Wall Street brokerages expect Life Storage Inc (NYSE:LSI) to report $140.29 million in sales for the current fiscal quarter, according to Zacks. 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 reported sales of $135.57 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The business is scheduled to report its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Life Storage will report full-year sales of $547.97 million for the current year, with estimates ranging from $539.61 million to $553.48 million. For the next year, analysts forecast that the firm will post sales of $573.86 million per share, with estimates ranging from $559.58 million to $613.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Life Storage.
Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.50). The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $135.97 million. Life Storage had a return on equity of 6.53% and a net margin of 24.04%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 earnings per share.
Several research firms have commented on LSI. BMO Capital Markets reissued a “hold” rating and set a $87.00 target price on shares of Life Storage in a research report on Wednesday, August 1st. ValuEngine downgraded shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Bank of America increased their target price on shares of Life Storage from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Jefferies Financial Group set a $95.00 target price on shares of Life Storage and gave the stock a “hold” rating in a research report on Tuesday, July 17th. Finally, Zacks Investment Research raised shares of Life Storage from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Thursday, July 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Life Storage has an average rating of “Hold” and a consensus target price of $91.58.
Hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Life Storage during the second quarter valued at about $104,000. Steward Partners Investment Advisory LLC boosted its holdings in Life Storage by 333.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 1,000 shares during the period. Qube Research & Technologies Ltd bought a new stake in Life Storage during the second quarter valued at about $145,000. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Life Storage in the second quarter valued at about $206,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of Life Storage in the second quarter valued at about $208,000. Institutional investors own 94.26% of the company’s stock.
Life Storage stock opened at $96.54 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 4.03 and a beta of 0.40. Life Storage has a one year low of $76.42 and a one year 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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