In this article, we will take a look at the 5 best warehouse and self-storage stocks to buy. For a more comprehensive analysis of the storage industry, go directly to the 12 Best Warehouse and Self Storage Stocks to Buy.
5. Life Storage, Inc. (NYSE:LSI)
Number of Hedge Fund Holders: 21
The fifth stock on our list of the top 5 warehouse and self storage stocks to buy is Life Storage, Inc. (NYSE:LSI), which is a New York-based REIT investing in self storage units. The company owns 67 million square feet of rentable space across 34 states, with 1000 storage units. Before 2017, Life Storage, Inc. (NYSE:LSI) operated under the name Uncle Bob’s Self Storage, but it later rebranded to reflect its customer-focused approach, progressive growth, and use of intelligent technology for sustainable self storage solutions.
Of the 873 elite funds tracked by Insider Monkey, 21 were long Life Storage, Inc. (NYSE:LSI) at the end of June, with reported stakes worth $261.5 million, down from 26 in the previous quarter.
Life Storage, Inc. (NYSE:LSI) reported earnings on August 3, with an actual FFO of $1.20, beating analysts’ consensus estimates by $0.06. The revenue for the company was $187.26 million, exceeding forecasted revenue by $8.97 million.
On October 7, Berenberg analyst Keegan Carl initiated coverage of Life Storage, Inc. (NYSE:LSI)’s stock with a Buy rating, announcing a price target of $143. Life Storage, Inc. (NYSE:LSI) announced an increase of 16% in quarterly common stock dividend on October 1. The new dividend paid to stakeholders would be $0.86 per share, up from $0.74. This will result in an annual dividend yield of 3%. Life Storage, Inc. (NYSE:LSI) CEO, Joe Saffire, stated that they were able to increase the dividend due to strong fundamentals of the firm, a powerful financial outlook for the future, and strong predicted cash flow.