life storage inc

Life Storage Adds Four Canadian Properties to Its Third-Party Management Portfolio

https://www.bloomberg.com/press-releases/...arty-management-portfolio

, has added four self storage
facilities in the Greater Toronto Area to its third-party management
portfolio. The extended Greater Toronto Area, including the Hamilton and St.
Catharines-Niagara Canadian Metropolitan Areas, total more than seven million
people, making it one of the largest North American markets. The facilities
are owned by Bluebird Self Storage

 

Life Storage, Inc. Reports Fourth Quarter and Full Year 2018 Results

https://www.ariva.de/news/...ourth-quarter-and-full-year-2018-7432803

Highlights for the 4th Quarter Included:

•     Achieved net income attributable to common shareholders of $92.3 million, or $1.98 per fully diluted common share.
  
•     Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.38 as compared to $1.34 in the fourth quarter of 2017.
  
•     Increased same store revenue by 3.0% and same store net operating income ("NOI")(2) by 4.1% as compared to the fourth quarter of 2017.
  
•     Grew management and acquisition fees by 24.3% over the same period in 2017.
  
•     Sold 12 mature properties to an unconsolidated joint venture in which the Company maintains a 20% ownership interest. Life Storage continues to manage the properties.
  
•     Acquired six high-quality properties for a total cost of $58.3 million.

Highlights for the Full Year Included:

•     Achieved net income attributable to common shareholders of $206.6 million, or $4.43 per fully diluted common share.
  
•     Achieved adjusted FFO per fully diluted common share of $5.51 as compared to $5.31 in 2017.
  
•     Grew same store revenue by 3.4% and same store NOI by 4.1% year-over-year.
  
•     Sold 13 properties for net cash proceeds of $91.3 million, resulting in an aggregate gain of approximately $56.4 million.
  
•     Acquired eight high-quality properties for approximately $77.7 million.
  
•     Achieved a record year for its 3rd party management platform; adding a net 69 facilities in 2018.
  
•     Launched Rent Now, a fully-digital rental platform allowing customers who prefer to self-serve and “skip the counter” by completing the rental transaction online.
  
•     Continued investment in Warehouse Anywhere, Life Storage’s intelligent warehousing solution, providing third-party logistics (3PL) to corporate customers.
  

 

Life Storage, Inc. (LSI) CEO Dave Rogers on Q4 2018 Results - Earnings Call Transcript

https://seekingalpha.com/article/...-results-earnings-call-transcript

 

Moody's affirms Life Storage's Baa2 rating; stable outlook

https://www.moodys.com/research/...hbnNsYXRpb25z%7e20190321_PR_396175

The ratings reflect Life Storage's strong financial flexibility and increased scale. The Baa2 rating also benefits from the REIT's solid fixed charge coverage against a backdrop of increasing supply in some of the company's largest markets.

LSI's growth in the last few years has resulted in a more attractive and diversified portfolio in our view. While the REIT still has concentration in secondary markets (Texas and Florida representing its largest exposures), the company has strengthened its portfolio by adding assets in higher growth West coast markets, a credit positive. This has translated to better operating trends with same-store NOI growth up 4.1% for year-end. LSI's same-store NOI is expected to moderate in 2019 as supply continues to weigh on the portfolio but the REIT's strong fixed charge coverage offers ample credit protection at 4.6x as of YE18.

Modest levels of leverage continue to support LSI's conservative balance sheet as measured by effective leverage and net debt to EBITDA at 37.3% and 5.2x, respectively, at YE18. The REIT should meet its capital needs and near-term obligations with relative ease given the availability on its $500 million unsecured revolver ($91 million outstanding as of YE18). The REIT has no debt maturing until 2020 when its $100 million term note comes due. The company's liquidity position is also bolstered by its portfolio that is essentially unencumbered.

 

Life Storage, Inc. Reports First Quarter 2019 Results

https://www.ariva.de/news/...ports-first-quarter-2019-results-7552105

Highlights for the First Quarter Included:

    - Achieved net income attributable to common shareholders of $34.5 million, or $0.74 per fully diluted common share.
    - Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.31 as compared to $1.30 in the first quarter of 2018.
    - Increased same store revenue by 2.4% and same store net operating income ("NOI")(2) by 2.5% as compared to the first quarter of 2018.
    - Grew management and acquisition fees by 28.9% over the same period in 2018.
    - Acquired two high-quality properties for a total cost of $66.5 million.
    - Entered Canadian market and commenced management of six self storage facilities in Ontario, Canada.
    - Transitioned tenant insurance program from a third-party product to a captive solution.
    - Completed the planned CEO Succession from David Rogers to Joseph Saffire.

...

Total revenues increased 2.6% over last year’s first quarter while property operating costs increased 3.0%, resulting in an NOI increase of 2.3%.

Revenues for the 538 stabilized stores wholly-owned by the Company since December 31, 2017 increased 2.4% from the first quarter of 2018, the result of a 3.5% increase in rental rates, partially offset by a 110 basis point decrease in average occupancy. Due to the transition of the Company’s tenant insurance program from a third-party product to a captive solution, insurance revenue has been removed from the same store financial results. The transition occurred on April 1, 2019; however, the first quarter supplemental disclosure and 2019 earnings guidance follow this methodology.

Same store operating expenses increased 2.3% for the first quarter of 2019 compared to the prior year period, the result of increased real estate taxes and repair and maintenance costs. Accordingly, same store NOI this period increased 2.5% over the first quarter of 2018.

General and administrative expenses increased by approximately $0.3 million over the same period in 2018.

During the first quarter of 2019, the Company experienced same store revenue growth in 28 of its 33 major markets. Overall, the markets with the strongest revenue impact include New York-Newark-New Jersey, Las Vegas, Chicago, New England, Buffalo and Sacramento.

 

Life Storage, Inc. (LSI) CEO Joe Saffire on Q1 2019 Results - Earnings Call Transcript

https://seekingalpha.com/article/...-results-earnings-call-transcript

 

Life Storage: Elevated Supply In Several Markets Will Weigh On Its Results

https://seekingalpha.com/article/...everal-markets-will-weigh-results

Summary
- Life Storage owns and operates self-storage properties located primarily in the United States.
- Competition expected to intensify due to elevated supply in many of Life Storage’s markets.
- The REIT pays an attractive 4.1%-yielding dividend and its valuation is low when compared to its peers.

 

Life Storage, Inc. Reports Second Quarter 2019 Results

https://www.bloomberg.com/press-releases/...cond-quarter-2019-results

Highlights for the Second Quarter Included:

  * Achieved net income attributable to common shareholders of $40.7 million,
    or $0.87 per fully diluted common share.
  * Achieved adjusted funds from operations (“FFO”)^(1) per fully diluted
    common share of $1.42 as compared to $1.39 in the second quarter of 2018.
  * Increased same store revenue by 2.0% and same store net operating income
    ("NOI")^(2) by 2.4% as compared to the second quarter of 2018.
  * Grew management and acquisition fees by 28.0% over the same period in
    2018.
  * Acquired four properties for a total cost of $43.2 million.
  * Added 11 stores to its third-party management platform.
  * Completed a $350-million offering of 4% Senior Unsecured Notes due 2029.
  * Subsequent to quarter end, completed the divestiture of 32 mature stores
    for $212.0 million and acquired 12 stores in lease-up for $134.8 million.

 

Life Storage, Inc. (LSI) CEO Joe Saffire on Q2 2019 Results - Earnings Call Transcript

https://seekingalpha.com/article/...-results-earnings-call-transcript
 

Life Storage, Inc. Reports Third Quarter 2019 Results and Provides Preliminary 2020 Guidance

https://www.ariva.de/news/...s-third-quarter-2019-results-and-7939177

Highlights for the Third Quarter Included:

- Generated net income attributable to common shareholders of $140.0 million, or $2.99 per fully diluted common share.
- Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.46.
- Increased same store net operating income ("NOI")(2) by 2.6% and same store revenue by 1.8%.
- Grew management and acquisition fees by 43.1%.
- Acquired 22 properties for a total cost of $281.7 million, including five stores in Baltimore, Md. and three stores in Seattle, Wash., two new strategic markets to the Company.
- Completed the divestiture of 32 mature stores for a total gain of $100.2 million, and began a new strategic relationship with The Inland Real Estate Group of Companies, Inc., under which Life Storage will continue to manage the 32 properties.
- Entered into a new strategic relationship with developer Childress Klein Properties, Inc. with 40% minority interest investment in six stores in Atlanta, Ga.
- Added 50 stores to the Company’s third-party management platform, bringing total managed stores at the end of the third quarter to 277.

 

Life Storage Inc (LSI) Q3 2019 Earnings Call Transcript

https://www.fool.com/earnings/call-transcripts/...s-call-transcr.aspx  

hui Life Storage hat die 100 Euro Marke bei L&S geknackt.  

Life Storage, Inc. Raises Quarterly Common Stock Dividend by 7%

https://www.ariva.de/news/...arterly-common-stock-dividend-by-8073019

The Board of Directors of Life Storage, Inc. (NYSE:LSI), a self storage real estate investment trust (REIT), announced today an increase in the Company’s quarterly common stock dividend from $1.00 per share to $1.07 per share or $4.00 to $4.28 annualized.  

Zahlen sind da

Life Storage, Inc. Reports Fourth Quarter and Full Year 2019 Results

https://www.ariva.de/news/...ourth-quarter-and-full-year-2019-8188847

Highlights for the Fourth Quarter Included:

- Generated net income attributable to common shareholders of $43.5 million, or $0.93 per fully diluted common share.
- Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.44, a 4.3% increase over the same period in 2018.
- Increased same store net operating income ("NOI")(2) by 4.2% and same store revenue by 2.6% year-over-year.
- Grew management and acquisition fees by 38.7%.
- Acquired two properties for $37.5 million in the greater New York City market.
- Acquired a 20% minority interest in five Florida stores that were previously part of the Company’s third-party management portfolio.
- Added 22 stores to the Company’s third-party management platform, bringing total managed stores at the end of the fourth quarter to 297.

Highlights for the Full Year Included:

- Achieved net income attributable to common shareholders of $258.7 million, or $5.55 per fully diluted common share.
- Achieved adjusted FFO per fully diluted common share of $5.62, a 2.0% increase over 2018, including the dilutive impact of the Company’s successfully completed asset recycling program.
- Grew same store NOI by 3.0% and same store revenue by 2.2% year-over-year.
- Acquired 30 high-quality properties for approximately $429.4 million.
- Sold 32 mature stores for a total consideration of $212.0 million.
- Increased third-party management platform by 84 (net) stores in 2019.
- Entered three strategic markets: Seattle, Wash., Baltimore, Md. and Toronto, Ont.
- Entered into joint venture agreements with minority investments in 13 stores in Florida (5), Atlanta, Ga. (6) and Toronto, Ont. (2).
- Completed roll-out of Rent Now, a fully-digital rental platform allowing customers to self-serve and “skip the counter” by completing the rental transaction online.

 “We had an excellent quarter with a strong finish to the year. I couldn't be more pleased with my team's execution on our strategic initiatives.”

 

Life Storage, Inc. (LSI) CEO Joseph Saffire on Q4 2019 Results - Earnings Call Transcript

https://seekingalpha.com/article/...-results-earnings-call-transcript

 

da dieser Tage nicht jeder ne Divi zahlt, Life Storage tuts

Life Storage, Inc. Announces Dividend on Common Stock

https://www.ariva.de/news/...nounces-dividend-on-common-stock-8314411

announced today the Company’s quarterly dividend of $1.07 per share of common stock. The annualized dividend of Life Storage, Inc. is $4.28 per share that, based on today’s opening share price, equates to an annual rate of approximately 4.7%.

 

Life Storage, Inc. Reports First Quarter Results

https://www.ariva.de/news/...nc-reports-first-quarter-results-8408973

Highlights for the First Quarter Included:

    - Generated net income attributable to common shareholders of $36.4 million, or $0.78 per fully diluted common share.
    - Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.40, a 6.9% increase over the same period in 2019.
    - Increased same store net operating income ("NOI")(2) by 4.8% and same store revenue by 2.6% year-over-year.
    - Grew management and acquisition fees by 43.0%.
    - Acquired six stabilized stores in various California markets from a joint venture partner for a total purchase price of $134.0 million.
    - Reported $20.7 million in cash and cash equivalents and $316.9 million in revolving line of credit availability as of March 31, 2020.
    - Added 13 stores to the Company’s third-party management platform, bringing total managed stores at the end of the first quarter to 304.
    - Launched “Rent Now 2.0,” the Company’s dynamic pricing, second generation, fully-digital rental platform that allows customers to self-serve and move into their storage unit with no human interaction; the new pricing alternatives allow customers to select a storage unit from one of three convenience and pricing-based tiers according to their individual needs and preferences.

 

Life Storage Inc. (LSI) CEO Joe Saffire on Q1 2020 Results - Earnings Call Transcript

https://seekingalpha.com/article/...-results-earnings-call-transcript

 

Life Storage, Inc. Reports Second Quarter Results

https://www.bloomberg.com/press-releases/...ts-second-quarter-results

Highlights for the Second Quarter Included:

  * Generated net income attributable to common shareholders of $36.5 million,
    or $0.78 per fully diluted common share.
  * Achieved adjusted funds from operations (“FFO”)^(1) per fully diluted
    common share of $1.42, matching the same period last year.
  * Limited year-over-year same store revenue decrease to 2.0% and same store
    net operating income (“NOI”)^(2) decrease to 2.5%, despite COVID-19
    pandemic and related economic disruption.
  * Decreased same store operating expenses relative to comparable prior year
    periods for the third straight quarter.
  * Grew management fees by 28.1%; added 13 stores to the Company’s
    third-party management platform, bringing total managed stores at the end
    of the second quarter to 317.
  * Reported $9.5 million in cash and cash equivalents and $341.9 million in
    revolving line of credit availability as of June 30, 2020.
  * Completed the roll-out of “Rent Now 2.0,” the Company’s second generation,
    fully-digital, dynamic pricing and rental platform that allows customers
    to self-serve and move into their storage unit with no human interaction;
    the new pricing alternatives allow customers to select a storage unit from
    one of three convenience and pricing-based tiers according to their
    individual needs and preferences.

 

Life Storage, Inc. Reports Third Quarter Results

https://www.bloomberg.com/press-releases/...rts-third-quarter-results  

November 2020 Investor Presentation

https://seekingalpha.com/article/...i-investor-presentation-slideshow  

Life Storage, Inc. Announces a 3.7% Increase to its Common Stock Dividend and a Three-for-Two Stock Split

https://www.ariva.de/news/...ces-a-3-7-increase-to-its-common-9023875

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.
...
On a pre-split basis, the quarterly cash dividend equates to $1.11 per common share or $4.44 annualized.
...

 

Dacht grad wasn jetzt los der kurs so niedrig, aber is zum glück dann doch nur der split.
Hatte den scho völlig vergessn.  

Life Storage, Inc. Reports Fourth Quarter and Full Year 2020 Results

https://www.bloomberg.com/press-releases/...nd-full-year-2020-results

Highlights for the Fourth Quarter Included:

  * Generated net income attributable to common shareholders of $41.6 million,
    or $0.57 per fully diluted common share.
  * Achieved adjusted funds from operations (“FFO”)^(1) per fully diluted
    common share of $1.07, an 11.5% increase over the same period in 2019.
  * Increased same store revenue by 4.9% and same store net operating income
    (“NOI”)^(2) by 6.8%, year-over-year.
  * Acquired nine stores for $113.0 million, including one store from one of
    our unconsolidated joint ventures for $11.5 million.
  * Added 21 stores to the Company’s third-party management platform.

Highlights for the Full Year Included:

  * Generated net income attributable to common shareholders of $151.6
    million, or $2.13 per fully diluted common share.
  * Achieved adjusted funds from operations (“FFO”)^(1) per fully diluted
    common share of $3.97, a 5.9% increase over the same period in 2019.
  * Increased same store revenue by 1.6% and same store net operating income
    (“NOI”)^(2) by 2.3%, year-over-year.
  * Acquired 40 stores for $532.6 million, including 32 stores from three of
    our unconsolidated joint ventures for $431.1 million.
  * Added 77 stores to the Company’s third-party management platform; the
    Company grew its third-party management portfolio 11% in 2020 despite
    acquiring 32 previously managed stores from unconsolidated joint ventures.
  * Completed a $400 million offering of 2.2% Senior Unsecured Notes due 2030.
  * Bolstered Warehouse Anywhere’s ecommerce solution through a partnership
    with Deliverr, a leading technology-enabled fulfillment organization, with
    the build-out of a micro-fulfillment center in Las Vegas and a second
    launched in Chicago in the first quarter of 2021.
  * Launched “Rent Now 2.0,” the Company’s dynamic pricing, second generation,
    fully-digital rental platform that allows customers to self-serve and move
    into their storage unit with no human interaction; the new pricing
    alternatives allow customers to select a storage unit from one of three
    convenience and pricing-based tiers according to their individual needs
    and preferences.

 

Moody's announces completion of a periodic review of ratings of LIFE STORAGE LP

https://www.moodys.com/research/...ngs-of--PR_442080?cid=7QFRKQSZE021

Life Storage's Baa2 rating reflects the REIT's strong fixed charge coverage and demonstrated commitment to an unsecured funding strategy.