Global Self Storage Inc Stock Price, News & Analysis

Global Self Storage (NASDAQ:SELF) reported its Q4 and full year 2024 results, demonstrating strong performance in key metrics. Q4 2024 showed total revenues up 7.1% to $3.2 million, with net income at $84,000 ($0.01 per share). Same-store occupancy increased 360 basis points to 92.9%, while FFO grew 14% to $1.1 million.

For full year 2024, the company achieved record total revenues of $12.5 million (up 2.8%), with net income of $2.1 million ($0.19 per share). Same-store NOI increased 2.1% to a record $7.7 million. The company maintained its quarterly dividend of $0.0725 per share.

The company's capital resources totaled $24.8 million, including $7.2 million in cash and equivalents, $2.6 million in marketable securities, and a $15 million revolving credit facility. The average tenant duration remained stable at approximately 3.4 years.

Global Self Storage (NASDAQ:SELF) has announced a quarterly cash dividend of $0.0725 per common share for the first quarter of 2025. The dividend will be paid on March 31, 2025, to stockholders of record as of March 17, 2025.

The company, a real estate investment trust focused on self-storage properties, continues to execute its strategic business plan which includes funding acquisitions and expansion projects at existing properties. The board regularly reviews the strategic plan, focusing on capital formation, debt-equity ratios, dividend policy, FFO and AFFO performance, and optimal cash levels.

Global Self Storage (NASDAQ:SELF) has announced a quarterly cash dividend of $0.0725 per common share for Q4 2024, payable on December 30, 2024, to stockholders of record as of December 16, 2024. The company aims to increase stockholder value through its strategic business plan, which includes funding acquisitions and expansion projects at existing properties. The board regularly reviews the strategic plan, focusing on capital formation, debt-equity ratios, dividend policy, and FFO/AFFO performance. Management believes the company is well-positioned to continue executing its strategic initiatives.

Global Self Storage (NASDAQ:SELF) reported strong Q3 2024 results with total revenues increasing 3.6% to a record $3.2 million. Net income surged 336% to $1.2 million ($0.10 per diluted share). Same-store metrics showed impressive growth with revenues up 3.6%, NOI increasing 6.3% to $2.0 million, and occupancy rising to 91.5%. The company maintained its quarterly dividend of $0.0725 per share. Capital resources totaled $25.1 million, including $6.9 million in cash and $15 million available under a revolving credit facility. The average tenant duration increased to 3.4 years, demonstrating strong customer retention.

Global Self Storage (NASDAQ:SELF), a real estate investment trust specializing in self-storage properties, has declared a cash dividend of $0.0725 per common share for the third quarter of 2024. The dividend is payable on September 30, 2024, to stockholders of record as of September 17, 2024. The company's objective is to increase value for stockholders by executing its strategic business plan, which includes funding acquisitions and expansion projects. Global Self Storage's board regularly reviews the plan, focusing on capital formation, debt-equity ratios, dividend policy, and financial performance metrics. Management believes the company is well-positioned to continue executing its strategic plan based on its operational performance and capital resources.

Global Self Storage (NASDAQ:SELF) reported Q2 2024 results with total revenues increasing 0.7% to $3.1 million and net income rising 2.3% to $592,000 or $0.05 per diluted share. Same-store revenues grew 0.9% to $3.1 million, while same-store net operating income (NOI) decreased 2.7% to $1.9 million. The company achieved peer-leading same-store occupancy growth of 2.5%, reaching 93.0% at quarter-end and further improving to 94.2% by July 31, 2024. Funds from operations (FFO) decreased 16.4% to $0.9 million or $0.08 per diluted share, and adjusted FFO (AFFO) declined 13.2% to $1.0 million or $0.09 per diluted share. Global Self Storage maintained its quarterly dividend of $0.0725 per common share and extended its $15 million revolving credit facility for three years with an option for a fourth year.

Global Self Storage (NASDAQ:SELF) has extended its $15 million revolving credit facility with The Huntington National Bank for another three years, with a further one-year extension option. The facility bears interest at one-month SOFR plus 3.00%. Secured by properties in Millbrook and West Henrietta, NY; Lima, OH; Fishers, IN; and Clinton, CT, this credit line supports the company's growth strategies. CEO Mark C. Winmill emphasized their strong balance sheet and operational performance, focusing on property acquisitions, joint ventures, and expansions. The strategic plan aims to optimize occupancy, revenue, and NOI to build long-term shareholder value.

Global Self Storage (NASDAQ:SELF), a real estate investment trust, announced a cash dividend of $0.0725 per common share for Q2 2024. This dividend will be payable on June 28, 2024, to shareholders of record as of June 17, 2024.

The company aims to increase shareholder value through strategic acquisitions and expansion projects. Its board regularly reviews performance metrics such as capital formation, debt-equity ratios, and dividend policies. Management believes that the company's operational performance and capital resources support continued strategic growth.