Welcome to our dedicated page for Life Storage news (Ticker: LSI), a resource for investors and traders seeking the latest updates and insights on Life Storage stock.
News for LSI Industries Inc. (symbol LSI, underlying NASDAQ ticker LYTS) centers on its activities as a U.S.-based manufacturer of commercial lighting, graphics, and display solutions. Company releases highlight performance in its Lighting and Display Solutions segments, as well as developments across strategic vertical markets such as refueling and convenience stores, grocery, quick service restaurants, and other retail and commercial environments.
Investors following LSI-related news will see regular earnings announcements discussing net sales, segment performance, adjusted profitability measures, backlog trends, and capital allocation priorities. The company frequently comments on order rates, book-to-bill ratios, and project backlogs, providing insight into demand conditions for non-residential lighting and retail display fixtures across North America.
Another key theme in LSI’s news flow is acquisition and integration activity. The company has reported on acquisitions such as EMI Industries and Canada’s Best Holdings, describing how these businesses expand its display solutions capabilities, geographic reach in Canada, and exposure to verticals including grocery, c-store, banking, and specialty retail. Updates often address how these acquisitions contribute to segment sales and adjusted EBITDA.
LSI also issues conference call and webcast announcements ahead of quarterly and annual results, providing dial-in details and replay information for investors and analysts. These notices typically reiterate the company’s focus on advanced lighting, graphics, and display solutions, its Cincinnati headquarters, and its NASDAQ listing under LYTS.
By monitoring this news feed, users can track LSI’s reported financial results, commentary on vertical market trends, progress on its multi-year growth roadmap, and the impact of acquisitions on its Lighting and Display Solutions segments.
Life Storage, Inc. (NYSE:LSI) announced a quarterly common stock dividend increase from $0.86 to $1.00 per share, translating to an annual yield of 2.6%. This 16% raise reflects the Company's strong operating results and financial stability. The increased dividend will be paid on January 26, 2022, to shareholders of record on January 14, 2022.
CEO Joe Saffire expressed confidence in the Company’s ability to generate strong cash flow for technology investments and shareholder returns, maintaining their payout ratio.
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Life Storage, Inc. (NYSE:LSI) reported strong Q3 2021 results with a net income of $70.3 million, translating to $0.89 per diluted share, a rise from $37.1 million in Q3 2020. Adjusted FFO increased by 35.6% to $1.37 per share. Same-store revenue grew by 17.4%, and same-store NOI rose by 24.3%. The company acquired 29 storage facilities for $336 million and aims for $1.7 billion in total acquisitions this year. The dividend was increased by 16% to $0.86 per share. 2021 guidance for same-store revenue has been revised upwards to 12.5%-13.5%.
Life Storage, Inc. (NYSE:LSI) will release its financial results for the quarter ending September 30, 2021, after market close on November 2, 2021. A conference call to discuss these results will take place on November 3, 2021, at 9:00 a.m. ET. Interested participants are encouraged to pre-register to avoid connection delays, with details provided in the press release. Life Storage operates over 1,000 self-storage facilities across 34 states, serving more than 575,000 customers, further solidifying its position as a leader in the self-storage industry.
Life Storage, Inc. (NYSE:LSI) announced a 16% increase in its quarterly common stock dividend, raising it from $0.74 to $0.86 per share. This adjustment equates to an annual dividend of $3.44, effective from the payment scheduled on October 26, 2021 for shareholders of record on October 13, 2021. The increase reflects the company's strong operating results and financial health, supporting its commitment to return capital to shareholders while investing in its technology and operational platforms.
Life Storage, Inc. (NYSE: LSI) announced the pricing of a $600 million offering of 2.400% Senior Unsecured Notes due 2031. The Notes will be issued at 99.083% of par value, with interest payable semi-annually starting April 15, 2022, and maturing on October 15, 2031. Proceeds from the offering are intended for general corporate purposes, including funding future self-storage acquisitions and repaying debt. The offering is expected to close on October 7, 2021, subject to customary conditions.
Life Storage, Inc. (NYSE: LSI) announced that CEO Joseph Saffire and CFO Andrew Gregoire will participate in a roundtable presentation at the 2021 Global Real Estate Conference hosted by Bank of America Securities. The live webcast is scheduled for September 21, 2021, at approximately 9:45 am ET. Investors can access the presentation via the Company's website or at this link. A replay will be available until December 22, 2021.
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.