Streetbeat News

LSI

Life Storage Inc

https://www.lifestorage.com/

CEO

Joseph Saffire

Employees

733

Industry

Other Financial Vehicles

with indoor and drive-up self storage facilities located across the united states, life storage helps simplify storage solutions for both home and business. we're not your average storage facility; we provide storage units that are clean, convenient, climate controlled, secure and affordable. our employees treat every customer (both external and internal) with respect while providing the best customer service in the industry. we're not just self storage, we're life storage.

Open

135.00

Mkt cap

11B

Volume

7.2M

High

138.88

P/E Ratio

30.95

52-wk high

146.66

Low

132.94

Div yield

N/A

52-wk low

94.02

The real estate investment trust (REIT) sector has seen a surge in merger and acquisition (M&A) activity. AG Mortgage Investment Trust (NYSE:MITT) has offered to acquire Western Asset Mortgage Capital Corp. (NYSE:WMC), disrupting a potential merger with Terra Property Trust Inc. Global Net Lease Inc. (NYSE:GNL) plans to acquire Necessity Retail REIT Inc. (NASDAQ:RTL) to diversify its holdings. Office Properties Income Trust (NASDAQ:OPI) acquired Diversified Healthcare Trust (NASDAQ:DHC) in an all-share transaction, despite opposition from shareholders. Extra Space Storage Inc. (NYSE:EXR) and Life Storage Inc. (NYSE:LSI) merger was approved by shareholders, and Ellington Financial Inc. (NYSE:EFC) announced its acquisition of Arlington Asset Investment Corp. (NYSE:AAIC) and Great Ajax Corp. (NYSE:AJX).

Portfolio Pulse from Ethan Roberts

July 27, 2023 | 8:15 pm

Equity Lifestyle Properties Inc (ELS) shares are trading higher after the announcement that the company will join the S&P MidCap 400, replacing Life Storage Inc (LSI) which is being acquired by Extra Space Storage Inc (EXR). The changes will take effect prior to the open on July 24.

Portfolio Pulse from Adam Eckert

July 20, 2023 | 2:00 pm

Life Storage (NYSE:LSI) has been showing strong performance with increasing profits and a steady rise in dividends. The company's dividend per share rose from $2.67 in 2019 to $4.16 in 2022, and its earnings per share increased from $3.71 in 2019 to $6.23 in 2022. The next dividend payout of $0.90 per share is expected on July 19, 2023, for shareholders who held the stock before the ex-dividend date on July 12, 2023.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 3:05 pm

Extra Space and Life Storage stockholders have overwhelmingly approved the merger between the two companies. More than 99.9% of Extra Space votes and 99.7% of Life Storage votes were in favor of the merger. Upon completion, Life Storage stockholders will receive 0.895 of a newly-issued share of Extra Space common stock for each share of Life Storage common stock they own. The transaction is expected to close on July 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:22 pm

Life Storage's CFO, Alexander Gress, passed away unexpectedly on July 9, 2023. The company's board has appointed COO David Dodman as the new CFO, effective immediately. Dodman will continue to serve as COO in addition to his new CFO responsibilities.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 8:33 pm

The first half of 2023 has been challenging for stocks, particularly REITs, due to Federal Reserve rate hikes and hints of a recession. However, some REITs have performed well due to improved earnings, raised analyst positions, and acquisitions. The best performers include Angel Oak Mortgage REIT Inc. (AOMR), Arlington Asset Investment Corp. (AAIC), Life Storage Inc. (LSI), EPR Properties (EPR), Tanger Factory Outlet Centers Inc. (SKT), Welltower Inc. (WELL), and Plymouth Industrial REIT Inc. (PLYM).

Portfolio Pulse from Ethan Roberts

June 30, 2023 | 2:08 pm

Life Storage (NYSE:LSI) received 1 bullish, 3 somewhat bullish, and 1 indifferent rating from analysts in the last quarter. The average 12-month price target is $141.2, with a high of $154.00 and a low of $122.00, increasing by 8.28% over the past month.

Portfolio Pulse from Benzinga Insights

June 16, 2023 | 4:01 pm

Truist Securities analyst Ki Bin Kim maintains a Hold rating on Life Storage (NYSE:LSI) and raises the price target from $120 to $122.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 9:12 am

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