false0000944314 0000944314 2020-06-02 2020-06-02 0000944314 lsi:LifeStorageLpMember 2020-06-02 2020-06-02
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
June 2, 2020
Date of Report (Date of Earliest Event Reported)
 
LIFE STORAGE, INC.
LIFE STORAGE LP
(Exact Name of Registrant as Specified in Its Charter)
 
         
Maryland
(Life Storage, Inc.)
 
1-13820
 
16-1194043
 
 
 
 
 
         
Delaware
(Life Storage LP)
 
0-24071
 
16-1481551
(State or Other Jurisdiction
Of Incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification Number)
 
 
 
 
 
6467 Main Street
Williamsville, New York 14221
(Address of Principal Executive Offices)
(716) 633-1850
(Registrants’ Telephone Number, Including Area Code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (
see
General Instruction A.2. below):
  Written Communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
 
 
  Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
 
 
 
 
 
  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
 
 
  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Securities registered pursuant to Section 12(b) of the Act:
Life Storage, Inc.:
         
Title of each class
 
Trading
Symbol(s)
 
Name of each exchange
on which registered
Common Stock, $.01 par value
 
LSI
 
New York Stock Exchange
 
 
 
 
 
Life Storage LP:
         
Title of each class
 
Trading
Symbol(s)
 
Name of each exchange
on which registered
 
 
 
 
 
 
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934 (§
240.12b-2
of this chapter).
Life Storage, Inc.:
Emerging growth company  
Life Storage LP:
Emerging growth company  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 
Life Storage, Inc.  
Life Storage LP  
 
 

Item 7.01.
Regulation FD Disclosure.
 
 
 
 
 
In connection with certain investor and analyst presentations that Life Storage, Inc. (the “Company”) intends to make, the Company will be disclosing certain information, in the form of information from a slide presentation. The slide presentation is attached as Exhibit 99.1 to this Current Report on Form
8-K.
This information may be amended or updated at any time and from time to time through another Current Report on Form
8-K,
a later filing, or other means. Except for the information set forth in Item 8.01, the information in this Current Report on Form
8-K
(including Exhibit 99.1) is furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This Current Report on Form
8-K
will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD
.
Item 8.01.
Other Matters.
 
 
 
 
 
On June 2, 2020, the Company provided the following preliminary portfolio operating statistics for May 2020: Same store occupancy at May 31, 2020 was 91.4% compared to 90.9% at May 31, 2019. Had auction processes not been curtailed due to the
COVID-19
global health crisis, same store occupancy would have been approximately 90.4% at May 31, 2020. Same store
move-ins
were 3% higher in May 2020 than in May 2019, while same store move-outs were 12% lower during the same time period. Discounts as a percent of same store revenue were higher in May 2020 than May 2019 by 140 basis points.
Item 9.01.
Financial Statements and Exhibits.
 
 
 
 
 
(d) Exhibits
         
 
99.1
   
 
 
 
 
 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrants have duly caused this Report to be signed on their behalf by the undersigned, thereunto duly authorized.
             
 
 
LIFE STORAGE, INC
.
             
Date: June 2, 2020
 
 
 
By
 
/s/ Andrew J. Gregoire
 
 
Name:
 
Andrew J. Gregoire
 
 
Title:
 
Chief Financial Officer
         
 
 
LIFE STORAGE LP
             
Date: June 2, 2020
 
 
By:
 
LIFE STORAGE HOLDINGS, INC., as General Partner
             
 
 
By
 
/s/ Andrew J. Gregoire
 
 
Name:
 
Andrew J. Gregoire
 
 
Title:
 
Chief Financial Officer