Life Storage, Inc. 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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to approximately 500,000 customers, making it a leader in the industry.
IPO Year:
Exchange: NYSE
Website: lifestorage.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/8/2023 | $126.00 | Buy → Neutral | Citigroup |
| 1/3/2023 | $123.00 → $97.00 | Buy → Hold | Jefferies |
| 10/17/2022 | $106.00 | Neutral | UBS |
| 8/29/2022 | $139.00 → $138.00 | Outperform → In-line | Evercore ISI |
| 6/21/2022 | $141.00 → $133.00 | Buy → Neutral | BofA Securities |
| 5/19/2022 | $150.00 → $130.00 | Outperform → Market Perform | BMO Capital Markets |
| 2/22/2022 | $142.00 | Neutral | JP Morgan |
| 1/13/2022 | $146.00 → $160.00 | Overweight | Keybanc |
| 12/17/2021 | $186.00 | Outperform | Wolfe Research |
| 12/2/2021 | $123.00 → $140.00 | Hold | Truist Securities |
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Citigroup downgraded Life Storage from Buy to Neutral and set a new price target of $126.00
Jefferies downgraded Life Storage from Buy to Hold and set a new price target of $97.00 from $123.00 previously
UBS initiated coverage of Life Storage with a rating of Neutral and set a new price target of $106.00
Evercore ISI downgraded Life Storage from Outperform to In-line and set a new price target of $138.00 from $139.00 previously
BofA Securities downgraded Life Storage from Buy to Neutral and set a new price target of $133.00 from $141.00 previously
BMO Capital Markets downgraded Life Storage from Outperform to Market Perform and set a new price target of $130.00 from $150.00 previously
JP Morgan initiated coverage of Life Storage with a rating of Neutral and set a new price target of $142.00
Keybanc reiterated coverage of Life Storage with a rating of Overweight and set a new price target of $160.00 from $146.00 previously
Wolfe Research initiated coverage of Life Storage with a rating of Outperform and set a new price target of $186.00
Truist Securities reiterated coverage of Life Storage with a rating of Hold and set a new price target of $140.00 from $123.00 previously
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NEW YORK, July 19, 2023 /PRNewswire/ -- Equity LifeStyle Properties Inc. (NYSE:ELS) will replace Life Storage Inc. (NYSE:LSI) in the S&P MidCap 400 effective prior to the opening of trading on Monday, July 24. S&P 500 constituent Extra Space Storage Inc. (NYSE:EXR) is acquiring Life Storage in a deal expected to be completed on July 20 pending final conditions. Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector July 24, 2023 S&P MidCap 400 Addition Equity LifeStyle Properties ELS Real Estate S&P MidCap 400 Deletion Life Storage LSI Real Estate For more informatio
SALT LAKE CITY and BUFFALO, N.Y., July 18, 2023 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) ("Extra Space" or "EXR") and Life Storage, Inc. (NYSE:LSI) ("Life Storage" or "LSI") today announced that Extra Space stockholders and Life Storage stockholders have voted, separately, to approve the proposed merger at their respective special meetings held virtually today, July 18, 2023. According to the results of the Extra Space Special Meeting of Stockholders, more than 99.9 percent of votes cast at the meeting – approximately 90.3 percent of the outstanding shares of Extra
David Dodman, COO of Life Storage, To Add CFO Responsibilities 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 colleagues and our business. He made considerable contributions to Life S
SALT LAKE CITY, July 3, 2023 /PRNewswire/ -- Extra Space Storage Inc. ("EXR" or the "Company") (NYSE:EXR) announced today that the Company's board of directors has declared a dividend of $1.01 per share on the common stock of the Company, as permitted by the terms of the merger agreement the Company entered into with Life Storage, Inc. ("Life Storage" or "LSI") (NYSE:LSI). The dividend is payable on July 19, 2023 to stockholders of record at the close of business on July 13, 2023. Furthermore, it is anticipated that, following the closing of the merger with LSI, EXR will pay
The Board of Directors of Life Storage, Inc. (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 Storage shareholders and satisfaction of other customary closing conditions. Should the merger not close prior to the next
SALT LAKE CITY, May 2, 2023 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) (the "Company"), a leading owner and operator of self-storage facilities in the United States and a constituent of the S&P 500, announced operating results for the three months ended March 31, 2023. Highlights for the three months ended March 31, 2023: Achieved net income attributable to common stockholders of $1.46 per diluted share, representing a 3.3% decrease compared to the same period in the prior year. Achieved funds from operations attributable to common stockholders and unit holders ("FFO
Life Storage, Inc. (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. With a joint venture partner, acquired one store for a total cost of $22.4 million, of which the Company invested
Life Storage, Inc., (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 this link to pre-register and receive a dial-in number and unique PIN. Participants who are unable to pre-register may access the conference call by dialing 888.506.0062 (domestic), or 973.528.0011 (international
The Board of Directors of Life Storage, Inc. (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: Life Storage, Inc. 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 1,150 storage facilit
Creates the largest storage operator and one of the largest REITs in the RMZ SALT LAKE CITY and BUFFALO, N.Y., April 3, 2023 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) ("Extra Space") and Life Storage, Inc. (NYSE:LSI) ("Life Storage") announced today that the two companies have entered into a definitive merger agreement by which Extra Space will acquire Life Storage in an all-stock transaction. The transaction brings together two industry-leading platforms, and the combined company is expected to have a pro forma equity market capitalization of approximately $36 billion and total enterprise value of approximately $47 billion.
SALT LAKE CITY and BUFFALO, N.Y., July 18, 2023 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) ("Extra Space" or "EXR") and Life Storage, Inc. (NYSE:LSI) ("Life Storage" or "LSI") today announced that Extra Space stockholders and Life Storage stockholders have voted, separately, to approve the proposed merger at their respective special meetings held virtually today, July 18, 2023. According to the results of the Extra Space Special Meeting of Stockholders, more than 99.9 percent of votes cast at the meeting – approximately 90.3 percent of the outstanding shares of Extra
David Dodman, COO of Life Storage, To Add CFO Responsibilities 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 colleagues and our business. He made considerable contributions to Life S
SALT LAKE CITY, July 3, 2023 /PRNewswire/ -- Extra Space Storage Inc. ("EXR" or the "Company") (NYSE:EXR) announced today that the Company's board of directors has declared a dividend of $1.01 per share on the common stock of the Company, as permitted by the terms of the merger agreement the Company entered into with Life Storage, Inc. ("Life Storage" or "LSI") (NYSE:LSI). The dividend is payable on July 19, 2023 to stockholders of record at the close of business on July 13, 2023. Furthermore, it is anticipated that, following the closing of the merger with LSI, EXR will pay
The Board of Directors of Life Storage, Inc. (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 Storage shareholders and satisfaction of other customary closing conditions. Should the merger not close prior to the next
SALT LAKE CITY, May 2, 2023 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) (the "Company"), a leading owner and operator of self-storage facilities in the United States and a constituent of the S&P 500, announced operating results for the three months ended March 31, 2023. Highlights for the three months ended March 31, 2023: Achieved net income attributable to common stockholders of $1.46 per diluted share, representing a 3.3% decrease compared to the same period in the prior year. Achieved funds from operations attributable to common stockholders and unit holders ("FFO
Life Storage, Inc. (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. With a joint venture partner, acquired one store for a total cost of $22.4 million, of which the Company invested
Life Storage, Inc., (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 this link to pre-register and receive a dial-in number and unique PIN. Participants who are unable to pre-register may access the conference call by dialing 888.506.0062 (domestic), or 973.528.0011 (international
The Board of Directors of Life Storage, Inc. (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: Life Storage, Inc. 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 1,150 storage facilit
Creates the largest storage operator and one of the largest REITs in the RMZ SALT LAKE CITY and BUFFALO, N.Y., April 3, 2023 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) ("Extra Space") and Life Storage, Inc. (NYSE:LSI) ("Life Storage") announced today that the two companies have entered into a definitive merger agreement by which Extra Space will acquire Life Storage in an all-stock transaction. The transaction brings together two industry-leading platforms, and the combined company is expected to have a pro forma equity market capitalization of approximately $36 billion and total enterprise value of approximately $47 billion.
Conference Call at 8:00 a.m. Eastern Time Today to Review Presentation, Fourth Quarter and Full Year 2022 Financial Results and Outlook Life Storage, Inc. (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
Andrew Gregoire to Retire as Chief Financial Officer, to be Succeeded by Alexander Gress, Vice President of Finance, Corporate Planning and Investor Relations Life Storage, Inc. (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 ex
Edward Killeen to retire as Chief Operating Officer, to be succeeded by David Dodman, Senior Vice President, Strategic Planning and Investor Relations Life Storage, Inc. (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today that effective December 31, 2021, Edward Killeen, the Company's Chief Operating Officer, will retire from Life Storage. Mr. Killeen has been with Life Storage for 24 years and held various roles with the Company. He is a well-respected member of the Company's executive team. David Dodman, the Company's current Senior Vice President of Strategic Planning and Investor Relations, has been selected to succeed Mr. Killeen as Chief Ope
BUFFALO, N.Y.--(BUSINESS WIRE)--The Board of Directors of Life Storage, Inc. (NYSE:LSI), a self-storage real estate investment trust (REIT), announced that its Board of Directors has approved a 3.7% year-over-year increase in the Company’s quarterly common stock dividend. The Board has also approved a three-for-two stock split of the Company’s common stock, which will be made in the form of a 50% stock dividend. Shareholders of record at the close of business on January 15, 2021 will receive one additional share of Life Storage common stock for every two shares owned. These additional shares will be distributed on January 27, 2021. Cash will be distributed in lieu of fractional s