Life Storage (NYSE:LSI) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.62, Bloomberg Earnings reports. The firm had revenue of $133.08 million for the quarter, compared to analysts’ expectations of $133.46 million. Life Storage had a net margin of 17.79% and a return on equity of 4.65%. Life Storage’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 earnings per share. Life Storage updated its Q1 guidance to $1.24-1.28 EPS and its FY18 guidance to $5.33-5.43 EPS.
Life Storage (NYSE:LSI) traded up $0.12 during midday trading on Wednesday, hitting $78.03. 647,704 shares of the stock were exchanged, compared to its average volume of 443,634. Life Storage has a twelve month low of $69.00 and a twelve month high of $91.75. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $3,668.50, a PE ratio of 38.82, a P/E/G ratio of 3.15 and a beta of 0.52.
The company also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Tuesday, January 16th were given a dividend of $1.00 per share. The ex-dividend date was Friday, January 12th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.13%. Life Storage’s payout ratio is currently 199.01%.
A number of brokerages have weighed in on LSI. Cantor Fitzgerald reaffirmed a “hold” rating and set a $86.00 price target on shares of Life Storage in a research report on Wednesday. SunTrust Banks reaffirmed a “hold” rating and set a $80.00 price target on shares of Life Storage in a research report on Friday, November 24th. KeyCorp reaffirmed a “hold” rating on shares of Life Storage in a research report on Sunday, November 19th. Jefferies Group set a $86.00 price target on shares of Life Storage and gave the company a “hold” rating in a research report on Tuesday, November 28th. Finally, Robert W. Baird cut shares of Life Storage from a “neutral” rating to an “underperform” rating and set a $92.00 price target on the stock. in a research report on Thursday, January 25th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $82.14.
About Life Storage
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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