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LSI on NYSE

Life Storage

Real estate investment trust headquartered in Williamsville, NY

Life Storage, Inc. (formerly Sovran Self Storage and Uncle Bob's Self Storage) was a real estate investment trust headquartered in Williamsville, New York, that invested in self storage units. In July 2023, the company was acquired by Extra Space Storage.3 Its shares trade on NYSE under the symbol LSI.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1985Founded1

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  • TickerLSI on NYSE1
  • Industryreal estate investment trust, self storage1
  • HeadquartersWilliamsville1
  • Websitewww.lifestorage.com
  • Incorporated inMD5
  • Business address6467 Main St, Williamsville, Ny 142215
  • Filer categoryLarge accelerated filer5
  • Legal formStock Corporation4
  • LEIW9EE01AFDDF9DQCQZC684
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O THE CORPORATION TRUST, INCORPORATED, 21093 Lutherville-Timonium, United States4
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D041215054

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Life Storage, Inc. (formerly Sovran Self Storage and Uncle Bob's Self Storage) was a real estate investment trust headquartered in Williamsville, New York, that invested in self storage units. In July 2023, the company was acquired by Extra Space Storage.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

44.8%Operating margin7
34.5%Net margin7
31.7%Revenue growth, 20227
9.9%Return on equity7
0.94×Debt to equity7

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs55¢$570.8M
  • Interest11¢$109.2M
  • Profit34¢$358.1M

Out of $1.0B in revenue.7

Where each dollar of operating cash went, fiscal 2022

  • Dividends paid60¢$350.9M
  • Kept or used elsewhere40¢$235.9M

Out of $586.9M of cash from operations.7

Financial statements

Revenue89107$1.0B in 2022+124% since 2016
0$500.0M$1.0B$1.5B2016: $462.6M$462.6M20162017: $44.4M$44.4M2017−90%2018: $48.4M$48.4M2018+9%2019: $64.0M$64.0M2019+32%2020: $77.2M$77.2M2020+21%2021: $788.6M$788.6M2021+921%2022: $1.0B$1.0B2022+32%
Operating income8910117$464.9M in 2022+242% since 2016
0$200.0M$400.0M$600.0M2016: $135.7M$135.7M20162017: $167.8M$167.8M2017+24%2018: $274.1M$274.1M2018+63%2019: $331.6M$331.6M2019+21%2020: $233.5M$233.5M2020−30%2021: $332.4M$332.4M2021+42%2022: $464.9M$464.9M2022+40%
Net income8910117$358.1M in 2022+320% since 2016
0$100.0M$200.0M$300.0M$400.0M2016: $85.2M$85.2M20162017: $96.4M$96.4M2017+13%2018: $206.6M$206.6M2018+114%2019: $258.7M$258.7M2019+25%2020: $151.6M$151.6M2020−41%2021: $249.3M$249.3M2021+64%2022: $358.1M$358.1M2022+44%
Fiscal year2016201720182019202020212022
Revenue$462.6M8$44.4M9$48.4M10$64.0M10$77.2M10$788.6M7$1.0B7
Operating expenses$456.1M7$578.9M7
Operating income$135.7M8$167.8M9$274.1M10$331.6M11$233.5M7$332.4M7$464.9M7
Interest$47.2M8$74.4M9$70.7M10$76.4M11$86.0M7$86.8M7$109.2M7
Income tax$400.0K14
Net income$85.2M8$96.4M9$206.6M10$258.7M11$151.6M7$249.3M7$358.1M7
Earnings per share$1.978$2.089$2.9610$3.7011$2.137$3.187$4.257
Earnings per share (diluted)$1.968$2.079$2.9610$3.7011$2.137$3.177$4.227
Shares (weighted, basic)78.4M shares784.3M shares7
Shares (weighted, diluted)78.6M shares784.9M shares7

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Corporate structure

Life Storage sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Life Storage

  • Life Storage Williamsville, New York, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Life Storage reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$1.3B7 Dec 31, 2022$1.2B7 Dec 31, 2021+10.2%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$7.0B7 Dec 31, 2022$6.1B7 Dec 31, 2021+15.1%
Real estate investments, at cost$8.2B7 Dec 31, 2022$7.1B7 Dec 31, 2021+15.3%
Real estate accumulated depreciation$1.2B7 Dec 31, 2022$1.0B7 Dec 31, 2021+16.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$24.4M7 Dec 31, 2022$171.9M7 Dec 31, 2021−85.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Trademarks and trade names (indefinite-lived)$16.5M7 Dec 31, 2022$16.5M7 Dec 31, 20210%
Finite-lived intangibles, gross$118.2M7 Dec 31, 2022$107.8M7 Dec 31, 2021+9.7%
Accumulated amortization$114.0M7 Dec 31, 2022$93.8M7 Dec 31, 2021+21.5%
Finite-lived intangibles, net$4.2M7 Dec 31, 2022$14.0M7 Dec 31, 2021−69.8%

The story

The company was founded as a financial planning firm in Buffalo, New York in 1982. In 1985, the company entered the self-storage industry by opening its first facility in Florida, accumulating around 30 facilities along the East Coast of the United States over the next three years.

During the next decade, the company acquired 62 self-storage facilities in the United States, and rebranded each one to "Uncle Bob's Self Storage" under the leadership of former CEO and Executive Chairman, Robert J. Attea. In 1995, the company became a public company through an initial public offering. By the end of 1996, the company operated 111 self-storage facilities in 15 states along the East Coast and Texas. It grew to 222 facilities by 1999, all of which used "Uncle Bob's" name. Five years later, the company operated facilities in 21 states.

In 2012, David Rogers, the former CFO, was appointed CEO, replacing Robert J. Attea, who remained Executive Chairman. As of November 2013, the company operated 471 facilities in 25 states.

In July 2016, the company acquired Life Storage LP for $1.3 billion, giving it its first properties in Northern California and Las Vegas.

In August 2016, the company rebranded its facilities from "Uncle Bob's Self Storage" to "Life Storage" and changed its name.

In 2019, Joseph Saffire replaced David Rogers as the CEO of the company.

In December 2021, the company formed a joint venture with Heitman LLC to invest in self storage properties.

In July 2023, the company was acquired by Extra Space Storage for $12.7 billion after it outbid an $11 billion offer from Public Storage.

Read the full text

Small property acquisitions

In 2014, the company made 2 small portfolio acquisitions.

In 2016 and 2017, the company acquired properties in Wisconsin, Arizona, Nevada, and Tennessee.

In 2019, the company acquired a property in Tampa and sold properties in Greensboro, North Carolina.

From Wikipedia’s article on Life Storage, shared under CC BY-SA 4.0.6

Leadership

Who has led Life Storage, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Robert J. Attea2006–2011
  2. David L. Rogers2012–2019
  3. Joseph Saffire2019–2023

Chair

  1. Robert J. Attea2006–2017

President

  1. Kenneth F. Myszka2015–2018

Chief financial officer

  1. David L. Rogers2006–2011
  2. Andrew J. Gregoire2012–2022
  3. Alexander Gress2023
  4. David P. Dodman2023

Chief operating officer

  1. Kenneth F. Myszka2006–2014
  2. Edward F. Killeen2015–2021
  3. David P. Dodman2022–2023
1990200020102020
Board members and other officers (18)

Products and brands

  • self storage

Listed on Wikidata.1

Former names

  • SOVRAN SELF STORAGE INCSep 5, 1996 to Aug 11, 20165

Timeline

  1. Jul 20, 20238-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights42
  2. Jul 18, 20238-K Entered a material agreement; Shareholder vote; Other events43
  3. Jul 11, 20238-K Other events44
  4. Jul 11, 20238-K Executive or director change45
  5. Jul 2023Dissolved Dissolved1
  6. May 24, 20238-K Shareholder vote46
  7. May 19, 20238-K Entered a material agreement47
  8. May 2, 20238-K Results of operations48
  9. Apr 3, 20238-K Entered a material agreement; Bylaws or fiscal year changed; Other events49
  10. Mar 17, 20238-K Executive or director change50
  11. Feb 24, 20238-K Regulation FD disclosure51
  12. Feb 23, 20238-K Results of operations52
  13. Feb 21, 20238-K Regulation FD disclosure53
  14. Dec 19, 2019New chief executive Joseph Saffire becomes CEO16
  15. Mar 15, 2012New chief executive David L. Rogers becomes CEO17
  16. Apr 3, 2006New chief executive Robert J. Attea becomes CEO18
  17. 1985Founded Founded1

Calendar

When it reported results

  1. May 2, 2023Reported quarterly or annual results48
  2. Feb 23, 2023Reported quarterly or annual results52
  3. Nov 2, 2022Reported quarterly or annual results54
  4. Aug 3, 2022Reported quarterly or annual results55
  5. May 4, 2022Reported quarterly or annual results56
  6. Feb 24, 2022Reported quarterly or annual results57
  7. Nov 2, 2021Reported quarterly or annual results58

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

137 filings to the SEC since October 2021: 2 annual reports, 5 quarterly reports, 26 major events, 54 insider forms, 9 large holders, 41 other. The latest 20:

  1. Jul 31, 202315-12G EDGAR
  2. Jul 31, 202315-12G EDGAR
  3. Jul 31, 202315-12G EDGAR
  4. Jul 31, 202315-12G EDGAR
  5. Jul 21, 2023EFFECT EDGAR
  6. Jul 21, 2023EFFECT EDGAR
  7. Jul 21, 2023EFFECT EDGAR
  8. Jul 21, 2023EFFECT EDGAR
  9. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  10. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  11. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  12. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  13. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  14. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  15. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  16. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  17. Jul 20, 20234 PRIMARY DOCUMENT EDGAR
  18. Jul 20, 2023S-8 POS EDGAR
  19. Jul 20, 2023S-8 POS EDGAR
  20. Jul 20, 2023S-8 POS EDGAR

The 137 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

13 open-market trades by officers, directors and large owners since October 2021: 0 buys and 13 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 15, 2023Rusmisel Stephen RDirectorSale2,500$129.92$324.8KForm 4
Jun 7, 2023Saffire JosephCEOSale5,036$131.03$659.9KForm 4
Jun 7, 2023Havener Arthur L JrDirectorSale2,625$127.76$335.4KForm 4
Dec 20, 2022Saffire JosephCEOSale6,130$99.73$611.3KForm 4
Aug 9, 2022Saffire JosephCEOSale5,044$131.22$661.9KForm 4
Mar 18, 2022Rusmisel Stephen RDirectorSale2,500$135.03$337.6KForm 4
Mar 17, 2022Saffire JosephCEOSale4,000$134.54$538.2KForm 4
Mar 14, 2022Gregoire Andrew JCFOSale7,000$130.29$912.0KForm 4
Mar 11, 2022Saffire JosephCEOSale9,000$130.95$1.2MForm 4
Dec 20, 2021Saffire JosephCEOSale4,000$146.39$585.6KForm 4
Dec 6, 2021KILLEEN EDWARD FCOOSale15,000$138.17$2.1MForm 4
Nov 29, 2021Gregoire Andrew JCFOSale7,500$134.66$1.0MForm 4
Nov 16, 2021ROGERS DAVID LDirectorSale25,000$131.18$3.3MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 12, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Life Storage is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLIFE STORAGE, INC.2
  • CIK0000944314
  • Employer ID (EIN)16-11940432
  • Filer statusLarge accelerated filer2
  • Incorporated inMaryland2
  • Fiscal year endsDecember 312
  • Industry code (SIC)6798 Real Estate Investment Trusts2
  • Business address6467 Main St, Williamsville, NY 142212
  • Phone71663318502
  • Shares outstanding85,089,732 as of Apr 26, 202313
  • Public float$9.4B as of Jun 30, 20227
  • On EDGAR sinceFeb 14, 19962
  • Filings1,217 in all: 4 (530), 8-K (239), SC 13G/A (87), 10-Q (82), SC 13G (30), 425 (28), 10-K (27), DEF 14A (27)2
    All 39 form types

    424B5 (26), 3 (14), UPLOAD (10), 424B2 (8), S-8 POS (8), 424B3 (7), S-3 (7), S-3/A (7), S-8 (7), 4/A (6), 5 (6), DEFA14A (6), S-3ASR (6), 8-K/A (5), CORRESP (5), FWP (5), 10-K/A (4), 10-Q/A (4), EFFECT (4), POS AM (4), PRE 14A (3), 144 (2), 15-12G (2), 8-A12B (2), 8-A12B/A (2), ARS (2), 25 (1), 25-NSE (1), DEFM14A (1), POSASR (1), S-3D (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2023
    Quarterly report (10-Q) May 3, 2023
    Proxy statement (DEF 14A) Apr 13, 2023
    Latest 8-K (8-K) Jul 20, 2023

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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