Life Storage, Inc. (NYSE:LSI) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.33 - $1.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.44. Life Storage also updated its FY17 guidance to $5.25 - $5.30 EPS.
Several research firms recently weighed in on LSI. Zacks Investment Research cut shares of Life Storage from a hold rating to a sell rating in a research note on Monday, April 24th. TheStreet cut shares of Life Storage from a b- rating to a c+ rating in a research note on Monday, June 19th. ValuEngine cut shares of Life Storage from a buy rating to a hold rating in a research note on Friday, June 2nd. Cantor Fitzgerald cut shares of Life Storage from an overweight rating to a neutral rating and set a $78.00 target price for the company. in a research note on Monday, May 15th. Finally, Citigroup Inc. reaffirmed a buy rating and set a $92.00 target price (down from $100.00) on shares of Life Storage in a research note on Sunday, May 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $89.62.
Shares of Life Storage, Inc. (LSI) traded down 0.15% during trading on Thursday, hitting $72.30. 1,441,461 shares of the company’s stock were exchanged. Life Storage, Inc. has a 12-month low of $69.00 and a 12-month high of $100.77. The company has a market cap of $3.36 billion, a P/E ratio of 43.29 and a beta of 0.56. The company has a 50-day moving average of $73.95 and a 200-day moving average of $79.50.
Life Storage (NYSE:LSI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.02. The business had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. Life Storage had a net margin of 15.72% and a return on equity of 3.68%. Life Storage’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. On average, equities analysts expect that Life Storage, Inc. will post $2.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Monday, July 17th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend was Thursday, July 13th. Life Storage’s dividend payout ratio (DPR) is 227.27%.
In other Life Storage news, insider Paul T. Powell bought 700 shares of Life Storage stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of $73.04 per share, for a total transaction of $51,128.00. Following the completion of the transaction, the insider now directly owns 44,296 shares of the company’s stock, valued at $3,235,379.84. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.
Life Storage Company Profile
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership.
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