Life Storage (NYSE:LSI) Issues Earnings Results, Misses Estimates By $0.47 EPS

Share on StockTwits

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

Shares of NYSE LSI traded up $1.69 during trading hours on Tuesday, hitting $85.65. The company’s stock had a trading volume of 10,877 shares, compared to its average volume of 683,112. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 5.27 and a beta of 0.32. Life Storage has a 12 month low of $44.87 and a 12 month high of $86.74. The business has a 50-day simple moving average of $82.26 and a 200-day simple moving average of $76.04.

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

In related news, CFO Andrew J. Gregoire sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 11th. The stock was sold at an average price of $114.31, for a total value of $571,550.00. Following the sale, the chief financial officer now directly owns 59,181 shares of the company’s stock, valued at $6,764,980.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by company insiders.

LSI has been the topic of a number of research analyst reports. Truist increased their target price on Life Storage from $66.67 to $82.00 in a research note on Thursday, December 31st. Raymond James increased their target price on Life Storage from $80.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. BMO Capital Markets raised Life Storage from a “market perform” rating to an “outperform” rating and increased their target price for the company from $81.33 to $93.33 in a research note on Thursday, January 7th. Zacks Investment Research cut Life Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th. Finally, KeyCorp raised their price objective on Life Storage from $81.33 to $85.33 and gave the company an “overweight” rating in a research note on Thursday, January 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Life Storage presently has a consensus rating of “Buy” and a consensus target price of $80.52.

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.

See Also: Learning About the VIX – Volatility Index

Earnings History for Life Storage (NYSE:LSI)

Receive News & Ratings for Life Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Life Storage and related companies with's FREE daily email newsletter.