LSI - LSI STOCK NEWS

Life Storage, Inc (NYSE: LSI) announced the launch of its third micro-fulfillment center in Chicago through its subsidiary, Warehouse Anywhere. This center enhances e-commerce delivery capabilities by enabling faster shipping for online orders, thanks to a partnership with Deliverr. The 7,000 square-foot facility was established without disrupting existing storage operations. Plans are underway to open six additional centers in key locations, including Orlando and Dallas, over the next year.

Life Storage, Inc. (NYSE:LSI) reported significant financial results for Q4 and full-year 2020. The company generated net income of $41.6 million ($0.57/share) for Q4 and $151.6 million ($2.13/share) for the full year, despite a decline from the previous year's gains. Adjusted funds from operations per share rose 11.5% in Q4 to $1.07 and 5.9% for the year to $3.97. The company acquired 40 stores for $532.6 million in 2020, while also growing its third-party management by 11%. A three-for-two stock split was executed, and a quarterly dividend of $0.74 per share was approved.

Life Storage, Inc (NYSE: LSI) announced the election of Susan Harnett to its Board of Directors, effective February 12, 2021. Harnett brings extensive experience in executive roles across retail, financial services, and technology, enhancing the board's expertise. She will serve on the Audit and Risk Management Committee and the Compensation and Human Capital Committee. Meanwhile, Charles E. Lannon will retire at the end of his term in May 2021, concluding 25 years of service. This transition aims to strengthen leadership and drive shareholder value.

Life Storage, Inc. (NYSE:LSI) plans to release its financial results for Q4 2020 on February 22, 2021, after market close. A conference call to discuss the results will be held on February 23, 2021, at 9:00 a.m. ET. Participants may pre-register for the call to avoid delays, with links provided for both pre-registration and access. Life Storage operates over 900 facilities and serves approximately 500,000 customers, reinforcing its position as an industry leader in self-storage services.

Life Storage, Inc (NYSE: LSI) announced tax allocations for its 2020 dividend distributions. Total distribution per share amounts to $4.28, with an ordinary dividend of $3.4056, capital gain of $0.8744, and an unrecaptured Section 1250 gain of $0.1928. Notable dates include record dates of January 14, April 14, July 14, and October 13, 2020, and payable dates following on January 27, April 27, July 27, and October 26, 2020. Shareholders are advised to consult tax advisors regarding the implications of these distributions.

Life Storage, Inc. (NYSE:LSI) announced a 3.7% increase in its quarterly common stock dividend, effective January 27, 2021, for shareholders of record on January 15, 2021. The quarterly dividend is set at $1.11 per share, translating to an annual yield of 3.7%. Additionally, the Board approved a three-for-two stock split, resulting in approximately 74.3 million shares outstanding post-split. These shares will be distributed on January 27, 2021, with trading on a split-adjusted basis commencing January 28, 2021.

Life Storage, Inc. (NYSE: LSI) has launched a micro-fulfillment center in Las Vegas through its subsidiary, Warehouse Anywhere. This initiative aims to enhance e-commerce fulfillment by partnering with Deliverr, allowing sellers to efficiently reach over 27 million customers via one-day shipping. The Las Vegas center spans 7,000 square feet and is designed to ship around 1,300 packages daily by February. A second site is scheduled for mid-January 2021 in Chicago.

Life Storage, Inc. (NYSE:LSI) reported Q3 2020 results with net income of $37.1 million ($0.78/share), down from $140 million ($2.99/share) in Q3 2019 due to a prior gain on sale. Adjusted FFO rose to $1.52/share, a 4.1% increase year-over-year. Same store revenue and NOI increased by 1.2% and 0.4%, respectively. Occupancy reached a record of 93.0%. The company acquired 25 stores valued at $326.7 million and launched a $400 million unsecured notes offering. Despite pandemic impacts, positive trends emerged, including higher move-ins and stable cash collections.

Life Storage, Inc. (NYSE: LSI) will release its financial results for Q3 2020 after market close on November 5, 2020. A conference call to discuss these results is scheduled for November 6, 2020, at 9:00 a.m. ET. The Company emphasizes the importance of pre-registering for the call to avoid delays. With over 900 storage facilities in 30 states and Ontario, Canada, Life Storage caters to both residential and commercial customers, serving approximately 500,000 clients. For further details, investors can visit www.lifestorage.com.