Life Storage (NYSE:LSI) Announces Quarterly Earnings Results

Life Storage (NYSE:LSI) announced its earnings results on Sunday. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.47), MarketWatch Earnings reports. Life Storage had a return on equity of 7.09% and a net margin of 25.67%. The business had revenue of $166.51 million for the quarter, compared to analyst estimates of $161.41 million. During the same quarter in the previous year, the company earned $1.44 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis.

Life Storage stock traded up $1.65 during mid-day trading on Tuesday, reaching $85.61. The company had a trading volume of 490,178 shares, compared to its average volume of 677,598. Life Storage has a fifty-two week low of $44.87 and a fifty-two week high of $87.21. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.02. The company has a market cap of $6.35 billion, a P/E ratio of 25.68, a P/E/G ratio of 5.27 and a beta of 0.32. The business has a fifty day simple moving average of $82.26 and a 200 day simple moving average of $76.04.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 27th. Investors of record on Friday, January 15th were given a dividend of $0.74 per share. The ex-dividend date was Thursday, January 14th. This represents a $2.96 annualized dividend and a dividend yield of 3.46%. Life Storage’s dividend payout ratio is 52.67%.

A number of brokerages have issued reports on LSI. KeyCorp increased their target price on shares of Life Storage from $81.33 to $85.33 and gave the stock an “overweight” rating in a research report on Thursday, January 21st. BMO Capital Markets upgraded shares of Life Storage from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $81.33 to $93.33 in a research report on Thursday, January 7th. Raymond James increased their target price on shares of Life Storage from $80.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 18th. Finally, Evercore ISI restated an “in-line” rating and set a $82.00 target price on shares of Life Storage in a research report on Monday, February 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.52.

In other Life Storage news, CFO Andrew J. Gregoire sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 11th. The shares were sold at an average price of $114.31, for a total value of $571,550.00. Following the sale, the chief financial officer now owns 59,181 shares in the company, valued at $6,764,980.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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Earnings History for Life Storage (NYSE:LSI)

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