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Life Storage, Inc. Provides Update on Hurricane Ian
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Life Storage, Inc. (NYSE:LSI) has confirmed that all 161 of its self-storage properties in Florida are operational following Hurricane Ian. This includes 72 locations from Tampa to Naples, which were impacted by the hurricane. The company is assessing any preliminary damage and will provide updates during its next earnings call. CEO Joseph Saffire emphasized the company's commitment to the safety of its employees and customers in the affected areas.
Positive
All 161 properties in Florida are operational post-Hurricane Ian.
Employee safety has been confirmed after the hurricane.
Negative
Preliminary damage assessments are ongoing, indicating potential unknown impacts.
The Company Reports that all Florida Properties are Operational
BUFFALO, N.Y.--(BUSINESS WIRE)--
Life Storage, Inc. (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today that all 161 of its wholly owned and managed properties in Florida, including 72 properties stretching from the Tampa vicinity down to the more highly impacted area of Naples, are operational. The Company continues to assess preliminary damage related to Hurricane Ian and will provide additional information and updates in conjunction with the Company’s next scheduled earnings release and conference call for the third quarter.
“The health, safety and well-being of all our customers, teammates, and all those in the impacted areas remain our top priority. We’re happy to confirm that all our employees are safe and accounted for,” said Joseph Saffire, Chief Executive Officer. “We have been in regular communication with our team throughout to provide updates and resource support as needed, and happy that Life Storage continues to provide our services to customers in the impacted areas.”
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 1,100 storage facilities in 37 states. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to approximately 675,000 customers, making it a leader in the industry. For more information visit http://invest.lifestorage.com.
