LSI - LSI STOCK NEWS

Life Storage, Inc. (NYSE:LSI) announced the successful closing of a public offering of 2,875,000 shares at $122.30 each, raising approximately $351.6 million in gross proceeds. The offering included 375,000 shares resulting from the underwriters' exercised option. Proceeds will be used to repay revolving credit, fund acquisitions, and for general corporate purposes. Citigroup and Wells Fargo Securities served as joint book-running managers for the offering.

Life Storage, Inc. (NYSE:LSI) announced the pricing of a public offering of 2,500,000 shares of common stock, aiming for gross proceeds of approximately $306 million. Joint book-running managers include Citigroup and Wells Fargo Securities. The offering will close around September 16, 2021, subject to customary conditions. Proceeds will be utilized to repay revolving credit and for acquisitions or general corporate purposes. A 30-day over-allotment option for an additional 375,000 shares is also granted to underwriters.

Life Storage, Inc. (NYSE:LSI) announced a public offering of 2,500,000 shares of its common stock, managed by Citigroup and Wells Fargo Securities. The firm may grant underwriters an option for an additional 375,000 shares. Proceeds will be allocated to repay revolving credit, fund acquisitions, and other corporate purposes. This offering is pursuant to an effective shelf registration statement with the SEC, intended for investors.

Life Storage, Inc. (NYSE: LSI) announced that Edward Killeen will retire as Chief Operating Officer on December 31, 2021, after 24 years with the company. David Dodman, currently Senior Vice President of Strategic Planning and Investor Relations, has been appointed as his successor. Dodman, who joined Life Storage in 2018, has extensive experience in corporate strategy and revenue management, aiming to further enhance the company's innovative self-storage solutions. CEO Joe Saffire highlighted Killeen's significant role in the company's growth to over 1,000 locations nationwide.

Life Storage (NYSE:LSI) reported strong second-quarter results for 2021, achieving a net income of $57.5 million or $0.74 per diluted share, a significant increase from $36.5 million in Q2 2020. The company recorded a 27.7% rise in adjusted funds from operations (FFO) to $1.20 per share. Same store revenue rose 14.7% and net operating income (NOI) increased 20.2%. Life Storage acquired 17 stores for $267.5 million and continued to expand its third-party management platform. Additionally, the Board approved a quarterly dividend of $0.74 per share.

Life Storage, Inc. (NYSE: LSI) will release its financial results for Q2 2021 on August 3, 2021, after market close. A conference call to discuss these results will take place on August 4, 2021, at 9:00 AM ET. The company, based in Buffalo, New York, operates over 950 self-storage facilities in 33 states, serving approximately 500,000 customers. To prevent connection delays, pre-registration for the call is encouraged, and an archived webcast will be available for 90 days.

Life Storage, Inc. (NYSE:LSI) has declared a quarterly dividend of $0.74 per share, with an annualized dividend of $2.96. This represents an annual yield of approximately 2.8% based on the previous closing share price. The dividend will be paid on July 26, 2021 to shareholders recorded as of July 14, 2021. Life Storage, Inc. operates over 950 storage facilities across 33 states, serving more than 500,000 customers and solidifying its position as a leader in the self-storage industry.

Life Storage (NYSE:LSI) reported robust Q1 2021 results, with net income of $47.4 million ($0.63/share), up from $36.4 million ($0.52/share) in Q1 2020. Adjusted funds from operations (FFO) increased by 16.1% to $1.08/share. The company achieved a 7.3% rise in same-store revenue and an 8.6% increase in net operating income (NOI). During the quarter, 16 new stores were acquired for $266.2 million, and the company expanded its third-party management platform by adding 18 stores. The strong performance reflects record occupancy and pricing power.

Life Storage, Inc (NYSE: LSI) will announce its financial results for Q1 2021 on May 4, 2021, post-market closure. A conference call to discuss these results is set for May 5, 2021, at 9:00 AM ET. Pre-registration for the call is advised to avoid delays. Life Storage operates over 925 self-storage facilities across 32 states and Ontario, Canada, serving around 500,000 customers. This management call will include prepared remarks and a Q&A session for registered analysts.