$145.52 Million in Sales Expected for Life Storage Inc (NYSE:LSI) This Quarter

Wall Street brokerages expect that Life Storage Inc (NYSE:LSI) will post sales of $145.52 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Life Storage’s earnings. The highest sales estimate is $148.09 million and the lowest is $143.89 million. Life Storage reported sales of $138.27 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The firm is scheduled to issue its next earnings results on Monday, February 24th.

On average, analysts expect that Life Storage will report full year sales of $573.20 million for the current financial year, with estimates ranging from $571.08 million to $575.90 million. For the next fiscal year, analysts expect that the business will post sales of $599.36 million, with estimates ranging from $585.28 million to $619.27 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Life Storage.

Life Storage (NYSE:LSI) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.60). The firm had revenue of $145.63 million for the quarter, compared to the consensus estimate of $146.77 million. Life Storage had a return on equity of 14.85% and a net margin of 54.38%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 earnings per share.

A number of research analysts recently issued reports on LSI shares. Jefferies Financial Group upgraded Life Storage from a “hold” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $122.00 in a report on Friday, October 11th. Robert W. Baird raised Life Storage from an “underperform” rating to a “neutral” rating and increased their price target for the company from $92.00 to $101.00 in a research report on Wednesday, August 21st. Raymond James increased their price target on Life Storage from $106.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. KeyCorp increased their price target on Life Storage from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus raised Life Storage from a “hold” rating to a “buy” rating and increased their price target for the company from $106.00 to $114.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $110.00.

Large investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund increased its stake in Life Storage by 0.3% during the 3rd quarter. Texas Permanent School Fund now owns 31,752 shares of the real estate investment trust’s stock worth $3,347,000 after acquiring an additional 103 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Life Storage by 1.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,620 shares of the real estate investment trust’s stock worth $820,000 after acquiring an additional 120 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Life Storage by 0.8% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 22,575 shares of the real estate investment trust’s stock worth $2,147,000 after acquiring an additional 182 shares during the period. Panagora Asset Management Inc. increased its stake in Life Storage by 5.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 3,890 shares of the real estate investment trust’s stock worth $370,000 after acquiring an additional 195 shares during the period. Finally, California State Teachers Retirement System increased its stake in Life Storage by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 73,962 shares of the real estate investment trust’s stock worth $7,796,000 after acquiring an additional 200 shares during the period. 92.28% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:LSI traded down $1.89 during mid-day trading on Monday, reaching $104.21. 529,200 shares of the stock were exchanged, compared to its average volume of 378,851. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.90. The company has a market cap of $5.13 billion, a P/E ratio of 18.91, a P/E/G ratio of 5.08 and a beta of 0.31. Life Storage has a one year low of $89.54 and a one year high of $112.64. The stock’s 50 day simple moving average is $107.95 and its 200-day simple moving average is $103.05.

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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