Life Storage (LSI) Tops Q4 EPS by 10c

Life Storage (NYSE: LSI) reported Q4 EPS of $0.93, $0.10 better than the analyst estimate of $0.83.

• Generated net income attributable to common shareholders of $43.5 million, or $0.93 per fully diluted common share.
• Achieved adjusted funds from operations (“FFO”)(1) per fully diluted common share of $1.44, a 4.3% increase over the same period in 2018.
• Increased same store net operating income ("NOI")(2) by 4.2% and same store revenue by 2.6% year-over-year.
• Grew management and acquisition fees by 38.7%.
• Acquired two properties for $37.5 million in the greater New York City market.
• Acquired a 20% minority interest in five Florida stores that were previously part of the Company’s third-party management portfolio.
• Added 22 stores to the Company’s third-party management platform, bringing total managed stores at the end of the fourth quarter to 297.

For earnings history and earnings-related data on Life Storage (LSI) click here.

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