Analysts Expect Life Storage Inc (LSI) Will Post Quarterly Sales of $137.77 Million
Brokerages expect Life Storage Inc (NYSE:LSI) to announce sales of $137.77 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Life Storage’s earnings, with the highest sales estimate coming in at $141.20 million and the lowest estimate coming in at $134.46 million. Life Storage reported sales of $133.08 million during the same quarter last year, which indicates a positive year over year growth rate of 3.5%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 20th.
On average, analysts expect that Life Storage will report full year sales of $547.43 million for the current fiscal year, with estimates ranging from $539.61 million to $554.20 million. For the next financial year, analysts expect that the business will report sales of $574.20 million, with estimates ranging from $559.58 million to $613.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Life Storage.
Life Storage (NYSE:LSI) last released its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. Life Storage had a net margin of 24.81% and a return on equity of 6.68%. The firm had revenue of $141.50 million during the quarter, compared to analyst estimates of $141.10 million. During the same period last year, the business earned $0.76 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis.
In related news, President Kenneth F. Myszka sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $94.39, for a total transaction of $471,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB bought a new stake in Life Storage in the 3rd quarter worth approximately $6,826,000. Cohen & Steers Inc. grew its position in Life Storage by 114.6% in the 3rd quarter. Cohen & Steers Inc. now owns 6,652,513 shares of the real estate investment trust’s stock worth $633,053,000 after purchasing an additional 3,552,687 shares during the period. Teachers Advisors LLC grew its position in Life Storage by 21.2% in the 3rd quarter. Teachers Advisors LLC now owns 76,132 shares of the real estate investment trust’s stock worth $7,245,000 after purchasing an additional 13,337 shares during the period. Neuberger Berman Group LLC grew its position in Life Storage by 44.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,406 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,043 shares during the period. Finally, AQR Capital Management LLC grew its position in Life Storage by 15.6% in the 3rd quarter. AQR Capital Management LLC now owns 13,048 shares of the real estate investment trust’s stock worth $1,242,000 after purchasing an additional 1,757 shares during the period. 97.65% of the stock is owned by institutional investors.
Shares of LSI stock traded up $0.11 during trading hours on Wednesday, hitting $97.87. 190,890 shares of the company’s stock traded hands, compared to its average volume of 399,915. Life Storage has a 12-month low of $76.42 and a 12-month high of $102.91. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 3.96 and a beta of 0.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.28 and a current ratio of 0.28.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Tuesday, October 16th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Monday, October 15th. Life Storage’s dividend payout ratio (DPR) is currently 75.33%.
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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