Equities research analysts predict that Life Storage Inc (NYSE:LSI) will report $132.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Life Storage’s earnings. The highest sales estimate is $136.01 million and the lowest is $130.05 million. Life Storage posted sales of $128.68 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The firm is expected to announce its next earnings report after the market closes on Wednesday, February 21st.
On average, analysts expect that Life Storage will report full year sales of $132.88 million for the current fiscal year, with estimates ranging from $519.24 million to $534.00 million. For the next year, analysts forecast that the business will report sales of $553.50 million per share, with estimates ranging from $527.63 million to $604.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Life Storage.
Several research firms have recently issued reports on LSI. Robert W. Baird lowered Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 target price for the company. in a report on Thursday, January 25th. SunTrust Banks reissued a “hold” rating and set a $80.00 price objective on shares of Life Storage in a report on Friday, November 24th. KeyCorp reissued a “hold” rating on shares of Life Storage in a report on Sunday, November 19th. Jefferies Group set a $86.00 price objective on Life Storage and gave the company a “hold” rating in a report on Tuesday, November 28th. Finally, Cantor Fitzgerald increased their price objective on Life Storage from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. Life Storage presently has an average rating of “Hold” and an average target price of $81.79.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Tuesday, January 16th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Friday, January 12th. Life Storage’s dividend payout ratio (DPR) is 199.01%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in shares of Life Storage by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 68,554 shares of the real estate investment trust’s stock worth $5,080,000 after acquiring an additional 1,241 shares in the last quarter. Brookfield Asset Management Inc. lifted its position in shares of Life Storage by 12.1% during the second quarter. Brookfield Asset Management Inc. now owns 1,272,882 shares of the real estate investment trust’s stock worth $94,321,000 after acquiring an additional 137,682 shares in the last quarter. APG Asset Management US Inc. lifted its position in shares of Life Storage by 9.4% during the third quarter. APG Asset Management US Inc. now owns 671,000 shares of the real estate investment trust’s stock worth $54,895,000 after acquiring an additional 57,500 shares in the last quarter. Land & Buildings Investment Management LLC purchased a new stake in shares of Life Storage during the third quarter worth $67,395,000. Finally, Honeywell International Inc. purchased a new stake in shares of Life Storage during the third quarter worth $593,000.
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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