reports
Moody's withdraws LIFE STORAGE's Baa2 ratings due to insufficient info...
Moody's Investors Service ("Moody's") has withdrawn the Baa2 issuer rating, Baa2 senior unsecured rating and (P)Baa2 senior unsecured shelf rating of LIFE STORAGE LP, the main operating subsidiary of Life Storage, Inc. The stable outlook has also been withdrawn. Withdrawals: ..Issuer: LIFE STOR...
Life Storage Mourns the Sudden Passing of Alexander Gress, Chief Finan...
BUFFALO, N.Y.--(BUSINESS WIRE)-- Life Storage, Inc. (NYSE: LSI) (“the Company”), a self-storage real estate investment trust (REIT), today announced with great sadness that Alexander Gress, the Company’s Chief Financial Officer, passed away unexpectedly on July 9, 2023. Mr. Gress was 50 and is survived by his wife Jennifer and their three children. “We are shocked by the tragic passing of Alex Gress,” said Joseph Saffire, the Company’s Chief Executive Officer. “Alex was a tremendous leader and brilliant financial mind who demonstrated incredible integrity, passion and commitment to his colle...
Life Storage, Inc. Announces Dividend on Common Stock
BUFFALO, N.Y.--(BUSINESS WIRE)-- The Board of Directors of (NYSE: LSI) (“the Company”), a self-storage real estate investment trust (REIT), today announced a dividend of $0.90 per share of common stock, as permitted by the terms of the merger agreement the Company entered into with Extra Space Storage Inc. (NYSE: EXR). The dividend will be paid on July 19, 2023 to Life Storage shareholders of record as of July 13, 2023. Life Storage continues to expect to complete the transaction with Extra Space Storage by the end of July 2023, subject to the approval of Extra Space Storage and Life Storag...
Life Storage Inc: 2 directors
Two Directors at Life Storage Inc sold after exercising options/sold 7,661 shares at between 127.762USD and 131.033USD. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all t...
Life Storage, Inc. Reports First Quarter 2023 Results
BUFFALO, N.Y.--(BUSINESS WIRE)-- . (NYSE:LSI), a leading national owner and operator of self-storage properties, reported operating results for the quarter ended March 31, 2023. Highlights for the First Quarter Included: Generated net income attributable to common shareholders of $81.6 million, or $0.96 per fully diluted common share. Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.63, a 13.2% increase over the same period in 2022. Increased same store revenue by 10.5% and same store net operating income (“NOI”)(2) by 12.8%, year-over-year. ...
Life Storage, Inc. Announces Date and Time of 1st Quarter Earnings Rel...
BUFFALO, N.Y.--(BUSINESS WIRE)-- ., (NYSE:LSI), a leading national owner and operator of self-storage properties, will issue financial results for the quarter ended March 31, 2023 after the market closes on Tuesday, May 2, 2023. The Company will conduct a conference call to discuss operations and review financial results on Wednesday, May 3, 2023 at 9:00 a.m. Eastern Time. The Company encourages pre-registration for the telephone conference to help avoid connection delays. Participants may use to pre-register and receive a dial-in number and unique PIN. Participants who are unable to pre-...
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Defensive Areas Starting to Lead Since late-January/early-February we have recommended shifting to defensives due to our belief that 4165-4200 will cap upside on the S&P 500 in 2023, while also conceding that a reach to 4300-4325 is possible. Considering limited upside in both scenarios, we continue to recommend shifting to defensives. Defensive Sectors including Health Care (XLV), Utilities (RYU, XLU), and Consumer Staples (XLP) are hitting 2+ month RS highs, and are staging bullish price and ...
Life Storage, Inc. Announces Dividend on Common Stock
BUFFALO, N.Y.--(BUSINESS WIRE)-- The Board of Directors of (NYSE:LSI), a self-storage real estate investment trust (REIT), announced today the Company’s quarterly dividend of $1.20 per share of common stock. The annualized dividend of Life Storage, Inc. is $4.80 per share that, based on today’s opening share price, equates to an annual yield of approximately 3.6%. The dividend will be paid on April 26, 2023 to Shareholders of record on April 14, 2023. ABOUT LIFE STORAGE, INC: is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storag...
Moody's affirms LIFE STORAGE's Baa2 ratings, stable outlook
Moody's Investors Service ("Moody's") has affirmed the Baa2 senior unsecured rating and Baa2 issuer rating of LIFE STORAGE LP, the main operating subsidiary of Life Storage, Inc. The rating outlook is stable. The affirmation reflects LIFE STORAGE's execution of significant external growth over t...
Life Storage Publishes Investor Presentation Regarding Unsolicited Pro...
BUFFALO, N.Y.--(BUSINESS WIRE)-- (NYSE:LSI), a leading national owner and operator of self-storage properties, today published an investor presentation regarding the unsolicited proposal submitted by Public Storage on February 5, 2023. The presentation is available in the investor relations section of the Company’s website and has also been filed with the U.S. Securities and Exchange Commission (the “SEC”). Highlights of the presentation include: Public Storage’s proposal significantly undervalues Life Storage and the Company’s prospects for growth and value creation. Life Storage’s succes...
Life Storage, Inc. Reports Fourth Quarter and Full Year 2022 Results
BUFFALO, N.Y.--(BUSINESS WIRE)-- . (NYSE:LSI), a leading national owner and operator of self-storage properties, reported operating results for the quarter and year ended December 31, 2022. Highlights for the Fourth Quarter Included: Generated net income attributable to common shareholders of $93.8 million, or $1.10 per fully diluted common share. Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.69, a 19.9% increase over the same period in 2021. Increased same store revenue by 11.8% and same store net operating income (“NOI”)(2) by 13.3%, year-over...
Life Storage Board of Directors Unanimously Rejects Unsolicited Propos...
BUFFALO, N.Y.--(BUSINESS WIRE)-- (NYSE:LSI), a leading national owner and operator of self-storage properties, today announced that the Company’s Board of Directors unanimously concluded that the acquisition proposal submitted by Public Storage on February 5, 2023, significantly undervalues Life Storage and its prospects for future growth and value creation. This determination follows a comprehensive review process conducted by the Life Storage Board in consultation with its independent financial and legal advisors. As previously announced, Public Storage proposed to acquire in a taxable tra...
Life Storage Recognized by Forbes Magazine as one of America’s Best Em...
BUFFALO, N.Y.--(BUSINESS WIRE)-- . (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today the receipt of a national award recognizing the company’s culture. For 2023, for the second consecutive year, Life Storage has been named one of America’s Best Midsize Employers by Forbes magazine. “This award is extremely meaningful to us because it is based entirely on feedback from our team,” said Life Storage Chief Executive Officer Joe Saffire. “We continually work to provide our employees with a great experience and are proud to receive this honor for the seco...
Life Storage, Inc. Reviewing Unsolicited Proposal from Public Storage
BUFFALO, N.Y.--(BUSINESS WIRE)-- ., (NYSE:LSI), a leading national owner and operator of self-storage properties, today confirmed that it received an unsolicited taxable all-stock proposal from Public Storage to acquire all of the outstanding shares of Life Storage for 0.4192 shares of Public Storage common stock for each outstanding Life Storage share. The Company noted that the proposal received today appears to be substantially similar in all material respects to a privately submitted proposal previously reviewed by the Life Storage Board of Directors. Notwithstanding, the Board, in consul...
Life Storage, Inc. Announces Date and Time of 4th Quarter and Full Yea...
BUFFALO, N.Y.--(BUSINESS WIRE)-- ., (NYSE:LSI), a leading national owner and operator of self-storage properties, will issue financial results for the quarter ended December 31, 2022 after the market closes on Thursday February 23, 2023. The Company will conduct a conference call to discuss operations and review financial results on Friday, February 24, 2023 at 9:00 a.m. Eastern Time. The Company encourages pre-registration for the telephone conference to help avoid connection delays. Participants may use to pre-register and receive a dial-in number and unique PIN. Participants who are unab...
Life Storage, Inc. Announces Tax Reporting Information for 2022 Distri...
BUFFALO, N.Y.--(BUSINESS WIRE)-- . (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today the tax allocations of the Company’s 2022 dividend distributions on its common stock (CUSIP #53223X107). The allocations will be reported on Form 1099-DIV as follows: Record Date Payable Date Total Distribution per Share Ordinary Dividend (Box 1a) Total Capital Gain (Box 2a) Unrecaptured Section 1250 Gain(1) (Box 2b) Section 897 Capital Gain(2) (Box 2f) Section 199A Dividend(3) (Box 5) 1/14/2022 1/26/2022 $1.00 $1.000000 $0...
Life Storage, Inc. Raises Quarterly Common Stock Dividend by 11%
BUFFALO, N.Y.--(BUSINESS WIRE)-- The Board of Directors of (NYSE:LSI), a self-storage real estate investment trust (REIT), announced today an increase in the Company’s quarterly common stock dividend from $1.08 per share to $1.20 per share or $4.32 to $4.80 annualized. This increase represents an 11% increase over the prior quarter and 20% over the dividend declared in the first quarter of 2022. The increase is effective with the quarterly dividend to be paid on January 26, 2023 to shareholders of record on January 13, 2023. The dividend, based on December 30, 2022 closing share price, equate...
Life Storage, Inc. Reports Third Quarter 2022 Results
BUFFALO, N.Y.--(BUSINESS WIRE)-- (NYSE:LSI), a leading national owner and operator of self-storage properties, reported operating results for the quarter ended September 30, 2022. Highlights for the Third Quarter Included: Generated net income attributable to common shareholders of $98.5 million, or $1.16 per fully diluted common share. Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.73, a 26.3% increase over the same period in 2021, and an increase from $1.65 per fully diluted common share of adjusted FFO in the second quarter of 2022. Increased...
Life Storage, Inc. Announces Executive Leadership Succession
BUFFALO, N.Y.--(BUSINESS WIRE)-- (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today that it will promote the Company’s Vice President of Finance, Corporate Planning and Investor Relations to Chief Financial Officer upon the retirement of current CFO, Andrew Gregoire, on January 2, 2023. Post-retirement, Mr. Gregoire will continue to assist in order to provide for a smooth transition, through June 30, 2023. “On behalf of myself, the management team, the board and the entire Life Storage team, I want to express my deepest appreciation and gratitude to...
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