Equities analysts expect that Life Storage Inc (NYSE:LSI) will announce earnings per share of $1.46 for the current quarter, Zacks reports. Five analysts have issued estimates for Life Storage’s earnings. The highest EPS estimate is $1.48 and the lowest is $1.44. Life Storage reported earnings of $1.45 per share in the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The firm is expected to announce its next earnings report on Wednesday, October 30th.

On average, analysts expect that Life Storage will report full year earnings of $5.59 per share for the current year, with EPS estimates ranging from $5.57 to $5.60. For the next year, analysts forecast that the business will report earnings of $5.79 per share, with EPS estimates ranging from $5.74 to $5.92. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Life Storage.

Life Storage (NYSE:LSI) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.54). The company had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $142.96 million. Life Storage had a net margin of 37.17% and a return on equity of 10.21%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 earnings per share.

Several research analysts have weighed in on LSI shares. Robert W. Baird raised Life Storage from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $92.00 to $101.00 in a research report on Wednesday, August 21st. Zacks Investment Research lowered Life Storage from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Raymond James upgraded Life Storage from a “market perform” rating to an “outperform” rating and set a $106.00 price target on the stock in a report on Monday, July 8th. They noted that the move was a valuation call. Stifel Nicolaus assumed coverage on Life Storage in a report on Monday, August 19th. They set a “hold” rating and a $106.00 target price for the company. Finally, Evercore ISI upgraded shares of Life Storage from an “underperform” rating to an “in-line” rating and set a $100.00 price objective for the company in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $102.56.

In other Life Storage news, CFO Andrew J. Gregoire sold 3,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $105.04, for a total transaction of $315,120.00. Following the completion of the transaction, the chief financial officer now owns 52,224 shares of the company’s stock, valued at $5,485,608.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Edward F. Killeen sold 1,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $105.06, for a total transaction of $157,590.00. Following the sale, the chief operating officer now owns 26,998 shares in the company, valued at approximately $2,836,409.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock worth $679,690. 0.80% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in LSI. Hancock Whitney Corp raised its holdings in Life Storage by 78.4% in the 2nd quarter. Hancock Whitney Corp now owns 18,205 shares of the real estate investment trust’s stock worth $1,731,000 after acquiring an additional 7,999 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Life Storage by 2.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 22,836 shares of the real estate investment trust’s stock worth $2,171,000 after buying an additional 470 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Life Storage by 228.0% during the second quarter. Harvest Fund Management Co. Ltd now owns 984 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 684 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Life Storage in the second quarter worth $481,000. Finally, Royal Bank of Canada grew its position in shares of Life Storage by 71.2% during the second quarter. Royal Bank of Canada now owns 9,542 shares of the real estate investment trust’s stock valued at $907,000 after purchasing an additional 3,968 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

LSI stock traded up $0.80 during trading on Friday, reaching $104.20. The stock had a trading volume of 382,450 shares, compared to its average volume of 373,520. Life Storage has a one year low of $88.92 and a one year high of $106.43. The company’s 50 day moving average is $102.34 and its two-hundred day moving average is $98.14. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 4.74 and a beta of 0.35.

Life Storage Company Profile

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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