Analysts predict that Life Storage Inc (NYSE:LSI) will post $137.71 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Life Storage’s earnings. The highest sales estimate is $140.20 million and the lowest is $134.46 million. Life Storage posted sales of $133.08 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The company is scheduled to issue its next earnings results after the market closes on Monday, February 25th.
On average, analysts expect that Life Storage will report full-year sales of $548.62 million for the current year, with estimates ranging from $539.61 million to $552.80 million. For the next financial year, analysts expect that the company will post sales of $580.09 million, with estimates ranging from $560.05 million to $615.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Life Storage.
Get Life Storage alerts:LSI has been the topic of a number of research reports. ValuEngine upgraded Life Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Evercore ISI downgraded Life Storage from an “in-line” rating to an “underperform” rating in a research note on Tuesday, December 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Life Storage from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $93.33.
In related news, COO Edward F. Killeen sold 4,006 shares of Life Storage stock in a transaction on Friday, December 14th. The stock was sold at an average price of $101.10, for a total transaction of $405,006.60. Following the transaction, the chief operating officer now directly owns 24,763 shares in the company, valued at $2,503,539.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Edward F. Killeen sold 1,306 shares of Life Storage stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $101.99, for a total value of $133,198.94. Following the transaction, the chief operating officer now owns 24,763 shares in the company, valued at $2,525,578.37. The disclosure for this sale can be found here. Insiders have sold 5,962 shares of company stock worth $602,556 over the last quarter. 1.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Life Storage by 5.1% in the third quarter. Vanguard Group Inc. now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after acquiring an additional 354,370 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Life Storage by 5.1% in the third quarter. Vanguard Group Inc now owns 7,276,424 shares of the real estate investment trust’s stock valued at $692,424,000 after acquiring an additional 354,370 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Life Storage by 0.4% in the fourth quarter. Cohen & Steers Inc. now owns 6,676,829 shares of the real estate investment trust’s stock valued at $620,878,000 after acquiring an additional 24,316 shares in the last quarter. BlackRock Inc. lifted its position in shares of Life Storage by 2.4% in the fourth quarter. BlackRock Inc. now owns 5,657,678 shares of the real estate investment trust’s stock valued at $526,106,000 after acquiring an additional 132,304 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Life Storage by 21.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,425,183 shares of the real estate investment trust’s stock valued at $325,940,000 after acquiring an additional 608,989 shares in the last quarter. Institutional investors own 99.70% of the company’s stock.
Shares of LSI stock traded up $0.18 on Friday, reaching $100.00. The stock had a trading volume of 185,043 shares, compared to its average volume of 287,908. The company has a market cap of $4.66 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 4.41 and a beta of 0.51. Life Storage has a 1 year low of $77.33 and a 1 year high of $102.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.28 and a quick ratio of 0.28.
The business also recently announced a quarterly dividend, which was paid on Monday, January 28th. Investors of record on Tuesday, January 15th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, January 14th. This represents a $4.00 annualized dividend and a yield of 4.00%. Life Storage’s dividend payout ratio (DPR) is presently 75.33%.
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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month.
Featured Article: What is a stock buyback?
Get a free copy of the Zacks research report on Life Storage (LSI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment