Wall Street brokerages predict that Life Storage Inc (NYSE:LSI) will announce sales of $141.89 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Life Storage’s earnings, with estimates ranging from $139.90 million to $143.02 million. Life Storage reported sales of $138.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The business is expected to report its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Life Storage will report full year sales of $566.69 million for the current fiscal year, with estimates ranging from $560.20 million to $572.00 million. For the next fiscal year, analysts expect that the company will post sales of $590.70 million, with estimates ranging from $577.10 million to $615.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Life Storage.

Life Storage (NYSE:LSI) last announced its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.58). Life Storage had a return on equity of 10.17% and a net margin of 37.37%. The business had revenue of $136.52 million for the quarter, compared to analyst estimates of $136.41 million. During the same quarter in the previous year, the company posted $1.27 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year.

LSI has been the subject of several recent research reports. Zacks Investment Research cut shares of Life Storage from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Bank of America cut shares of Life Storage from a “neutral” rating to an “underperform” rating and cut their price target for the company from $105.00 to $99.00 in a research note on Friday, March 8th. ValuEngine cut shares of Life Storage from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Evercore ISI upgraded shares of Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price target for the company in a research note on Monday. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $98.13.

LSI traded down $0.17 during trading hours on Friday, hitting $95.37. 428,055 shares of the company’s stock were exchanged, compared to its average volume of 392,521. Life Storage has a 1-year low of $88.92 and a 1-year high of $102.91. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 4.33 and a beta of 0.44. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.88.

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Monday, April 15th. Life Storage’s dividend payout ratio is currently 72.60%.

In other news, Director Arthur L. Havener, Jr. sold 598 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $95.77, for a total value of $57,270.46. Following the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at $644,340.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David L. Rogers sold 10,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $96.12, for a total transaction of $961,200.00. Following the completion of the transaction, the director now directly owns 120,000 shares in the company, valued at $11,534,400. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LSI. Security Capital Research & Management Inc. raised its position in shares of Life Storage by 283.2% in the first quarter. Security Capital Research & Management Inc. now owns 1,878,025 shares of the real estate investment trust’s stock valued at $182,675,000 after purchasing an additional 1,387,900 shares during the period. Norges Bank bought a new position in shares of Life Storage in the fourth quarter valued at about $44,902,000. Vanguard Group Inc raised its position in shares of Life Storage by 5.1% in the third quarter. Vanguard Group Inc now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after purchasing an additional 354,370 shares during the period. Northern Trust Corp raised its position in shares of Life Storage by 47.1% in the first quarter. Northern Trust Corp now owns 924,685 shares of the real estate investment trust’s stock valued at $89,944,000 after purchasing an additional 296,148 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Life Storage by 14.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,672,431 shares of the real estate investment trust’s stock valued at $155,519,000 after purchasing an additional 216,317 shares during the period. 96.25% of the stock is currently owned by institutional investors.

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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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Earnings History and Estimates for Life Storage (NYSE:LSI)

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