Life Storage

Life Storage, Inc. is a real estate investment trust, which engages in the acquisition, ownership, and management of self-storage properties. It offers commercial, vehicle, and wine storage services. The company was founded by Robert J. Attea, David L. Rogers, Kenneth F. Myszka, and Charles E. Lannon in 1982 and is headquartered in Buffalo, NY.

Earnings data Q1 2024

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Life Storage, Inc. is an integrated, self-administered and self-managed real estate investment trust (REIT). Approximately half of the company's revenue is generated by stores in Texas and Florida. The remaining sales are distributed throughout the United States. The majority of the company's operating revenue is generated by rental income from customers renting storage space on a month-to-month basis. The company also provides storage for both individuals and commercial renters, as well as special storage units for vehicles and wine.

WEBSTER, N.Y. , April 23, 2024 /PRNewswire/ -- U-Haul® has acquired the former Life Storage® property at 1039 Ridge Road in Webster to better meet the moving and self-storage needs of Monroe County customers.

U-Haul Now Operating at Former Life Storage Facility in Webster

Equity LifeStyle Properties

Extra Space Storage

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.

Equity LifeStyle Properties Set to Join S&P MidCap 400

Alexandria Real Estate Equities

JPMorgan BetaBuilders MSCI US REIT ETF

Blackstone Group

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

iShares Cohen & Steers REIT ETF

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

KKR Real Estate Finance Trust

Medical Properties Trust

Neuberger Berman Real Estate Securities Income Fund Inc

Healthpeak Properties

Prologis

US Diversified Real Estate ETF

Invesco Active US Real Estate

Regency Centers

ALPS Active REIT ETF

ProShares Short Real Estate

iShares Mortgage Real Estate ETF

Real estate earnings season kicks into gear this week, and over the next month, we'll hear results from 175 equity REITs, 40 mortgage REITs, and dozens of housing industry companies. Real estate equities - the sector with perhaps the most to gain from a moderation in inflation and normalization in Fed monetary policy - enter earnings season with wind in their sails. Obscured by macro headwinds, REITs delivered a solid first quarter of earnings results fueled by buoyant rent growth. This report discusses the major high-level themes we'll be watching across second quarter results.

REIT Earnings Preview: Here's What We're Watching

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.

Extra Space and Life Storage Stockholders Approve Merger

BUFFALO, N.Y.--(BUSINESS WIRE)---- $LSI #LSI--Life Storage mourns sudden passing of Alexander Gress, CFO. Board appoints David Dodman as CFO in addition to his current role of COO.

Life Storage Mourns the Sudden Passing of Alexander Gress, Chief Financial Officer

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EastGroup Properties

Equinix

Equity Residential

Empire State Realty Trust

Essex Property Trust

Federal Realty Investment Trust

Highwoods Properties

Healthcare Realty Trust Inc

Invitation Homes

Independence Realty Trust

InvenTrust Properties Corp

Kimco Realty

Mid-America Apartment Communities

The Chilton REIT Team attended the REITWeek annual conference in New York City, participating in 39 meetings and gaining insights into potential new ideas and the diverse landscape of REIT properties. Amid rising interest rates and a sluggish debt/transaction market, the importance of robust balance sheets was a central theme. Participants noted sustained demand despite potential economic downturn and escalating construction and financing costs.

Equity REITs: Takeaways From NAREIT REITWeek 2023

BUFFALO, N.Y.--(BUSINESS WIRE)---- $LSI #LSI--Life Storage announces dividend on common stock. The Company operates over 1,200 self-storage facilities in 37 states and District of Columbia.

Life Storage, Inc. Announces Dividend on Common Stock

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.

Extra Space Storage Inc. Announces Dividend on Common Stock

Extra Space Storage is acquiring Life Storage in an all-stock deal valued at approximately $47 billion, which is expected to close in the second half of 2023. The acquisition will create the largest self-storage REIT in the US, with over 3,500 locations serving more than 2 million customers, and is expected to be transformative for the industry. The deal is seen as a win-win for both companies, with potential benefits including improved cost structure, increased occupancy rates, and enhanced pricing power.

Extra Space Storage Buying Life Storage Will Change US Self-Storage Industry

When a company is operating flawlessly, the upside might already be priced in. It tends to be the flawed companies that get bought out. Be careful with double accounting on earnings multiples.

The Low Hanging Fruit Phenomenon As Taught By Life Storage

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Life Storage, Inc. (NYSE: LSI) to Extra Space Storage Inc. (NYSE: EXR). Under the terms of the proposed transaction, shareholders of Life Storage will receive 0.8950 of an Extra Space share for each share of Life Storage that they own. KSF is seeking to determine whether this consideration and the process that.

LIFE STORAGE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Life Storage, Inc. - LSI

Terreno Realty

REITs are best known for paying dividends. However, they also deliver price appreciation.

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The economy is clearly slowing, if not contracting. REIT investors should consider pivoting to property sectors with stronger countercyclical performance. Top options for a slowing or contracting economy include health care and self-storage, though the oversold retail sector may present some opportunities.

Countercyclical Investment Opportunities For REIT Investors

Life Storage, Inc. (NYSE:LSI ) Q1 2023 Results Conference Call May 3, 2023 9:00 AM ET Company Participants Brent Maedl - Manager of Investor Relations Joe Saffire - Chief Executive Officer Alex Gress - Chief Financial Officer Conference Call Participants Spenser Allaway - Green Street Ki Bin Kim - Truist Securities Michael Goldsmith - UBS Samir Khanal - Evercore ISI Todd Thomas - KeyBanc Capital Markets Keegan Carl - Wolfe Research Operator Good morning, everyone, and welcome to the Life Storage First Quarter Earnings Release. [Operator Instructions] Please note, this call is being recorded.

Life Storage, Inc. (LSI) Q1 2023 Earnings Call Transcript

Life Storage (LSI) came out with quarterly funds from operations (FFO) of $1.63 per share, missing the Zacks Consensus Estimate of $1.64 per share. This compares to FFO of $1.44 per share a year ago.

Life Storage (LSI) Q1 FFO Miss Estimates

BUFFALO, N.Y.--(BUSINESS WIRE)---- $LSI #LSI--Life Storage reports operating results for first quarter 2023. The Company operates over 1,200 self-storage facilities in 37 states and DC.

Life Storage, Inc. Reports First Quarter 2023 Results

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.

Extra Space Storage Inc. Reports 2023 First Quarter Results

Life Storage Inc   (NYSE:LSI) stock just made it onto Schaeffer's Senior Quantitative Analyst Rocky White's list of S&P MidCap 400 Index (IDX) stocks that attracted the highest weekly options volume in the last 10 days.

Call Traders Blast Life Storage Stock After Acquisition

Alpine Global Premier Properties Fund

Cambria Global Real Estate ETF

Invesco S&P 500 Equal Weight Real Estate ETF

FlexShares Global Quality Real Estate Index Fund

Home Appreciation US REIT ETF

Xtrackers International Real Estate ETF

Hoya Capital Housing ETF

iShares International Developed Real Estate ETF

CBRE Global Real Estate Income Fund

iShares U.S. Home Construction ETF

VanEck Mortgage REIT Income ETF

Direxion Daily Homebuilders & Supplies Bull 3X Shares

National Storage Affiliates Trust

Nuveen Short-Term REIT ETF

InfraCap REIT Preferred ETF

Storage REITs are the best-performing property sector this year after lagging in late 2022, lifted by surprisingly solid earnings results and a thawing of the previously icy-cold housing market. Storage demand is driven largely by housing activity – specifically, home sales and rental market turnover - and the recent moderation in mortgage rates has eased concern of a deepening housing recession.

Storage Wars

BUFFALO, N.Y.--(BUSINESS WIRE)---- $LSI #LSI--Life Storage announces earnings release and conference call. The Company operates more than 1,150 self-storage facilities in 37 states and DC.

Life Storage, Inc. Announces Date and Time of 1st Quarter Earnings Release and Conference Call

Life Storage, Inc. is a self-storage company that owns and operates over 900 self-storage facilities in the United States. The company is being acquired by Extra Space Storage Inc., which will pay 0.895 EXR shares per share of Life Storage.

Life Storage: Attractive All-Stock Merger Arb Deal

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U.S. equity markets snapped a three-week winning streak while benchmark interest rates dipped to seven-month lows after a critical slate of employment data revealed some cracking in the long-resilient labor markets. Following its strongest weekly advance in five months, the S&P 500 finished fractionally lower this week, while the Mid-Cap 400 and Small-Cap 600 each posted steeper declines of over 2.5%.

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Extra Space Storage will acquire Life Storage in a $12.7 billion all-stock transaction. Life Storage will combine with Extra Space Storage in the second half of 2023.

Extra Space Storage Acquires Life Storage: What This $12.7 Billion Deal Means for Investors

Realty Income has one of the best track records for dividend growth while paying shareholders monthly. Life Storage has the potential for a buyout, but based on current operations, it's still a fantastic dividend stock.

3 Top Dividend Stocks to Buy in April

Extra Space Storage Inc. (NYSE: EXR) and Life Storage, Inc. (NYSE: LSI) announced that the two companies have entered into a definitive merger agreement by which Extra Space will acquire Life Storage for $12.7 billion. The post Extra Space Storage And Life Storage Merging In $12.7 Billion Deal: Details appeared first on Pulse 2.0.

Extra Space Storage And Life Storage Merging In $12.7 Billion Deal: Details

News for Life Storage Stock (LSI)