Long Position on LSI @ $146.25 on 1/4/2022 (Fundamentals)

Life Storage, Inc. (LSI) 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 consistently provides responsive service to approximately 500,000 customers, making it a leader in the industry.

Please note, this stock reported earnings on Tuesday, February 1.

Life Storage reported 3rd Quarter September 2021 earnings of $1.37 per share on revenue of $208.3 million. The consensus earnings estimate was $1.28 per share on revenue of $183.3 million. Revenue grew 33.2% on a year-over-year basis.

The company said it expects fourth quarter funds from operations of $1.27 to $1.31 per share. The current consensus FFO estimate is $1.27 per share for the quarter ending December 31, 2021.

This stock should see an increase in share prices after an announcement after hours that the company is raising their dividend by 16% to $4 per share annually.

Entry Point: $146.25

Stop Loss: $140.00

Trading Range: $75.54 - $154.45

Target Price: $155.00

Position closed on 2/1/2022 at price of $140.00 with a -4.27% loss in 28 days.

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