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

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

LSI traded up $1.65 during midday trading on Tuesday, reaching $85.61. The company had a trading volume of 489,994 shares, compared to its average volume of 677,598. 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 $6.35 billion, a PE 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 $87.21. The business has a 50-day moving average price of $82.26 and a two-hundred day moving average price of $76.04.

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

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

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

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 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.

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