Life Storage, Inc. (NYSE: LSI) – Jefferies Financial Group cut its first quarter 2021 profit estimates for Life Storage in a research report released on Friday, April 16. Jefferies Financial Group analyst J. Petersen now predicts the REIT will post earnings of $ 0.96 per share for the quarter, down from their previous forecast of $ 0.97. Jefferies Financial Group also released estimates for Life Storage Q4 2021 profit at $ 1.07, FY2021 profit at $ 4.21 EPS, Q1 2022 profit at $ 1.04 EPS, Q3 2022 profit at 1, $ 19 BPA, FY2022 profit at $ 4.58 BPA, and Q1 2023 profit at $ 1.12 BPA. Life Storage (NYSE: LSI) last released its quarterly earnings data on Sunday, February 21. The REIT reported EPS of $ 0.57 for the quarter, missing the consensus estimate of $ 1.04 of ($ 0.47). The company posted revenue of $ 166.51 million for 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 company’s revenue for the quarter increased 12.8% year over year. During the same period last year, the company earned $ 1.44 per share.
A number of other research analysts have also commented on the company recently. KeyCorp raised its target price on Life Storage from $ 86.00 to $ 92.00 and assigned the company an “overweight” rating in a research report on Wednesday, February 24. Truist raised its price target on Life Storage shares from $ 85.00 to $ 88.00 in a research note on Friday, March 5. Zacks investment research in a Thursday, Feb. 18 research report, Life Storage shares went from a “buy” rating to a “maintain” rating. BMO Capital Markets upgraded Life Storage shares from a “market return” to an “outperform” rating and increased its price target for the company from $ 81.33 to $ 93.33 in a year. report published on Thursday, January 7. Finally, Evercore ISI upgraded Life Storage from an “online” rating to an “outperforming” rating and increased its share price target from $ 82.00 to $ 94.00 in a research note on Monday. 8 March. Two investment analysts rated the stock with a sustaining rating and five gave the company’s stock a buy rating. The stock currently has a consensus rating of “Buy” and an average price target of $ 89.50.
NYSE LSI open for $ 91.67 on Mondays. The company has a debt ratio of 1.02, a current ratio of 1.18, and a rapid ratio of 1.18. Life Storage has a one year minimum of $ 55.00 and a one year maximum of $ 92.03. The company has a 50-day simple moving average of $ 86.36 and a two-hundred-day simple moving average of $ 80.30. The stock has a market cap of $ 6.92 billion, a PE ratio of 28.03, a P / E / G ratio of 5.27 and a beta of 0.32.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Reby Advisors LLC purchased a new stake in Life Storage shares during the 4th quarter valued at approximately $ 30,000. NEXT Financial Group Inc purchased a new stake in Life Storage shares during the fourth quarter valued at $ 34,000. International Assets Investment Management LLC purchased a new equity stake in Life Storage during the fourth quarter valued at $ 62,000. Harvest Fund Management Co. Ltd. increased its holdings of Life Storage shares by 92.3% in the fourth quarter. Harvest Fund Management Co. Ltd. now owns 1,042 REIT shares valued at $ 82,000 after purchasing an additional 500 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Life Storage by 181.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 775 real estate investment trust shares worth $ 93,000 after purchasing an additional 500 shares during the period. 89.84% of the shares are currently held by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday April 26. Shareholders of record on Wednesday April 14 will receive a dividend of $ 0.74. This represents an annualized dividend of $ 2.96 and a return of 3.23%. The ex-dividend date of this dividend is Tuesday April 13. Life Storage’s payout ratio is currently 52.67%.
Life Storage Company Profile
Life Storage, Inc. is a self-managed and self-managed real estate investment company engaged in the acquisition and management of self-storage facilities. Headquartered in Buffalo, New York, the company operates more than 900 storage facilities in 30 states and the province of Ontario, Canada. The Company serves residential and commercial storage customers with monthly leased storage units.
This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured article: What is a blocking period?
7 outdoor recreation stocks for growth and dividends
If Americans loved the outdoors before, they love them even more now. The COVID-19 pandemic has done a lot of things, and one of them is to reinvigorate Americans’ love of the outdoors. Data from across the industry shows a steady rise in revenue that drives up the entire resort.
The RV Industry Association, for example, reports that RV shipments increased by more than 30% in 2020 and are expected to increase by 20% or more in 2021. If data from the two largest manufacturers in the industry is any indication, this forecast is very conservative.
And the payoffs aren’t limited to RVs. Everything that has to do with outdoor recreation is booming. Sales of Dicks Sporting Goods, an iconic retail and outdoor brand, have seen a steady 20% increase in revenue since the Q2 closings. If anything, revenues in this industry are being held back by rapidly dwindling inventory and tight shipping conditions.
The actions we are going to show all have something in common; outside. Within the group you will find everything from RVs to radios and anything an outdoor enthusiast might need or want. Some pay dividends and some don’t, but all will deliver strong returns to investors in 2021.
See “7 Outdoor Recreation Stocks for Growth and Dividends”.