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Life Storage

NYSE:LSI
Snowflake Description

6 star dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LSI
NYSE
$4B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company 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. The last earnings update was 14 days ago. More info.


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LSI Share Price and Events
7 Day Returns
0.3%
NYSE:LSI
0.2%
US REITs
-3.9%
US Market
1 Year Returns
6%
NYSE:LSI
13%
US REITs
1.4%
US Market
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.
Price Volatility
LSI
Industry
5yr Volatility vs Market

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Life Storage.

NYSE:LSI Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for NYSE:LSI
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.

NYSE:LSI DCF 1st Stage: Next 10 year cash flow forecast
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
NYSE:LSI DCF 2nd Stage: Terminal Value
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
NYSE:LSI Total Equity Value
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
NYSE:LSI Discount to Share Price
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
Amount off the current price Life Storage is available for.
Intrinsic value
16%
Share price is $95.44 vs Future cash flow value of $114.18
Current Discount Checks
For Life Storage to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
NYSE:LSI PE (Price to Earnings) Ratio Data Sources
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.

NYSE:LSI PE (Price to Earnings) Ratio Calculation
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?
Raw Data
NYSE:LSI PEG (Price to Earnings to Growth) Ratio Data Sources
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 .

NYSE:LSI PEG (Price to Earnings to Growth) Ratio Calculation
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?
Raw Data
NYSE:LSI PB (Price to Book) Ratio Data Sources
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
NYSE:LSI PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess Life Storage's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. 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!
Annual Growth Rate
2.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Life Storage expected to grow at an attractive rate?
  • 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
Raw Data
NYSE:LSI Future Growth Rates Data Sources
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
Raw Data
NYSE:LSI Analysts Growth Expectations Data Sources
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 numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:LSI Future Estimates Data
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
NYSE:LSI Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Life Storage's earnings are expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
  • Life Storage's revenue is expected to grow by 3.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:LSI 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.

NYSE:LSI Future Estimates Data
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
NYSE:LSI Past Financials Data
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.
X
Future performance checks
We assess Life Storage's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
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
Below we compare Life Storage's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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
Life Storage's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Life Storage Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:LSI Past Revenue, Cash Flow and Net Income Data
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).
X
Past performance checks
We assess Life Storage's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Life Storage's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • 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.
Raw Data

All data from Life Storage Company Filings, last reported 1 month ago.

NYSE:LSI Past Debt and Equity Data
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).
X
Financial health checks
We assess Life Storage's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Life Storage has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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
Dividend payments
4.19%
Current annual income from Life Storage dividends. Estimated to be 4.39% next year.
If you bought $2,000 of Life Storage shares you are expected to receive $84 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • 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.
Raw Data
NYSE:LSI Annualized Past and Future Dividends
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.

NYSE:LSI Future Dividends Estimate Data
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
NYSE:LSI Past Annualized Dividends Data
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).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (66.9x coverage).
X
Income/ dividend checks
We assess Life Storage's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. 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

 What is the CEO of Life Storage's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joe Saffire
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:

9.3
Average Tenure
50
Average Age
  • 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

TITLE
CEO & Director
COMPENSATION
$2M
AGE
48
TENURE
0.2 yrs

Joe, Andy Gregoire

TITLE
CFO & Secretary
COMPENSATION
$2M
AGE
50
TENURE
7.2 yrs

Ed Killeen

TITLE
Chief Operating Officer
COMPENSATION
$2M
AGE
54
TENURE
4.3 yrs

David Dodman

TITLE
Vice President of Investor Relations & Strategic Planning

John Rogers

TITLE
Vice President of Business Development
TENURE
26.3 yrs

Christopher Laczi

TITLE
Vice President of Marketing
TENURE
3.4 yrs

Jennifer Kozub

TITLE
Director of Human Resources
TENURE
20.3 yrs

Randy Hillman

TITLE
Regional Vice President
TENURE
15.3 yrs

David Paolini

TITLE
Vice President of Revenue Management
TENURE
9.3 yrs

Jeffrey O'Donnell

TITLE
Vice President of Information Technology
TENURE
19.3 yrs
Board of Directors Tenure

Average tenure and age of the Life Storage board of directors in years:

1.2
Average Tenure
60
Average Age
  • 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

TITLE
Non-Executive Chairman
COMPENSATION
$255K
AGE
56
TENURE
1 yrs

Joe Saffire

TITLE
CEO & Director
COMPENSATION
$2M
AGE
48
TENURE
0.2 yrs

Stephen Rusmisel

TITLE
Independent Director
COMPENSATION
$227K
AGE
72
TENURE
7 yrs

Art Havener

TITLE
Independent Director
COMPENSATION
$177K
AGE
51
TENURE
4.3 yrs

Carol Hansell

TITLE
Independent Director
COMPENSATION
$167K
AGE
60
TENURE
1.5 yrs

Dave Rogers

TITLE
Director
COMPENSATION
$1M
AGE
62
TENURE
1.2 yrs

Charles Lannon

TITLE
Independent Director
COMPENSATION
$171K
AGE
70
TENURE
23.9 yrs

Ed Pettinella

TITLE
Independent Director
COMPENSATION
$176K
AGE
66
TENURE
1.2 yrs

Dana Hamilton

TITLE
Independent Director
COMPENSATION
$179K
AGE
49
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • Life Storage insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) 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
X
Management checks
We assess Life Storage's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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 -

Why 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 -

Life 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 -

Here'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 -

How 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 -

How 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 -

Read 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 -

Life 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 -

Should 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 -

Life 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 -

LSI 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
Staff numbers
1,953
Life Storage employees.
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.