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Life Storage Guides FY21 EPS Above Estimates - Quick Facts

While reporting financial results for the fourth quarter on Monday, owner and operator of self-storage properties Life Storage, Inc. (LSI) initiated its earnings and adjusted Funds from Operation (AFFO) guidance for the full-year 2021 and for the first quarter.

For fiscal 2021, the company now projects earnings in a range of $2.39 to $2.49 per share and AFFO in a range of $4.18 to $4.28 per share on same store revenue growth of 3.75 to 4.75 percent.

On average, six analysts polled by Thomson Reuters expect the company to report earnings of $2.30 per share on revenue growth of 9.8 percent to $655.65 million for the year. Analysts' estimates typically exclude special items.

For the first quarter of fiscal 2021, the company expects earnings in a range of $0.55 to $0.59 per share and AFFO in a range of $0.98 to $1.02 per share. The Street is looking for earnings of $0.55 per share for the quarter.

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