LONDON, UK / ACCESSWIRE / July 12, 2018 / Active-Investors has a free review on Life Storage, Inc. (NYSE: LSI) following the Company's announcement that it will begin trading ex-dividend on July 13, 2018. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on July 12, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on LSI:
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On July 05, 2018, Life Storage's Board of Directors announced the Company's quarterly dividend of $1.00 per share of common stock. The dividend will be paid on July 26, 2018, to shareholders of record on July 16, 2018.
Life Storage's indicated dividend represents a yield of 4.06%, which is substantially higher than the average dividend yield of 3.05% for the financial sector.
Life Storage has a dividend payout ratio of 74.5%, which indicates that the Company distributes approximately $0.75 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Life Storage is forecasted to report earnings of $3.31 for the upcoming year compared to the Company's annualized dividend of $4.00. One of the primary reasons for the difference between earnings and annualized dividend is that Life Storage is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization (D&A) to earnings and subtracting any gains on sales which then provides a better picture of any company's profitability and capacity to pay and to sustain dividends. For instance, Life Storage achieved net income attributable to common shareholders in the first quarter of 2018 of $33.9 million, or $0.73 per fully diluted common share, compared to net income attributable to common shareholders of $20.4 million in Q1 2017, or $0.44 per fully diluted common share.
On the other hand, the Company's FFO for the reported quarter were $1.27 per fully diluted common share compared to $1.26 for the year ago same period. Excluding $1.1 million of costs related to changes to the Company's Board of Directors and other proxy matters in Q1 2018, Life Storage's adjusted FFO per fully diluted common share was $1.30 and $1.26 for the quarters ended March 31, 2018 and 2017, respectively. The FFO number indicates that the Company should be able to comfortably cover its dividend payout.
About Life Storage, Inc.
Life Storage 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 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to its 390,000-plus customers, making it a leader in the industry.
Stock Performance Snapshot
July 11, 2018 - At Wednesday's closing bell, Life Storage's stock marginally dropped 0.49%, ending the trading session at $98.01.
Volume traded for the day: 326.75 thousand shares.
Stock performance in the last month - up 4.32%; previous three-month period - up 13.56%; past twelve-month period - up 38.06%; and year-to-date - up 10.04%
After yesterday's close, Life Storage's market cap was at $4.55 billion.
Price to Earnings (P/E) ratio was at 41.51.
The stock has a dividend yield of 4.08%.
The stock is part of the Technology sector, categorized under the Semiconductor - Specialized industry.
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