Life Storage Inc (NYSE:LSI) – Equities research analysts at KeyCorp reduced their FY2019 EPS estimates for shares of Life Storage in a research note issued to investors on Monday, May 13th. KeyCorp analyst T. Thomas now expects that the real estate investment trust will post earnings of $5.60 per share for the year, down from their previous estimate of $5.61. KeyCorp also issued estimates for Life Storage’s FY2020 earnings at $5.76 EPS.

Life Storage (NYSE:LSI) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the Zacks’ 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 the consensus estimate of $136.41 million. During the same period in the previous year, the firm earned $1.27 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year.

Other equities research analysts have also issued reports about the stock. Bank of America set a $105.00 target price on shares of Life Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Zacks Investment Research lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Finally, ValuEngine lowered shares of Life Storage from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $97.86.

LSI opened at $95.82 on Wednesday. Life Storage has a fifty-two week low of $88.92 and a fifty-two week high of $102.91. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 4.34 and a beta of 0.44.

Several large investors have recently bought and sold shares of the company. Utah Retirement Systems boosted its stake in shares of Life Storage by 0.9% in the 4th quarter. Utah Retirement Systems now owns 10,671 shares of the real estate investment trust’s stock valued at $992,000 after purchasing an additional 100 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Life Storage by 1.2% in the 4th quarter. Amalgamated Bank now owns 9,114 shares of the real estate investment trust’s stock valued at $848,000 after purchasing an additional 107 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Life Storage by 6.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,948 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 120 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Life Storage by 14.2% in the 1st quarter. Assetmark Inc. now owns 1,005 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 125 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in shares of Life Storage by 4.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 3,223 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 130 shares during the last quarter. 96.25% of the stock is currently owned by institutional investors.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Monday, April 15th. Life Storage’s payout ratio is 72.60%.

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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