- Self storage REIT Life Storage ( NYSE: LSI ) said it expects low double digit growth in 2024 earnings, with the 2024 FFO per share estimated to grow by 9% to 13%.
- The consensus revenue estimate stands at $7.26 (+5.59% Y/Y) and consensus revenue estimate is $1.18B (+6.82% Y/Y).
- The low double-digit growth estimates consider continued same-store growth, 2022 mature acquisition contribution, positive impact of lease-up assets, growth in fee revenue from third-party management and joint ventures, and redevelopments.
- The company had earlier rejected an ~$11B unsolicited acquisition proposal from the rival Public Storage ( PSA ), saying the offer "significantly undervalues" the company as well as its prospects for future growth.
- Source: Press Release
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Life Storage expects low double digit growth in 2024