & Steers Inc. now owns 6,676,829 shares of the real estate investment trust’s stock valued at $620,878,000 after acquiring an additional 24,316 shares during the period. BlackRock Inc. grew its stake in Life Storage by 2.4% in the fourth quarter. BlackRock Inc. now owns 5,657,678 shares of the real estate investment trust’s stock valued at $526,106,000 after acquiring an additional 132,304 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in Life Storage by 14.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,672,431 shares of the real estate investment trust’s stock valued at $155,519,000 after acquiring an additional 216,317 shares during the period. 97.17% of the stock is owned by hedge funds and other institutional investors.
LSI stock traded up $0.03 during mid-day trading on Thursday, reaching $96.92. The company’s stock had a trading volume of 281,866 shares, compared to its average volume of 331,630. The company has a market cap of $4.52 billion, a P/E ratio of 17.69, a PEG ratio of 4.34 and a beta of 0.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.26 and a current ratio of 0.26. Life Storage has a 12 month low of $80.12 and a 12 month high of $102.91.
About Life Storage
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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