Life Storage
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Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The last earnings update was 14 days ago. More info.
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LSI Share Price and Events
7 Day Returns
1 Year Returns
LSI Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Life Storage (LSI) | 0.3% | 1% | -4.6% | 6% | -7.7% | 26.4% |
| US REITs | 0.2% | -1.4% | 3.2% | 13% | 8.8% | 24% |
| US Market | -3.9% | -3.6% | 1.8% | 1.4% | 35.8% | 40.8% |
1 Year Return vs Industry and Market
- LSI underperformed the REITs industry which returned 13% over the past year.
- LSI outperformed the Market in United States of America which returned 1.4% over the past year.
LSI Value
Is Life Storage undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Life Storage
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Life Storage.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 6 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.5% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.53 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (40.7%)) |
0.801 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.801 * 5.96%) |
7.5% |
Discounted Cash Flow Calculation for NYSE:LSI using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Life Storage is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Life Storage is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 7.5%) |
|
|---|---|---|---|
| 2019 | 233.47 | Analyst x2 | 217.18 |
| 2020 | 242.48 | Analyst x4 | 209.82 |
| 2021 | 250.40 | Analyst x1 | 201.56 |
| 2022 | 263.90 | Analyst x1 | 197.60 |
| 2023 | 278.20 | Analyst x1 | 193.77 |
| 2024 | 289.57 | Est @ 4.09% | 187.62 |
| 2025 | 300.22 | Est @ 3.68% | 180.94 |
| 2026 | 310.41 | Est @ 3.39% | 174.03 |
| 2027 | 320.32 | Est @ 3.19% | 167.06 |
| 2028 | 330.11 | Est @ 3.06% | 160.15 |
| Present value of next 10 years cash flows | $1,889.74 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $330.11 × (1 + 2.73%) ÷ (7.5% – 2.73%) |
$7,107.80 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $7,107.80 ÷ (1 + 7.5%)10 |
$3,448.30 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,889.74 + $3,448.30 |
$5,338.03 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $5,338.03 / 46.79 |
$114.18 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $114.18 |
| Current discount | Discount to share price of
$95.44
= -1 x ($95.44 - $114.18) / $114.18 |
16.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Life Storage's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Life Storage's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Life Storage's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Life Storage's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $4.45 |
| NYSE:LSI Share Price ** | NYSE (2019-05-15) in USD | $95.44 |
| United States of America REITs Industry PE Ratio | Median Figure of 155 Publicly-Listed REITs Companies | 32.37x |
| United States of America Market PE Ratio | Median Figure of 3,087 Publicly-Listed Companies | 17.79x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Life Storage.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:LSI Share Price ÷ EPS (both in USD) = 95.44 ÷ 4.45 |
21.44x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Life Storage is good value based on earnings compared to the US REITs industry average.
- Life Storage is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Life Storage's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 21.44x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts |
2.7%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 141 Publicly-Listed REITs Companies | 1.91x |
| United States of America Market PEG Ratio | Median Figure of 2,113 Publicly-Listed Companies | 1.52x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 21.44x ÷ 2.7% |
7.88x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Life Storage is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Life Storage's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $43.99 |
| NYSE:LSI Share Price * | NYSE (2019-05-15) in USD | $95.44 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.86x |
| United States of America Market PB Ratio | Median Figure of 5,195 Publicly-Listed Companies | 1.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:LSI Share Price ÷ Book Value per Share (both in USD) = 95.44 ÷ 43.99 |
2.17x |
* Primary Listing of Life Storage.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Life Storage is overvalued based on assets compared to the US REITs industry average.
Value checks
We assess Life Storage's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Life Storage has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
LSI Future Performance
How is Life Storage expected to perform in the next 1 to 3 years based on estimates from 6 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Life Storage's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
- Life Storage's earnings growth is positive but not above the United States of America market average.
- Life Storage's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:LSI Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts | 2.7% |
| NYSE:LSI Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts | 3.9% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 5.2% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 4.3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 666 | 192 | 1 | |
| 2022-12-31 | 637 | 182 | 1 | |
| 2021-12-31 | 610 | 172 | 1 | |
| 2020-12-31 | 585 | 150 | 6 | |
| 2019-12-31 | 565 | 150 | 2 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 558 | 268 | 207 |
| 2018-12-31 | 555 | 262 | 207 |
| 2018-09-30 | 550 | 251 | 135 |
| 2018-06-30 | 544 | 250 | 130 |
| 2018-03-31 | 538 | 250 | 110 |
| 2017-12-31 | 533 | 249 | 96 |
| 2017-09-30 | 528 | 257 | 93 |
| 2017-06-30 | 521 | 241 | 53 |
| 2017-03-31 | 495 | 216 | 77 |
| 2016-12-31 | 466 | 226 | 85 |
| 2016-09-30 | 426 | 198 | 97 |
| 2016-06-30 | 386 | 198 | 133 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
All data from Life Storage Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 3.98 | 3.98 | 3.98 | 1.00 |
| 2022-12-31 | 3.78 | 3.78 | 3.78 | 1.00 |
| 2021-12-31 | 3.62 | 3.62 | 3.62 | 1.00 |
| 2020-12-31 | 3.27 | 3.52 | 2.83 | 3.00 |
| 2019-12-31 | 3.35 | 3.40 | 3.30 | 2.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 4.45 |
| 2018-12-31 | 4.44 |
| 2018-09-30 | 2.91 |
| 2018-06-30 | 2.79 |
| 2018-03-31 | 2.37 |
| 2017-12-31 | 2.08 |
| 2017-09-30 | 2.02 |
| 2017-06-30 | 1.15 |
| 2017-03-31 | 1.71 |
| 2016-12-31 | 1.97 |
| 2016-09-30 | 2.39 |
| 2016-06-30 | 3.50 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Life Storage will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Life Storage's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Life Storage has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
LSI Past Performance
How has Life Storage performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Life Storage's year on year earnings growth rate has been positive over the past 5 years.
- Life Storage's 1-year earnings growth exceeds its 5-year average (88.6% vs 13.9%)
- Life Storage's earnings growth has exceeded the US REITs industry average in the past year (88.6% vs 16%).
Earnings and Revenue History
All data from Life Storage Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 558.24 | 207.16 | 48.62 | |
| 2018-12-31 | 554.97 | 206.59 | 48.32 | |
| 2018-09-30 | 549.78 | 135.37 | 46.34 | |
| 2018-06-30 | 543.58 | 129.74 | 45.51 | |
| 2018-03-31 | 538.09 | 109.83 | 49.74 | |
| 2017-12-31 | 533.06 | 96.37 | 49.13 | |
| 2017-09-30 | 528.48 | 93.45 | 49.93 | |
| 2017-06-30 | 520.84 | 53.21 | 49.92 | |
| 2017-03-31 | 495.28 | 77.32 | 44.08 | |
| 2016-12-31 | 466.27 | 85.23 | 43.10 | |
| 2016-09-30 | 425.69 | 97.10 | 41.69 | |
| 2016-06-30 | 386.01 | 133.34 | 40.15 | |
| 2016-03-31 | 362.35 | 118.41 | 39.72 | |
| 2015-12-31 | 370.01 | 112.52 | 38.66 | |
| 2015-09-30 | 332.01 | 108.18 | 38.85 | |
| 2015-06-30 | 322.76 | 102.27 | 42.48 | |
| 2015-03-31 | 313.25 | 94.31 | 41.66 | |
| 2014-12-31 | 304.13 | 88.53 | 40.79 | |
| 2014-09-30 | 291.91 | 82.60 | 38.60 | |
| 2014-06-30 | 278.04 | 76.44 | 34.56 | |
| 2014-03-31 | 265.80 | 73.56 | 34.68 | |
| 2013-12-31 | 255.33 | 71.00 | 34.94 | |
| 2013-09-30 | 244.79 | 63.88 | 35.35 | |
| 2013-06-30 | 236.82 | 58.44 | 34.56 | |
| 2013-03-31 | 227.51 | 51.45 | 33.54 | |
| 2012-12-31 | 218.84 | 47.61 | 32.31 | |
| 2012-09-30 | 213.28 | 44.39 | 31.35 | |
| 2012-06-30 | 203.13 | 31.82 | 29.81 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Life Storage has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Life Storage used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
- Life Storage's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Life Storage's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Life Storage has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
LSI Health
How is Life Storage's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Life Storage's finances.
The net worth of a company is the difference between its assets and liabilities.
- Life Storage's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Life Storage's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Life Storage Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 2,070.84 | 1,815.85 | 8.88 |
| 2018-12-31 | 2,081.45 | 1,714.12 | 13.56 |
| 2018-09-30 | 2,030.07 | 1,750.95 | 13.28 |
| 2018-06-30 | 2,034.08 | 1,735.55 | 7.50 |
| 2018-03-31 | 2,037.18 | 1,752.16 | 8.06 |
| 2017-12-31 | 2,047.70 | 1,726.76 | 9.37 |
| 2017-09-30 | 2,059.75 | 1,741.50 | 6.10 |
| 2017-06-30 | 2,070.76 | 1,743.76 | 8.00 |
| 2017-03-31 | 2,090.62 | 1,711.48 | 4.82 |
| 2016-12-31 | 2,106.59 | 1,666.57 | 23.69 |
| 2016-09-30 | 2,119.46 | 1,656.50 | 16.15 |
| 2016-06-30 | 2,161.23 | 1,219.99 | 901.90 |
| 2016-03-31 | 1,486.64 | 916.64 | 6.37 |
| 2015-12-31 | 1,220.49 | 842.99 | 7.57 |
| 2015-09-30 | 1,166.74 | 885.45 | 6.07 |
| 2015-06-30 | 1,137.07 | 862.95 | 6.62 |
| 2015-03-31 | 1,108.76 | 832.41 | 10.31 |
| 2014-12-31 | 989.49 | 814.47 | 8.54 |
| 2014-09-30 | 967.59 | 762.62 | 8.02 |
| 2014-06-30 | 924.95 | 772.57 | 6.96 |
| 2014-03-31 | 906.87 | 701.46 | 6.84 |
| 2013-12-31 | 883.65 | 633.78 | 10.32 |
| 2013-09-30 | 845.31 | 637.77 | 9.83 |
| 2013-06-30 | 810.64 | 651.01 | 10.53 |
| 2013-03-31 | 797.44 | 669.22 | 6.92 |
| 2012-12-31 | 741.40 | 699.96 | 7.26 |
| 2012-09-30 | 739.38 | 621.79 | 5.42 |
| 2012-06-30 | 684.73 | 664.30 | 7.46 |
- Life Storage's level of debt (87.7%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (77.4% vs 87.7% today).
- Debt is not well covered by operating cash flow (14.7%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 3.2x coverage).
Financial health checks
We assess Life Storage's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Life Storage has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
LSI Dividends
What is Life Storage's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Life Storage
shares you are expected to receive
$84
in your first year as a dividend.
Dividend Amount
- Life Storage's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
- Life Storage's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 184 Stocks | 3.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1997 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 4.28 | 2.00 |
| 2022-12-31 | 4.22 | 2.00 |
| 2021-12-31 | 4.27 | 3.00 |
| 2020-12-31 | 4.22 | 6.00 |
| 2019-12-31 | 4.05 | 5.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-02 | 4.000 | 4.179 |
| 2019-05-01 | 4.000 | 4.165 |
| 2019-02-26 | 4.000 | 4.162 |
| 2019-02-25 | 4.000 | 4.115 |
| 2018-11-01 | 4.000 | 4.159 |
| 2018-10-31 | 4.000 | 4.236 |
| 2018-07-05 | 4.000 | 4.177 |
| 2018-04-03 | 4.000 | 4.400 |
| 2018-01-04 | 4.000 | 4.897 |
| 2017-10-03 | 4.000 | 4.638 |
| 2017-07-05 | 4.000 | 5.314 |
| 2017-04-05 | 4.000 | 5.170 |
| 2017-01-04 | 3.800 | 4.528 |
| 2016-10-04 | 3.800 | 4.573 |
| 2016-07-05 | 3.800 | 3.997 |
| 2016-04-04 | 3.800 | 3.503 |
| 2016-01-04 | 3.400 | 3.111 |
| 2015-10-02 | 3.400 | 3.387 |
| 2015-07-01 | 3.400 | 3.665 |
| 2015-04-06 | 3.000 | 3.348 |
| 2015-01-05 | 3.000 | 3.220 |
| 2014-10-02 | 2.720 | 3.252 |
| 2014-07-02 | 2.720 | 3.537 |
| 2014-04-07 | 2.720 | 3.576 |
| 2014-01-06 | 2.720 | 3.871 |
| 2013-10-02 | 2.120 | 3.031 |
| 2013-07-02 | 2.120 | 3.005 |
| 2013-04-02 | 1.920 | 2.899 |
| 2013-01-02 | 1.920 | 3.013 |
| 2012-10-01 | 1.800 | 3.006 |
| 2012-07-02 | 1.800 | 3.204 |
| 2012-04-02 | 1.800 | 3.571 |
| 2012-01-03 | 1.800 | 3.816 |
| 2011-10-03 | 1.800 | 4.399 |
| 2011-07-01 | 1.800 | 4.569 |
| 2011-04-01 | 1.800 | 4.444 |
| 2011-01-03 | 1.800 | 4.722 |
| 2010-10-01 | 1.800 | 4.809 |
| 2010-07-01 | 1.800 | 4.868 |
| 2010-04-01 | 1.800 | 4.968 |
| 2010-01-04 | 1.800 | 5.247 |
| 2009-10-01 | 1.800 | 5.606 |
| 2009-07-02 | 1.800 | 6.552 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Life Storage's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.4x coverage).
- Dividends after 3 years are expected to be thoroughly covered by earnings (66.9x coverage).
Income/ dividend checks
We assess Life Storage's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Life Storage afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Life Storage has a total score of 6/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
LSI Management
CEO
| COMPENSATION | $2,433,202 |
| AGE | 48 |
| TENURE AS CEO | 0.2 years |
CEO Bio
Mr. Joseph V. Saffire, also known as Joe, has been Director and Chief Executive Officer at Life Storage, Inc. since March 14, 2019 and March 1, 2019 respectively. Mr. Saffire was Chief Investment Officer of Life Storage, Inc. since November 01, 2017 until March 1, 2019. Prior to joining Life Storage, Mr. Saffire served as Executive Vice President and Head of Commercial Banking at First Niagara Financial Group. In this role, he oversaw nearly $20 billion in assets and was responsible for developing and implementing a five-year commercial strategic plan. He also led several lines of business including commercial lending, capital markets, equipment leasing and commercial real estate. He served as an Executive Vice President of Commercial Financial Services at First Niagara Financial Group Inc. since April 2014. Prior to joining the Life Storage, Mr. Saffire served as Executive Vice President and Head of Commercial Banking of First Niagara Bank from April 2014 to September 2016 and served as an Executive Vice President and Head of Global Banking for Europe, the Middle East and Africa of Wells Fargo Bank from 2012 to 2014. He is a 25 year commercial banking veteran. He has extensive senior leadership experience and expertise successfully developing and implementing complex strategic plans. He served as Head of Global Banking for EMEA at Wells Fargo & Company since January 15, 2013 and also served as its Executive Vice President. He spent the majority of his career as an International Manager with HSBC, where he held a variety of leadership positions across Asia, North America and Europe. Mr. Saffire spent 20 years with HSBC. He served as Head of Middle-Market Commercial Banking at HSBC Trinkaus & Burkhardt AG since August 2010. He served as the Chief Operating Officer of Corporate Banking and Head of international corporate and commercial banking for HSBC Trinkaus & Burkhardt AG. Mr. Saffire served as an Executive Vice President and Regional President of Commercial Banking for HSBC Bank USA, N.A. since August 2007 until 2010. During his tenure at HSBC, he held roles covering its global industrial sector and led a multinational banking team in South Korea. He serves as Director of Business Council of New York State Inc. Mr. Saffire graduated magna cum laude from Boston College with a B.S. in finance and from University at Buffalo with an M.B.A in finance and international management.
CEO Compensation
- Joe's compensation has increased by more than 20% in the past year.
- Joe's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Life Storage management team in years:
- The average tenure for the Life Storage management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Joe Saffire
CEO & Director
$2M
48
0.2 yrs
Joe, Andy Gregoire
CFO & Secretary
$2M
50
7.2 yrs
Ed Killeen
Chief Operating Officer
$2M
54
4.3 yrs
David Dodman
Vice President of Investor Relations & Strategic Planning
John Rogers
Vice President of Business Development
26.3 yrs
Christopher Laczi
Vice President of Marketing
3.4 yrs
Jennifer Kozub
Director of Human Resources
20.3 yrs
Randy Hillman
Regional Vice President
15.3 yrs
David Paolini
Vice President of Revenue Management
9.3 yrs
Jeffrey O'Donnell
Vice President of Information Technology
19.3 yrs
Board of Directors Tenure
Average tenure and age of the Life Storage board of directors in years:
- The average tenure for the Life Storage board of directors is less than 3 years, this suggests a new board.
Board of Directors
Mark Barberio
Non-Executive Chairman
$255K
56
1 yrs
Joe Saffire
CEO & Director
$2M
48
0.2 yrs
Stephen Rusmisel
Independent Director
$227K
72
7 yrs
Art Havener
Independent Director
$177K
51
4.3 yrs
Carol Hansell
Independent Director
$167K
60
1.5 yrs
Dave Rogers
Director
$1M
62
1.2 yrs
Charles Lannon
Independent Director
$171K
70
23.9 yrs
Ed Pettinella
Independent Director
$176K
66
1.2 yrs
Dana Hamilton
Independent Director
$179K
49
1.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13. May 19 | Sell | Arthur Havener | Individual | 13. May 19 | 13. May 19 | -598 | $95.77 | $-57,270 | ||
| 15. Mar 19 | Sell | David Rogers | Individual | 15. Mar 19 | 15. Mar 19 | -10,000 | $96.12 | $-961,200 | ||
| 14. Dec 18 | Sell | Edward Killeen | Individual | 12. Dec 18 | 14. Dec 18 | -4,006 | $101.99 | $-405,008 | ||
| 04. Dec 18 | Sell | Arthur Havener | Individual | 04. Dec 18 | 04. Dec 18 | -650 | $99.00 | $-64,350 | ||
| 05. Nov 18 | Sell | Kenneth Myszka | Individual | 05. Nov 18 | 05. Nov 18 | -5,000 | $94.39 | $-471,955 | ||
Management checks
We assess Life Storage's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Life Storage has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
LSI News
Simply Wall St News
Could Life Storage, Inc.'s (NYSE:LSI) Investor Composition Influence The Stock Price?
With a market capitalization of US$4.5b, Life Storage is rather large. … See our latest analysis for Life Storage NYSE:LSI Ownership Summary, May 13th 2019 What Does The Institutional Ownership Tell Us About Life Storage? … Insider Ownership Of Life Storage The definition of an insider can differ slightly between different countries, but members of the board of directors always count.
Simply Wall St - – Full articleWhy You Shouldn't Look At Life Storage, Inc.'s (NYSE:LSI) Bottom Line
This impacts how LSI’s business operates and also how we should analyse its stock. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities … These items can distort the bottom line and not necessarily reflective of LSI’s daily operations
Simply Wall St - – Full articleLife Storage, Inc. (NYSE:LSI): What Does The Future Look Like?
The latest earnings release Life Storage, Inc.'s (NYSE:LSI) announced in December 2018a
Simply Wall St - – Full articleHere's What We Think About Life Storage, Inc.'s (NYSE:LSI) CEO Pay
Dave Rogers became the CEO of Life Storage, Inc. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Dave Rogers's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleHow Good Is Life Storage, Inc. (NYSE:LSI), When It Comes To ROE?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.067 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleHow Should You Analyze REIT Stock Life Storage, Inc. (NYSE:LSI)?
real estate investment trust (REIT) based in Williamsville, United States. … View our latest analysis for Life Storage. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities
Simply Wall St - – Full articleRead This Before Buying Life Storage Inc (NYSE:LSI) Shares
So we'll take a look at whether insiders have been buying or selling shares in Life Storage Inc (NYSE:LSI). … As a general rule we consider it to be discouraging when insiders are selling below the current price. … In total, Life Storage insiders sold more than they bought over the last year.
Simply Wall St - – Full articleLife Storage Inc (NYSE:LSI): Immense Growth Potential?
As Life Storage Inc (NYSE:LSI) released its earnings announcement on 30 September 2018, … analyst consensus outlook appear cautiously optimistic, … with earnings expected to grow by 13% in the upcoming year
Simply Wall St - – Full articleShould You Worry About Life Storage Inc's (NYSE:LSI) CEO Pay?
This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Dave Rogers's Compensation Compare With Similar Sized Companies. … Most shareholders would consider it a positive that Dave Rogers takes less compensation than the CEOs of most similar size companies, leaving more for shareholders.
Simply Wall St - – Full articleLife Storage Inc (NYSE:LSI): What Does The Future Look Like?
In March 2018, Life Storage Inc (NYSE:LSI) released its earnings update. … with profits predicted to increase by 32.86% next year … the past 5-year average growth rate of 15.48%
Simply Wall St - – Full articleLSI Company Info
Description
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 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to its 400,000-plus customers, making it a leader in the industry.
Details
| Name: | Life Storage, Inc. |
| LSI | |
| Exchange: | NYSE |
| Founded: | 1982 |
| $4,461,885,449 | |
| $4,441,399,084 | |
| 46,785,000 | |
| Website: | http://www.lifestorage.com |
| Address: |
Life Storage, Inc. 6467 Main Street, Williamsville, New York, 14221, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | LSI | Common Stock | New York Stock Exchange | US | USD | 21. Jun 1995 | |
| DB | SOV | Common Stock | Deutsche Boerse AG | DE | EUR | 21. Jun 1995 | |
| DB | SOV | Com | Deutsche Boerse AG | DE | EUR | 15. Aug 2016 |
Number of employees
Current staff
Industry
| Specialized REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/16 01:31 |
| End of day share price update: | 2019/05/15 00:00 |
| Last estimates confirmation: | 2019/05/14 |
| Last earnings filing: | 2019/05/02 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
