Life Storage (NYSE:LSI) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.35-$1.39 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.37. Life Storage also updated its FY 2018 guidance to $5.46-5.52 EPS.
Several research firms have issued reports on LSI. ValuEngine upgraded Life Storage from a hold rating to a buy rating in a research note on Wednesday, October 24th. Citigroup dropped their price objective on Life Storage from $100.00 to $91.00 and set a neutral rating for the company in a research note on Friday, October 5th. SunTrust Banks reiterated a hold rating and set a $95.00 price objective on shares of Life Storage in a research note on Monday, September 24th. Zacks Investment Research upgraded Life Storage from a hold rating to a buy rating and set a $113.00 price objective for the company in a research note on Thursday, August 23rd. Finally, DA Davidson increased their target price on Life Storage to $105.00 in a report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $91.50.
Life Storage stock traded down $0.89 during mid-day trading on Wednesday, hitting $94.16. The stock had a trading volume of 587,916 shares, compared to its average volume of 408,214. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 3.86 and a beta of 0.35. Life Storage has a 12 month low of $76.42 and a 12 month high of $102.91. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.86.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, October 31st. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.05. Life Storage had a return on equity of 6.53% and a net margin of 24.04%. The firm had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $141.10 million. During the same quarter last year, the business earned $0.76 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Life Storage will post 5.46 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Tuesday, October 16th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Monday, October 15th. Life Storage’s dividend payout ratio (DPR) is currently 75.33%.
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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