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 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.
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.