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Life Storage NYSE:LSI Stock Report

Last Price


Market Cap







08 Aug, 2022


Company Financials +
LSI fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance5/6
Financial Health2/6

LSI Stock Overview

Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storage facilities.

Life Storage Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Life Storage
Historical stock prices
Current Share PriceUS$130.00
52 Week HighUS$154.45
52 Week LowUS$100.66
1 Month Change13.88%
3 Month Change14.00%
1 Year Change8.08%
3 Year Change89.78%
5 Year Change167.20%
Change since IPO743.24%

Recent News & Updates

Aug 03

Life Storage FFO of $1.65 beats by $0.12, revenue of $257.05M beats by $13.63M

Life Storage press release (NYSE:LSI): Q2 FFO of $1.65 beats by $0.12. Revenue of $257.05M (+37.3% Y/Y) beats by $13.63M.

Jul 05

Life Storage raises dividend by 8% $1.08

Life Storage (NYSE:LSI) declares $1.08/share quarterly dividend, 8% increase from prior dividend of $1.00. Forward yield 3.78% Payable July 26; for shareholders of record July 15; ex-div July 14. See LSI Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns


Return vs Industry: LSI exceeded the US REITs industry which returned -8% over the past year.

Return vs Market: LSI exceeded the US Market which returned -12.9% over the past year.

Price Volatility

Is LSI's price volatile compared to industry and market?
LSI volatility
LSI Average Weekly Movement4.1%
REITs Industry Average Movement4.4%
Market Average Movement7.9%
10% most volatile stocks in US Market17.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: LSI is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: LSI's weekly volatility (4%) has been stable over the past year.

About the Company

19822,241Joe Saffire

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 900 storage facilities in 30 states and in the province of Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

Life Storage Fundamentals Summary

How do Life Storage's earnings and revenue compare to its market cap?
LSI fundamental statistics
Market CapUS$11.09b
Earnings (TTM)US$310.26m
Revenue (TTM)US$927.03m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
LSI income statement (TTM)
Cost of RevenueUS$276.71m
Gross ProfitUS$650.32m
Other ExpensesUS$340.06m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)3.68
Gross Margin70.15%
Net Profit Margin33.47%
Debt/Equity Ratio82.9%

How did LSI perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is LSI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LSI?

Other financial metrics that can be useful for relative valuation.

LSI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue15.4x
Enterprise Value/EBITDA24.4x
PEG Ratio4.2x

Price to Earnings Ratio vs Peers

How does LSI's PE Ratio compare to its peers?

LSI PE Ratio vs Peers
The above table shows the PE ratio for LSI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average37x
CUBE CubeSmart
LAMR Lamar Advertising
GLPI Gaming and Leisure Properties
NSA National Storage Affiliates Trust
LSI Life Storage

Price-To-Earnings vs Peers: LSI is good value based on its Price-To-Earnings Ratio (35.3x) compared to the peer average (37x).

Price to Earnings Ratio vs Industry

How does LSI's PE Ratio compare vs other companies in the US REITs Industry?

Price-To-Earnings vs Industry: LSI is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the US REITs industry average (31.2x)

Price to Earnings Ratio vs Fair Ratio

What is LSI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LSI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.3x
Fair PE Ratio40.3x

Price-To-Earnings vs Fair Ratio: LSI is good value based on its Price-To-Earnings Ratio (35.3x) compared to the estimated Fair Price-To-Earnings Ratio (40.3x).

Share Price vs Fair Value

What is the Fair Price of LSI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: LSI ($130) is trading below our estimate of fair value ($216.89)

Significantly Below Fair Value: LSI is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Future Growth

How is Life Storage forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: LSI's forecast earnings growth (8.4% per year) is above the savings rate (1.9%).

Earnings vs Market: LSI's earnings (8.4% per year) are forecast to grow slower than the US market (12.8% per year).

High Growth Earnings: LSI's earnings are forecast to grow, but not significantly.

Revenue vs Market: LSI's revenue (7.3% per year) is forecast to grow slower than the US market (8% per year).

High Growth Revenue: LSI's revenue (7.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: LSI's Return on Equity is forecast to be low in 3 years time (11.4%).

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Past Performance

How has Life Storage performed over the past 5 years?

Past Performance Score


Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: LSI has high quality earnings.

Growing Profit Margin: LSI's current net profit margins (33.5%) are higher than last year (26.7%).

Past Earnings Growth Analysis

Earnings Trend: LSI's earnings have grown by 17.1% per year over the past 5 years.

Accelerating Growth: LSI's earnings growth over the past year (69%) exceeds its 5-year average (17.1% per year).

Earnings vs Industry: LSI earnings growth over the past year (69%) exceeded the REITs industry 45.8%.

Return on Equity

High ROE: LSI's Return on Equity (8.5%) is considered low.

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Financial Health

How is Life Storage's financial position?

Financial Health Score


Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: LSI's short term assets ($71.3M) do not cover its short term liabilities ($103.3M).

Long Term Liabilities: LSI's short term assets ($71.3M) do not cover its long term liabilities ($3.1B).

Debt to Equity History and Analysis

Debt Level: LSI's net debt to equity ratio (82.1%) is considered high.

Reducing Debt: LSI's debt to equity ratio has reduced from 84.2% to 82.9% over the past 5 years.

Debt Coverage: LSI's debt is not well covered by operating cash flow (16.7%).

Interest Coverage: LSI's interest payments on its debt are well covered by EBIT (4.3x coverage).

Balance Sheet

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What is Life Storage current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: LSI's dividend (3.32%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: LSI's dividend (3.32%) is low compared to the top 25% of dividend payers in the US market (4.1%).

Stability and Growth of Payments

Stable Dividend: LSI's dividends per share have been stable in the past 10 years.

Growing Dividend: LSI's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (60.9%), LSI's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (71.6%), LSI's dividend payments are covered by cash flows.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Joe Saffire (52 yo)





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...

CEO Compensation Analysis

Compensation vs Market: Joe's total compensation ($USD5.17M) is below average for companies of similar size in the US market ($USD12.96M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: LSI's management team is seasoned and experienced (11 years average tenure).

Board Members

Experienced Board: LSI's board of directors are considered experienced (4.4 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.7%.

Top Shareholders

Company Information

Life Storage, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Life Storage, Inc.
  • Ticker: LSI
  • Exchange: NYSE
  • Founded: 1982
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Implied Market Cap: US$11.088b
  • Market Cap: US$10.954b
  • Shares outstanding: 85.30m
  • Website:

Number of Employees


  • Life Storage, Inc.
  • 6467 Main Street
  • Williamsville
  • New York
  • 14221
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/08 00:00
End of Day Share Price2022/08/08 00:00
Annual Earnings2021/12/31

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.