Life Storage (LSI) Reports Q4 EPS of $0.45, Slight Miss on Revenues; FY18 EPS Mid-Point Above Guidance

Life Storage (NYSE: LSI) reported Q4 EPS of $0.45, $0.32 worse than the analyst estimate of $0.77. Revenue for the quarter came in at $133.08 million versus the consensus estimate of $133.72 million.

Highlights for the 4th Quarter Included:

• Increased same store revenue by 1.3% and same store net operating income (\"NOI\")(1) by 0.4% as compared to the fourth quarter of 2016.
• Grew same store average occupancy for the quarter by 70 basis points to a record high 91.6% compared to the same period in 2016 and quarter-end occupancy by 60 basis points to 91.0% at December 31, 2017.
• Achieved adjusted funds from operations (“FFO”)(2) per fully diluted common share of $1.34.
• Paid a quarterly dividend of $1.00 per share of common stock.
• Completed a public debt offering of $450 million of 10-year notes at an annual interest rate of 3.875%.

GUIDANCE:

Life Storage sees FY2018 EPS of $3.09-$3.19, versus the consensus of $3.10.

For earnings history and earnings-related data on Life Storage (LSI) click here.

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