Life Storage (NYSE:LSI) issued its quarterly earnings data on Sunday. The real estate investment trust reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.47), MarketWatch Earnings reports. Life Storage had a return on equity of 7.09% and a net margin of 25.67%. The company had revenue of $166.51 million during the quarter, compared to the consensus estimate of $161.41 million. During the same quarter last year, the company posted $1.44 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year.
NYSE:LSI traded up $1.65 on Tuesday, reaching $85.61. 489,994 shares of the stock traded hands, compared to its average volume of 677,598. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 5.27 and a beta of 0.32. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.02. Life Storage has a 12 month low of $44.87 and a 12 month high of $87.21. The company’s fifty day simple moving average is $82.26 and its 200 day simple moving average is $76.04.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 27th. Shareholders of record on Friday, January 15th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Thursday, January 14th. This represents a $2.96 dividend on an annualized basis and a yield of 3.46%. Life Storage’s dividend payout ratio is currently 52.67%.
In other Life Storage news, CFO Andrew J. Gregoire sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 11th. The shares were sold at an average price of $114.31, for a total transaction of $571,550.00. Following the completion of the sale, the chief financial officer now directly owns 59,181 shares in the company, valued at approximately $6,764,980.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.
Several research analysts have commented on the stock. Raymond James upped their price objective 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. KeyCorp upped their price objective 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. Truist increased their price target on shares of Life Storage from $66.67 to $82.00 in a research note on Thursday, December 31st. Evercore ISI reiterated an “in-line” rating and issued a $82.00 price target on shares of Life Storage in a research note on Monday, February 1st. Finally, BMO Capital Markets upgraded shares of Life Storage from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $81.33 to $93.33 in a research note on Thursday, January 7th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Life Storage presently has a consensus rating of “Buy” and an average target price of $80.52.
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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