Life Storage, Inc. (LSI) Set to Announce Quarterly Earnings on Tuesday
Life Storage, Inc. (NYSE:LSI) will be issuing its quarterly earnings data after the market closes on Tuesday, October 31st. Life Storage has set its Q3 guidance at $1.33 – $1.38 EPS and its FY17 guidance at $5.25 – $5.30 EPS.
Life Storage (NYSE:LSI) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.02). Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The company had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. During the same quarter in the prior year, the company earned $1.32 EPS. The business’s revenue was up 24.1% on a year-over-year basis. On average, analysts expect Life Storage to post $5.26 EPS for the current fiscal year and $5.39 EPS for the next fiscal year.
Life Storage, Inc. (NYSE:LSI) opened at 82.37 on Tuesday. Life Storage, Inc. has a 1-year low of $69.00 and a 1-year high of $89.24. The firm has a market cap of $3.82 billion, a P/E ratio of 72.06 and a beta of 0.58. The firm has a 50-day moving average of $80.95 and a 200 day moving average of $76.95.
Life Storage announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 2nd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Friday, October 13th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, October 12th. Life Storage’s dividend payout ratio is presently 347.83%.
In other Life Storage news, CFO Andrew J. Gregoire acquired 1,500 shares of the stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $71.65 per share, for a total transaction of $107,475.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,173 shares of the company’s stock, valued at $3,451,595.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul T. Powell acquired 700 shares of the stock in a transaction dated Monday, August 21st. The stock was acquired 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 of the company’s stock, valued at $3,220,363.72. The disclosure for this purchase can be found here. Insiders bought 3,190 shares of company stock worth $230,042 over the last quarter. 1.90% of the stock is owned by corporate insiders.
A number of equities research analysts recently weighed in on the stock. UBS AG reaffirmed a “neutral” rating and set a $75.00 price objective (down previously from $80.00) on shares of Life Storage in a research report on Wednesday, August 9th. Evercore ISI downgraded shares of Life Storage from an “in-line” rating to an “underperform” rating and lowered their price objective for the company from $77.00 to $71.00 in a research report on Monday, August 7th. Citigroup Inc. reaffirmed a “buy” rating and set a $85.00 price objective (down previously from $98.00) on shares of Life Storage in a research report on Thursday, August 10th. KeyCorp reaffirmed a “hold” rating on shares of Life Storage in a research report on Thursday, October 12th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $73.00 price objective on shares of Life Storage in a research report on Thursday, September 14th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $77.91.
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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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