Intrinsic value of Life Storage - LSI

Previous Close

$95.57

  Intrinsic Value

$35.34

stock screener

  Rating & Target

str. sell

-63%

Previous close

$95.57

 
Intrinsic value

$35.34

 
Up/down potential

-63%

 
Rating

str. sell

We calculate the intrinsic value of LSI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.50
  13.55
  12.70
  11.93
  11.23
  10.61
  10.05
  9.54
  9.09
  8.68
  8.31
  7.98
  7.68
  7.41
  7.17
  6.96
  6.76
  6.58
  6.43
  6.28
  6.15
  6.04
  5.94
  5.84
  5.76
  5.68
  5.61
  5.55
  5.50
  5.45
Revenue, $m
  607
  689
  777
  869
  967
  1,069
  1,177
  1,289
  1,406
  1,528
  1,655
  1,788
  1,925
  2,068
  2,216
  2,370
  2,530
  2,697
  2,870
  3,051
  3,238
  3,434
  3,638
  3,850
  4,072
  4,303
  4,545
  4,797
  5,061
  5,337
Variable operating expenses, $m
  139
  157
  176
  196
  217
  239
  262
  286
  311
  337
  355
  383
  413
  443
  475
  508
  543
  578
  616
  654
  694
  736
  780
  826
  873
  923
  975
  1,029
  1,085
  1,144
Fixed operating expenses, $m
  245
  251
  256
  262
  268
  273
  279
  286
  292
  298
  305
  312
  318
  325
  333
  340
  347
  355
  363
  371
  379
  387
  396
  405
  414
  423
  432
  441
  451
  461
Total operating expenses, $m
  384
  408
  432
  458
  485
  512
  541
  572
  603
  635
  660
  695
  731
  768
  808
  848
  890
  933
  979
  1,025
  1,073
  1,123
  1,176
  1,231
  1,287
  1,346
  1,407
  1,470
  1,536
  1,605
Operating income, $m
  222
  281
  345
  412
  483
  557
  636
  718
  804
  893
  996
  1,093
  1,194
  1,299
  1,408
  1,522
  1,640
  1,763
  1,892
  2,025
  2,165
  2,310
  2,462
  2,620
  2,785
  2,958
  3,138
  3,327
  3,524
  3,731
EBITDA, $m
  684
  805
  933
  1,069
  1,213
  1,364
  1,523
  1,689
  1,862
  2,042
  2,230
  2,426
  2,629
  2,841
  3,061
  3,290
  3,528
  3,775
  4,033
  4,301
  4,580
  4,871
  5,175
  5,492
  5,822
  6,168
  6,528
  6,905
  7,299
  7,712
Interest expense (income), $m
  40
  105
  105
  106
  107
  108
  109
  110
  111
  112
  114
  115
  116
  118
  119
  121
  122
  124
  126
  127
  129
  131
  133
  135
  137
  139
  142
  144
  147
  149
  152
Earnings before tax, $m
  118
  176
  238
  305
  375
  448
  525
  606
  691
  779
  881
  976
  1,076
  1,180
  1,287
  1,400
  1,516
  1,638
  1,764
  1,896
  2,034
  2,177
  2,327
  2,483
  2,646
  2,816
  2,994
  3,180
  3,375
  3,579
Tax expense, $m
  32
  48
  64
  82
  101
  121
  142
  164
  187
  210
  238
  264
  290
  318
  348
  378
  409
  442
  476
  512
  549
  588
  628
  670
  714
  760
  808
  859
  911
  966
Net income, $m
  86
  129
  174
  222
  273
  327
  384
  443
  504
  569
  643
  713
  785
  861
  940
  1,022
  1,107
  1,196
  1,288
  1,384
  1,485
  1,589
  1,698
  1,812
  1,931
  2,056
  2,186
  2,322
  2,464
  2,613

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -376
  -426
  -481
  -538
  -598
  -662
  -728
  -798
  -870
  -946
  -1,024
  -1,106
  -1,191
  -1,279
  -1,371
  -1,467
  -1,566
  -1,669
  -1,776
  -1,888
  -2,004
  -2,125
  -2,251
  -2,383
  -2,520
  -2,663
  -2,812
  -2,969
  -3,132
  -3,302
Adjusted assets (=assets-cash), $m
  -376
  -426
  -481
  -538
  -598
  -662
  -728
  -798
  -870
  -946
  -1,024
  -1,106
  -1,191
  -1,279
  -1,371
  -1,467
  -1,566
  -1,669
  -1,776
  -1,888
  -2,004
  -2,125
  -2,251
  -2,383
  -2,520
  -2,663
  -2,812
  -2,969
  -3,132
  -3,302
Revenue / Adjusted assets
  -1.614
  -1.617
  -1.615
  -1.615
  -1.617
  -1.615
  -1.617
  -1.615
  -1.616
  -1.615
  -1.616
  -1.617
  -1.616
  -1.617
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
  -1.616
Average production assets, $m
  4,526
  5,140
  5,792
  6,483
  7,211
  7,976
  8,778
  9,616
  10,490
  11,400
  12,348
  13,333
  14,358
  15,422
  16,529
  17,679
  18,874
  20,116
  21,409
  22,754
  24,155
  25,614
  27,134
  28,719
  30,373
  32,098
  33,900
  35,783
  37,750
  39,806
Working capital, $m
  -2,077
  -2,358
  -2,657
  -2,974
  -3,308
  -3,659
  -4,027
  -4,411
  -4,812
  -5,230
  -5,665
  -6,117
  -6,587
  -7,075
  -7,583
  -8,110
  -8,659
  -9,229
  -9,822
  -10,439
  -11,082
  -11,751
  -12,448
  -13,176
  -13,934
  -14,726
  -15,553
  -16,416
  -17,319
  -18,262
Total debt, $m
  142
  143
  145
  146
  147
  149
  150
  152
  153
  155
  157
  159
  161
  163
  165
  167
  169
  172
  174
  177
  180
  182
  185
  188
  191
  195
  198
  202
  205
  209
Total liabilities, $m
  9
  10
  11
  12
  14
  15
  17
  18
  20
  22
  24
  25
  27
  29
  32
  34
  36
  38
  41
  43
  46
  49
  52
  55
  58
  61
  65
  68
  72
  76
Total equity, $m
  -384
  -436
  -492
  -550
  -612
  -677
  -745
  -816
  -890
  -968
  -1,048
  -1,132
  -1,219
  -1,309
  -1,403
  -1,500
  -1,602
  -1,707
  -1,817
  -1,931
  -2,050
  -2,174
  -2,303
  -2,437
  -2,578
  -2,724
  -2,877
  -3,037
  -3,204
  -3,378
Total liabilities and equity, $m
  -375
  -426
  -481
  -538
  -598
  -662
  -728
  -798
  -870
  -946
  -1,024
  -1,107
  -1,192
  -1,280
  -1,371
  -1,466
  -1,566
  -1,669
  -1,776
  -1,888
  -2,004
  -2,125
  -2,251
  -2,382
  -2,520
  -2,663
  -2,812
  -2,969
  -3,132
  -3,302
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  86
  129
  174
  222
  273
  327
  384
  443
  504
  569
  643
  713
  785
  861
  940
  1,022
  1,107
  1,196
  1,288
  1,384
  1,485
  1,589
  1,698
  1,812
  1,931
  2,056
  2,186
  2,322
  2,464
  2,613
Depreciation, amort., depletion, $m
  462
  523
  589
  658
  730
  807
  887
  971
  1,058
  1,149
  1,235
  1,333
  1,436
  1,542
  1,653
  1,768
  1,887
  2,012
  2,141
  2,275
  2,415
  2,561
  2,713
  2,872
  3,037
  3,210
  3,390
  3,578
  3,775
  3,981
Funds from operations, $m
  548
  652
  763
  880
  1,004
  1,134
  1,271
  1,414
  1,563
  1,718
  1,878
  2,046
  2,221
  2,403
  2,593
  2,790
  2,994
  3,207
  3,429
  3,660
  3,900
  4,151
  4,412
  4,684
  4,969
  5,266
  5,576
  5,900
  6,239
  6,593
Change in working capital, $m
  -263
  -281
  -299
  -317
  -334
  -351
  -368
  -384
  -401
  -418
  -435
  -452
  -470
  -488
  -508
  -527
  -548
  -570
  -593
  -617
  -643
  -669
  -697
  -727
  -759
  -792
  -827
  -864
  -902
  -943
Cash from operations, $m
  811
  933
  1,062
  1,197
  1,338
  1,485
  1,638
  1,798
  1,964
  2,136
  2,312
  2,498
  2,691
  2,892
  3,100
  3,317
  3,543
  3,777
  4,022
  4,277
  4,543
  4,820
  5,109
  5,411
  5,727
  6,057
  6,402
  6,763
  7,141
  7,537
Maintenance CAPEX, $m
  -395
  -453
  -514
  -579
  -648
  -721
  -798
  -878
  -962
  -1,049
  -1,140
  -1,235
  -1,333
  -1,436
  -1,542
  -1,653
  -1,768
  -1,887
  -2,012
  -2,141
  -2,275
  -2,415
  -2,561
  -2,713
  -2,872
  -3,037
  -3,210
  -3,390
  -3,578
  -3,775
New CAPEX, $m
  -575
  -613
  -653
  -691
  -728
  -765
  -802
  -838
  -874
  -911
  -948
  -986
  -1,024
  -1,065
  -1,106
  -1,150
  -1,195
  -1,243
  -1,293
  -1,345
  -1,401
  -1,459
  -1,520
  -1,585
  -1,654
  -1,726
  -1,802
  -1,882
  -1,967
  -2,056
Cash from investing activities, $m
  -970
  -1,066
  -1,167
  -1,270
  -1,376
  -1,486
  -1,600
  -1,716
  -1,836
  -1,960
  -2,088
  -2,221
  -2,357
  -2,501
  -2,648
  -2,803
  -2,963
  -3,130
  -3,305
  -3,486
  -3,676
  -3,874
  -4,081
  -4,298
  -4,526
  -4,763
  -5,012
  -5,272
  -5,545
  -5,831
Free cash flow, $m
  -159
  -133
  -105
  -73
  -39
  -1
  39
  82
  128
  176
  225
  278
  333
  391
  452
  514
  580
  647
  718
  791
  867
  946
  1,028
  1,113
  1,202
  1,294
  1,391
  1,491
  1,596
  1,705
Issuance/(repayment) of debt, $m
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
Issuance/(repurchase) of shares, $m
  -49
  -52
  -55
  -59
  -62
  -65
  -68
  -71
  -74
  -77
  -80
  -84
  -87
  -90
  -94
  -98
  -101
  -105
  -110
  -114
  -119
  -124
  -129
  -135
  -140
  -146
  -153
  -160
  -167
  -175
Cash from financing (excl. dividends), $m  
  -48
  -51
  -54
  -58
  -61
  -64
  -66
  -69
  -72
  -75
  -78
  -82
  -85
  -88
  -92
  -96
  -99
  -103
  -108
  -111
  -116
  -121
  -126
  -132
  -137
  -143
  -150
  -156
  -163
  -171
Total cash flow (excl. dividends), $m
  -207
  -184
  -159
  -130
  -99
  -65
  -27
  13
  56
  101
  146
  196
  248
  303
  360
  419
  480
  544
  610
  679
  751
  825
  902
  981
  1,065
  1,151
  1,241
  1,335
  1,433
  1,535
Retained Cash Flow (-), $m
  49
  52
  55
  59
  62
  65
  68
  71
  74
  77
  80
  84
  87
  90
  94
  98
  101
  105
  110
  114
  119
  124
  129
  135
  140
  146
  153
  160
  167
  175
Prev. year cash balance distribution, $m
  335
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  7
  0
  0
  0
  0
  0
  0
  16
  18
  20
  21
  23
  25
  27
  29
  31
  33
  35
  38
  40
  43
  45
  48
  51
  54
  57
  60
  64
  67
  71
Cash available for distribution, $m
  177
  52
  55
  59
  62
  65
  68
  84
  130
  178
  226
  280
  335
  393
  454
  517
  582
  650
  720
  793
  869
  948
  1,031
  1,116
  1,205
  1,298
  1,394
  1,495
  1,600
  1,709
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  168
  46
  46
  46
  44
  43
  41
  46
  63
  77
  87
  93
  96
  96
  94
  89
  82
  74
  65
  56
  47
  39
  31
  25
  19
  14
  10
  7
  5
  3
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Life Storage, Inc., formerly Sovran Self Storage, Inc., is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties. The Company owns its assets and conducts its operations through Life Storage LP (the Operating Partnership) and subsidiaries of the Operating Partnership. As of December 31, 2016, the Company had an ownership interest in and/or managed 659 self-storage properties in 29 states under the names Life Storage and Uncle Bob's Self Storage. As of December 31, 2016, the Company's properties were located in various states of the United States, such as Alabama, Arizona, Colorado, California, Florida, Georgia, Maine, Kentucky, Nevada, New Jersey, Ohio, North Carolina, South Carolina, Texas, Utah and Virginia. As of December 31, 2016, the Company's properties ranged in size from 18,000 to 195,000 net rentable square feet, with an average of approximately 70,000 net rentable square feet.

FINANCIAL RATIOS  of  Life Storage (LSI)

Valuation Ratios
P/E Ratio 52.2
Price to Sales 9.6
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 19.6
Price to Free Cash Flow 29
Growth Rates
Sales Growth Rate 26.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 73.8%
Cap. Spend. - 3 Yr. Gr. Rate 16.5%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 79.2%
Total Debt to Equity 79.2%
Interest Coverage 3
Management Effectiveness
Return On Assets 4.2%
Ret/ On Assets - 3 Yr. Avg. 6.3%
Return On Total Capital 2.9%
Ret/ On T. Cap. - 3 Yr. Avg. 4.8%
Return On Equity 5.2%
Return On Equity - 3 Yr. Avg. 8.4%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 67.2%
Gross Margin - 3 Yr. Avg. 67.8%
EBITDA Margin 52.3%
EBITDA Margin - 3 Yr. Avg. 54%
Operating Margin 29.2%
Oper. Margin - 3 Yr. Avg. 35.4%
Pre-Tax Margin 18.4%
Pre-Tax Margin - 3 Yr. Avg. 25.5%
Net Profit Margin 18.4%
Net Profit Margin - 3 Yr. Avg. 25.5%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 183.5%

LSI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LSI stock intrinsic value calculation we used $530 million for the last fiscal year's total revenue generated by Life Storage. The default revenue input number comes from 2017 income statement of Life Storage. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LSI stock valuation model: a) initial revenue growth rate of 14.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for LSI is calculated based on our internal credit rating of Life Storage, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Life Storage.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LSI stock the variable cost ratio is equal to 23.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $240 million in the base year in the intrinsic value calculation for LSI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 74.1% for Life Storage.

Corporate tax rate of 27% is the nominal tax rate for Life Storage. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LSI stock is equal to 1.4%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LSI are equal to 745.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Life Storage operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LSI is equal to -342.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Life Storage - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 47 million for Life Storage is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Life Storage at the current share price and the inputted number of shares is $4.5 billion.

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COMPANY NEWS

▶ Life Storage, Inc. Announces Dividend on Common Stock   [Jul-05-18 04:05PM  Business Wire]
▶ Is It Time To Buy Life Storage Inc (NYSE:LSI)?   [Jun-26-18 09:48AM  Simply Wall St.]
▶ Biggest Buffalo public companies continue to grow   [Jun-03-18 08:10AM  American City Business Journals]
▶ Life Storage, Inc. to Participate at REITWeek┬« 2018   [May-30-18 09:15AM  Business Wire]
▶ Push to add women to WNY boards gains momentum   [May-11-18 02:55AM  American City Business Journals]
▶ Life Storage: 1Q Earnings Snapshot   [May-02-18 07:27PM  Associated Press]
▶ Life Storage, Inc. Announces Dividend on Common Stock   [Apr-03-18 04:05PM  Business Wire]
▶ Does LSI Software SA.s (WSE:LSI) PE Ratio Warrant A Buy?   [Mar-20-18 11:30AM  Simply Wall St.]
▶ These 6% Dividends Are Flashing Buy   [Feb-28-18 03:56AM  Harvest Exchange]
▶ Life Storage, Inc. to Host Earnings Call   [Feb-22-18 07:15AM  ACCESSWIRE]
▶ Life Storage reports 4Q results   [Feb-21-18 06:13PM  Associated Press]
▶ Extra Spaces Occupancy Rate and Other Growth Factors   [Jan-26-18 09:05AM  Market Realist]
▶ Key Drivers of Extra Spaces 2018 Performance   [07:38AM  Market Realist]
▶ Life Storage, Inc. Announces Dividend on Common Stock   [Jan-03-18 04:10PM  Business Wire]
▶ Stocks With Rising Relative Strength: Life Storage   [Dec-12-17 03:00AM  Investor's Business Daily]
▶ Life Storage Sees RS Rating Rise To 74   [Nov-30-17 03:00AM  Investor's Business Daily]
▶ Life Storage, Inc. Prices Offering of Senior Notes   [Nov-28-17 04:54PM  Business Wire]
▶ 4 Cheap Dividend Growers to Buy Now and Hold Forever   [Nov-27-17 03:56AM  Harvest Exchange]
▶ Life Storage Earns Relative Strength Rating Upgrade   [Nov-08-17 03:00AM  Investor's Business Daily]
▶ Life Storage, Inc. to Host Earnings Call   [Nov-02-17 07:10AM  ACCESSWIRE]
▶ Life Storage reports 3Q results   [Nov-01-17 05:47PM  Associated Press]
▶ After Slump, This High-Dividend Storage Stock Is Setting Up A Bullish Pattern   [Oct-04-17 03:00PM  Investor's Business Daily]
▶ Life Storage, Inc. Announces Dividend on Common Stock   [Oct-03-17 09:05AM  Business Wire]
▶ Post-Harvey Boost Won't Last For Life Storage   [Sep-25-17 03:36PM  Benzinga]
▶ [$$] Life Storage Set to Top Extra Space   [Sep-12-17 11:12AM  Barrons.com]
▶ Life Storage, Inc. Provides Hurricane Harvey Update   [Sep-01-17 05:10PM  Business Wire]
▶ Life Storage reports 2Q results   [Aug-04-17 12:59AM  Associated Press]
▶ ETFs with exposure to Life Storage, Inc. : July 24, 2017   [Jul-24-17 05:08PM  Capital Cube]
▶ ETFs with exposure to Life Storage, Inc. : July 14, 2017   [Jul-14-17 03:27PM  Capital Cube]
▶ Life Storage, Inc. Announces Dividend on Common Stock   [Jul-05-17 04:05PM  Business Wire]
▶ Life Storage, Inc. to Participate at REITWeek┬« 2017   [May-25-17 09:19AM  Business Wire]
▶ Life Storage reports 1Q results   [May-03-17 05:36PM  Associated Press]
▶ Life Storage, Inc. Raises Quarterly Common Stock Dividend   [Apr-05-17 04:08PM  Business Wire]
▶ A Look at Investing in Storage REITs   [Apr-04-17 12:24PM  Investopedia]
▶ How to Make Money Off American's Love of Clutter   [Apr-01-17 11:21AM  Motley Fool]
▶ This 5-Stock Portfolio Crushes The S&P 500   [Mar-22-17 03:00PM  at Forbes]
▶ 2 Stocks That Could Make You Rich   [Mar-17-17 10:47AM  Motley Fool]
▶ Life Storage reports 4Q results   [Feb-15-17 06:14PM  AP]
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