Global Self Storage Reports Full Year 2025 Results

Rhea-AI Summary

Global Self Storage (NASDAQ:SELF) reported full year 2025 results with record total revenues of $12.7M, record same-store revenues of $12.6M and record same-store NOI of $7.8M.

Net income was $2.0M ($0.18 diluted). FFO was $4.0M ($0.36 diluted) and AFFO was $4.4M ($0.39 diluted). Capital resources totaled approximately $24.5M and the annual dividend was maintained at $0.29 per share.

Positive

• Record total revenues of $12.7M for 2025
• Record same-store NOI of $7.8M for 2025
• Capital resources of approximately $24.5M at year-end

Negative

• Quarterly FFO decline of 10.1% to $1.0M in Q4 2025
• Same-store NOI decreased 4.1% in Q4 2025 to $1.9M

News Market Reaction – SELF

-0.78%

1 alert

-0.78% News Effect

On the day this news was published, SELF declined 0.78%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q4 2025 revenues: $3.2 million Full year 2025 revenues: $12.7 million Full year 2025 net income: $2.0 million ($0.18 diluted) +5 more

8 metrics

Q4 2025 revenues $3.2 million Total revenues, down 0.9% year-over-year

Full year 2025 revenues $12.7 million Total revenues, up 1.4% year-over-year and a record

Full year 2025 net income $2.0 million ($0.18 diluted) Down from $2.1 million ($0.19 diluted) in 2024

Full year 2025 FFO $4.0 million ($0.36 diluted) Increased 2.7% from $3.9 million ($0.35) in 2024

Full year 2025 AFFO $4.4 million ($0.39 diluted) Increased 3.4% from $4.3 million ($0.38) in 2024

Same-store occupancy 93.0% Year-end 2025, described as sector-leading

Capital resources $24.5 million As of December 31, 2025 (cash, securities, and credit facility)

Dividend rate $0.0725 quarterly ($0.29 annualized) Maintained and covered for 2025 and Q1 2026

Market Reality Check

Price: $5.04 Vol: Volume 40,539 is 1.48x th...

normal vol

$5.04 Last Close

Volume Volume 40,539 is 1.48x the 20-day average of 27,451, indicating elevated pre-news activity. normal

Technical Price at $5.10 trades slightly below the 200-day MA of $5.14 and 13.41% below the 52-week high of $5.89.

Peers on Argus

SELF showed a small gain of 0.39% while key peers were mixed: FPI up 1.7%, LAND,...

1 Up

SELF showed a small gain of 0.39% while key peers were mixed: FPI up 1.7%, LAND, LOAN, PW, and SACH down between 0.19% and 6.8%. Only one peer (EPR) appeared in momentum scans, suggesting stock-specific trading.

Previous Earnings Reports

5 past events · Latest: Nov 07 (Neutral)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 07	Q3 2025 earnings	Neutral	+0.0%	Record Q3 revenues with lower net income and softer FFO/AFFO.
Aug 08	Q2 2025 earnings	Positive	-2.1%	Strong Q2 growth in revenue, net income, NOI, and FFO.
May 09	Q1 2025 earnings	Positive	+2.5%	Revenues up, net income more than doubled, strong NOI and FFO growth.
Mar 26	FY 2024 earnings	Positive	-1.4%	Record 2024 revenues and NOI with higher occupancy and FFO.
Nov 08	Q3 2024 earnings	Positive	+0.2%	Record Q3 revenues, sharply higher net income, and rising occupancy.

Pattern Detected

Across the last five earnings releases, SELF often saw modest reactions, with some strong reports followed by small declines, indicating occasional divergence between fundamentals and short-term price moves.

Recent Company History

Over the past five earnings cycles, Global Self Storage has repeatedly reported record or strong revenues, rising same-store NOI, and high occupancy. Q1–Q2 2025 featured solid growth in revenues, net income, FFO, and AFFO with peer-leading occupancy. Q3 2025 showed record revenues but softer net income and cash flows. Full year 2024 also delivered record revenues and NOI with stable tenant duration. Today’s full year 2025 report extends that pattern of incremental growth, high occupancy, and steady dividends.

Historical Comparison

-0.1% avg move · Over the last five earnings releases, average next-day move was about -0.15%, indicating that SELF’s...

earnings

-0.1%

Average Historical Move earnings

Over the last five earnings releases, average next-day move was about -0.15%, indicating that SELF’s earnings headlines have typically produced only modest price reactions.

Earnings releases since late 2024 show a steady progression: record revenues and NOI, rising same-store occupancy into the low-90s, longer tenant duration around 3.4–3.5 years, and consistently maintained dividends.

Market Pulse Summary

This announcement highlights record 2025 revenues of $12.7 million, same-store NOI of $7.8 million, ...

Analysis

This announcement highlights record 2025 revenues of $12.7 million, same-store NOI of $7.8 million, and sector-leading occupancy of 93.0%, alongside stable dividends totaling $0.29 per share. At the same time, net income dipped slightly to $2.0 million, and Q4 FFO and AFFO declined year-over-year. In context of prior earnings releases with modest average moves of -0.15%, investors may watch future trends in expenses, FFO/AFFO growth, and occupancy retention across the company’s portfolio.

Key Terms

real estate investment trust, net operating income, noi, funds from operations, +4 more

8 terms

real estate investment trust financial

"Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns..."

A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.

net operating income financial

"Same-store net operating income (NOI) decreased 4.1% to $1.9 million..."

Net operating income is the profit a business makes from its core operations after subtracting the costs directly related to running those operations, but before accounting for taxes, interest, or other expenses. It shows how efficiently a company is generating income from its main activities. Investors use this figure to assess the company's operational performance and profitability.

noi financial

"Same-store net operating income (NOI) decreased 4.1% to $1.9 million..."

Net operating income (NOI) is the total profit a business makes from its core operations, after subtracting expenses directly related to running the business but before accounting for taxes, interest, or investments. It shows how well the company’s main activities generate earnings and helps investors assess its financial health and profitability without the influence of external factors. Think of it as the money a store earns from sales minus the costs to keep it open.

funds from operations financial

"Funds from operations (FFO), a non-GAAP measure, decreased from $1.1 million..."

Funds from operations (FFO) measures the cash a real estate-focused company generates from its core property operations by adjusting net income to add back non-cash expenses like building depreciation and removing one-time gains or losses from property sales. Investors use FFO like a household’s monthly take-home pay—it's a clearer view of ongoing cash available to pay dividends, maintain properties and fund growth than raw accounting profit.

ffo financial

"Funds from operations (FFO), a non-GAAP measure, decreased from $1.1 million..."

Funds from operations (FFO) is a performance metric used mainly for real estate companies that measures the cash generated by their core rental and property-management activities, while removing accounting items such as building depreciation and one-time gains or losses from property sales. Investors rely on FFO to assess a real estate firm's ability to pay and sustain dividends and fund growth—similar to checking how much actual rent a landlord collects each month rather than paper profits.

adjusted ffo financial

"Adjusted FFO (AFFO), a non-GAAP measure, decreased from $1.2 million..."

Adjusted funds from operations (FFO) is a measure of how much cash a real estate investment generates from its regular business activities, excluding certain adjustments like accounting items or non-recurring expenses. It provides a clearer picture of the company's ongoing financial health, helping investors understand its true cash-generating ability. Think of it as measuring how much money a store makes from sales, after removing one-time costs or gains, to see its steady income flow.

basis points financial

"Same-store occupancy at December 31, 2025 increased 10 basis points to a sector-leading 93.0%..."

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

form 10-k regulatory

"Additional information ... is available on Form 10-K as filed with the U.S. Securities and Exchange Commission..."

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

AI-generated analysis. Not financial advice.

Record Total Revenues, Same-Store Revenues and Net Operating Income with Sector-Leading Occupancy Driven by Continued Operational Excellence

MILLBROOK, NY / ACCESS Newswire / March 25, 2026 / Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns, operates, manages, acquires, and redevelops self-storage properties,reported results for the fourth quarter and full year ended December 31, 2025. All comparisons are to the same year-ago period unless otherwise noted.

Q4 2025 Highlights

• Total revenues decreased 0.9% to $3.2 million.

• Net income increased to $323,000 or $0.03 per diluted share from $84,000 or $0.01 per diluted share.

• Same-store revenues decreased 0.9% to $3.1 million.

• Same-store cost of operations increased 4.5% to $1.2 million.

• Same-store net operating income (NOI)decreased 4.1% to $1.9 million (see definition of this and other non-GAAP measures and their reconciliation to GAAP, below).

• Same-store occupancy at December 31, 2025 increased 10 basis points to a sector-leading 93.0% from 92.9% at December 31, 2024.

• Same-store average tenant duration of stay at December 31, 2025 maintained record-level of approximately 3.5 years, and increased compared to approximately 3.4 years at December 31, 2024.

• Funds from operations (FFO), a non-GAAP measure, decreased from $1.1 million to $1.0 million or $0.08 per diluted share.

• Adjusted FFO (AFFO), a non-GAAP measure, decreased from $1.2 million to $1.1 million or $0.09 per diluted share.

• Maintained and covered quarterly dividend of $0.0725 per common share.

• Capital resources at December 31, 2025 totaled approximately $24.5 million, comprised of $7.5 million in cash, cash equivalents and restricted cash; $2.3 million in marketable securities; and $14.7 million available under the company's revolving credit facility.

Full Year 2025 Highlights

• Total revenues increased 1.4% to a record $12.7 million.

• Net income decreased to $2.0 million or $0.18 per diluted share from $2.1 million or $0.19 per diluted share.

• Same-store revenues increased 1.4% to a record $12.6 million.

• Same-store cost of operations increased 2.6% to $4.9 million.

• Same-store NOI increased 0.6% to a record $7.8 million.

• FFO increased 2.7% to $4.0 million or $0.36 per diluted share.

• AFFO increased 3.4% to $4.4 million or $0.39 per diluted share.

• Maintained and covered four quarterly dividends totaling $0.29 per common share.

Dividend

On March 2, 2026, the company declared a quarterly dividend of $0.0725 per share, consistent with the quarterly dividend for the year-ago period and previous quarter. The quarterly distribution represents an annualized dividend rate of $0.29 per share.

Company Objective

The objective of Global Self Storage is to increase value over time for the benefit of its stockholders. Toward this end, the company will continue to execute its strategic business plan, which includes funding acquisitions, either directly or through joint ventures, and expansion projects at its existing properties. The company's board of directors regularly reviews the strategic business plan, with emphasis on capital formation, debt versus equity ratios, dividend policy, use of capital and debt, FFO and AFFO performance, and optimal cash levels.

The management of Global Self Storage believes that the company's continued operational performance and capital resources position it well to continue executing its strategic business plan.

Management Commentary

"In 2025, we achieved record-high annual total revenues, same-store revenues, and net operating income with sector-leading same-store occupancy of 93% at year-end," said president and CEO of Global Self Storage, Mark C. Winmill. "In addition, our focus on expense control resulted in reduced corporate-level general and administrative expenses and a deceleration in the growth of store-level expenses.

"These results were driven by our continued operational excellence, including our internet and digital marketing initiatives. These initiatives during the year included targeted digital campaigns, enhanced search engine optimization, and improved website layout with video testimonials to reach prospective tenants more effectively. These marketing strategies have contributed to our sector-leading occupancy, continued record-high tenant retention, and increased customer satisfaction across our portfolio.

"Also contributing to our results were our customer service efforts-providing a clean, safe and hassle-free rental process-which continued to attract high quality, long-term tenants. These efforts played a key role in further building local brand loyalty, generating powerful referral and word-of-mouth market demand for our storage units and services.

"Our high level of tenant satisfaction is also evidenced by consistently strong customer reviews. During the year, we achieved and maintained an average rating exceeding 4.9 out of 5 stars, compared to 4.8 at the end of Q1 2025. Our tenants also tend to stay longer, with the same-store average tenant duration of stay increasing to about 3.5 years as of year-end, maintaining a record-level since September 30, 2025, and up from 3.4 years as of December 31, 2024.

"Our strong balance sheet, with approximately $24.5 million in capital resources, positions us well to execute our strategic business plan. This plan includes growth through acquisitions, joint ventures, and expansion in select markets that exhibit limited supply growth and less professional competition.

"As we look ahead, we remain confident that our professional management techniques will continue to optimize occupancy, revenue generation and NOI in our self-storage portfolio. We have seen and anticipate further gradual improvement of market fundamentals in the form of move-in rate stabilization and muted development of new supply in the markets where we operate.

"By following our strategic business plan, we are confident that we will continue driving increased value for stockholders through a focus on top-quality tenants, disciplined acquisition strategy, effective expense management, and a strong commitment to excellent customer service."

Q4 2025 Financial Summary

Total revenues decreased 0.9% to $3.2 million in the fourth quarter of 2025.

Total operating expenses increased 3.6% to $2.5 million compared to $2.4 million in the same year-ago period. The increase was primarily attributable to an increase of store operating expenses.

Operating income decreased 14.4% to $680,000, compared to $794,000 in the same period last year. The decrease was primarily due to an increase in store operating expenses.

Net income totaled $323,000 or $0.03 per diluted share from $84,000 or $0.01 per diluted share in the same year-ago period.

Capital resources as of December 31, 2025, totaled approximately $24.5 million, comprised of $7.5 million in cash, cash equivalents and restricted cash and $2.3 million in marketable securities, with $14.7 million available under the company's revolving credit facility.

Q4 2025 Same-Store Results

As of December 31, 2025, the company owned 12 same-store properties and managed a single third party owned property. There were no non-same-store properties.

For the fourth quarter of 2025, same-store revenues decreased 0.9% to $3.1 million compared to the same period last year.

Same-store cost of operations increased 4.5% to $1.24 million compared to $1.18 million in the same period last year. The increase was primarily due to increased expenses for employment costs, landscaping expenses and marketing expenses.

Same-store NOI decreased 4.1% to $1.9 million compared to $2.0 million in the same period last year. The decrease was primarily due to an increase in store operating expenses.

Same-store occupancy at December 31, 2025, increased 10 basis points to 93.0% from 92.9% at December 31, 2024.

Same-store average tenant duration of stay at December 31, 2025, was approximately 3.5 years, compared to approximately 3.4 years as of December 31, 2024.

Q4 2025 Operating Results

Net income in the fourth quarter of 2025 was $323,000 or $0.03 per diluted share compared to $84,000 or $0.01 per diluted share in the fourth quarter of 2024.

Property operations expenses increased to $1.24 million from $1.18 million in the same period last year.

General and administrative expenses increased to $831,000 from $800,000 in the same year-ago period.

Business development costs were zero for the quarter and the same year-ago period.

Interest expense increased to $207,000 from $205,000 in the same year-ago period.

FFO decreased 10.1% to $1.0 million or $0.08 per diluted share compared to FFO of $1.1 million or $0.10 per diluted share in the same period last year.

AFFO decreased 9.8% to $1.1 million or $0.09 per diluted share compared to AFFO of $1.2 million or $0.11 per diluted share in the same period last year.

Full Year 2025 Financial Summary

For the full year 2025, total revenues increased 1.4% to $12.7 million, compared to $12.5 million in 2024. This increase was due primarily to an increase in occupancy and existing tenant rates under the company's proprietary revenue rate management program.

Total operating expenses increased 1.1% to $9.7 million, compared to $9.6 million in 2024. The increase was primarily attributable to an increase in store-level operating expenses, including increased expenses for employment and utilities.

Operating income increased 2.3% to $3.0 million, as compared to $2.9 million in 2024. The increase was primarily due to increased rental income.

Net income was $2.0 million or $0.18 per diluted share, as compared to $2.1 million or $0.19 per diluted share in 2024.

Full Year 2025 Same-Store Results

For the full year of 2025, same-store revenues increased 1.4% to $12.6 million compared to $12.5 million in 2024. This increase was due primarily to an increase in occupancy and existing tenant rates under the company's proprietary revenue rate management program.

Same-store cost of operations increased 2.6% to $4.9 million compared to $4.7 million in 2024. This increase in same-store cost of operations was due primarily to increased expenses for employment and utilities.

Same-store NOI increased 0.6% to $7.8 million, compared to $7.7 million in 2024. The increase was primarily due to an increase in revenues.

For a reconciliation of net income to same-store NOI see, "Reconciliation of GAAP Net Income to Same-Store Net Operating Income," below.

Full Year 2025 Operating Results

Net income in the full year of 2025 was $2.0 million or $0.18 per diluted share, compared to $2.1 million or $0.19 per diluted share in 2024.

Property operations expenses increased to $4.9 million, as compared to $4.7 million in 2024.

General and administrative expenses decreased to $3.22 million, as compared to $3.26 million in 2024.

Business development costs increased to $22,286, as compared to $3,037 in 2024.

Interest expense decreased to $854,000 from $881,000 in 2024. This decrease was primarily attributable to lower principal balance outstanding.

FFO increased 2.7% to $4.0 million or $0.36 per diluted share, compared to FFO of $3.9 million or $0.35 per diluted share in 2024.

AFFO increased 3.4% to $4.4 million or $0.39 per diluted share, compared to AFFO of $4.3 million or $0.38 per diluted share in 2024.

Q4 2025 and Full Year FFO and AFFO (Unaudited)

		Three Months				Three Months				Twelve Months				Twelve Months
		Ended				Ended				Ended				Ended
		December 31, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Net income		$	322,824			$	84,406			$	2,038,451			$	2,123,743
Eliminate items excluded from FFO:
Unrealized loss on marketable equity securities			221,924				569,977				357,421				166,042
Depreciation and amortization			410,614				408,857				1,634,480				1,634,147
FFO attributable to common stockholders			955,362				1,063,240				4,030,352				3,923,932
Adjustments:
Compensation expense related to stock-based awards			106,431				114,222				350,333				332,358
Business development			-				-				22,286				3,037
AFFO attributable to common stockholders		$	1,061,793			$	1,177,462			$	4,402,971			$	4,259,327
Earnings per share attributable to common stockholders - basic		$	0.03			$	0.01			$	0.18			$	0.19
Earnings per share attributable to common stockholders - diluted		$	0.03			$	0.01			$	0.18			$	0.19
FFO per share - diluted		$	0.08			$	0.10			$	0.36			$	0.35
AFFO per share - diluted		$	0.09			$	0.11			$	0.39			$	0.38
Weighted average shares outstanding - basic			11,189,445				11,116,664				11,166,641				11,094,915
Weighted average shares outstanding - diluted			11,243,353				11,175,035				11,224,476				11,143,831

Additional Information

Additional information about the company's fourth quarter and full year of 2025 results, including financial statements and related notes, is available on Form 10-K as filed with the U.S. Securities and Exchange Commission and on the company's investor relations website.

About Global Self Storage

Global Self Storage is a self-administered and self-managed REIT that owns, operates, manages, acquires, and redevelops self-storage properties. The company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. Through its wholly owned subsidiaries, the company owns and/or manages 13 self-storage properties in Connecticut, Illinois, Indiana, New York, Ohio, Pennsylvania, South Carolina, and Oklahoma.

For more information, go to ir.globalselfstorage.us or visit the company's customer site at www.globalselfstorage.us. You can also follow Global Self Storage on X, LinkedIn and Facebook.

Non-GAAP Financial Measures

Funds from Operations ("FFO") and FFO per share are non-GAAP measures defined by the National Association of Real Estate Investment Trusts ("NAREIT") and are considered helpful measures of REIT performance by REITs and many REIT analysts. NAREIT defines FFO as a REIT's net income, excluding gains or losses from sales of property, and adding back real estate depreciation and amortization. The Company also excludes unrealized gains on marketable equity securities and gains relating to PPP loan forgiveness. FFO and FFO per share are not a substitute for net income or earnings per share. FFO is not a substitute for GAAP net cash flow in evaluating our liquidity or ability to pay dividends because it excludes financing activities presented on our statements of cash flows. In addition, other REITs may compute these measures differently, so comparisons among REITs may not be helpful. However, the Company believes that to further understand the performance of its stores, FFO should be considered along with the net income and cash flows reported in accordance with GAAP and as presented in the Company's financial statements.

Adjusted FFO ("AFFO") and AFFO per share are non-GAAP measures that represent FFO and FFO per share excluding the effects of stock-based compensation, business development, capital raising, and acquisition related costs and non-recurring items, which we believe are not indicative of the Company's operating results. AFFO and AFFO per share are not a substitute for net income or earnings per share. AFFO is not a substitute for GAAP net cash flow in evaluating our liquidity or ability to pay dividends because it excludes financing activities presented on our statements of cash flows. We present AFFO because we believe it is a helpful measure in understanding our results of operations insofar as we believe that the items noted above that are included in FFO, but excluded from AFFO, are not indicative of our ongoing operating results. We also believe that the analyst community considers our AFFO (or similar measures using different terminology) when evaluating us. Because other REITs or real estate companies may not compute AFFO in the same manner as we do, and may use different terminology, our computation of AFFO may not be comparable to AFFO reported by other REITs or real estate companies. However, the Company believes that to further understand the performance of its stores, AFFO should be considered along with the net income and cash flows reported in accordance with GAAP and as presented in the Company's financial statements.

We believe net operating income or "NOI" is a meaningful measure of operating performance because we utilize NOI in making decisions with respect to, among other things, capital allocations, determining current store values, evaluating store performance, and in comparing period-to-period and market-to-market store operating results. In addition, we believe the investment community utilizes NOI in determining operating performance and real estate values and does not consider depreciation expense because it is based upon historical cost. NOI is defined as net store earnings before general and administrative expenses, interest, taxes, depreciation, and amortization.

NOI is not a substitute for net income, net operating cash flow, or other related GAAP financial measures in evaluating our operating results.

Same-Store Self Storage Operations Definition

We consider our same-store portfolio to consist of only those stores owned and operated on a stabilized basis at the beginning and at the end of the applicable periods presented. We consider a store to be stabilized once it has achieved an occupancy rate that we believe, based on our assessment of market-specific data, is representative of similar self storage assets in the applicable market for a full year measured as of the most recent January 1 and has not been significantly damaged by natural disaster or undergone significant renovation or expansion. We believe that same-store results are useful to investors in evaluating our performance because they provide information relating to changes in store-level operating performance without taking into account the effects of acquisitions, dispositions or new ground-up developments. As of December 31, 2025, we owned twelve same-store properties and zero non-same-store properties. The Company believes that by providing same-store results from a stabilized pool of stores, with accompanying operating metrics including, but not limited to, variances in occupancy, rental revenue, operating expenses, NOI, etc., stockholders and potential investors are able to evaluate operating performance without the effects of non-stabilized occupancy levels, rent levels, expense levels, acquisitions or completed developments. Same-store results should not be used as a basis for future same-store performance or for the performance of the Company's stores as a whole.

Cautionary Note Regarding Forward Looking Statements

Certain information presented in this press release may contain "forward-looking statements" within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the company's plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, and other information that is not historical information. In some cases, forward-looking statements can be identified by terminology such as "believes," "plans," "intends," "expects," "estimates," "may," "will," "should," or "anticipates," or the negative of such terms or other comparable terminology, or by discussions of strategy. All forward-looking statements made by the company involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the company, which may cause the company's actual results to be materially different from those expressed or implied by such statements. The company may also make additional forward-looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by the company or on its behalf, are also expressly qualified by these cautionary statements. All forward-looking statements, including without limitation, the company's examination of historical operating trends and estimates of future earnings, are based upon the company's current expectations and various assumptions. The company's expectations, beliefs and projections are expressed in good faith and it believes there is a reasonable basis for them, but there can be no assurance that the company's expectations, beliefs and projections will result or be achieved. All forward-looking statements apply only as of the date made. Except as required by law, the company undertakes no obligation to publicly update or revise forward-looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events. The amount, nature, and/or frequency of dividends paid by the company may be changed at any time without notice.

Company Contact:
Thomas O'Malley
Chief Financial Officer
Global Self Storage
Tel (212) 785-0900, ext. 267
Email Contact

Investor Relations Contact:
Ron Both
Encore Investor Relations
Tel (949) 432-7557
Email Contact

GLOBAL SELF STORAGE, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)

		December 31, 2025				December 31, 2024
Assets
Real estate assets, net		$	52,617,566			$	53,925,409
Cash and cash equivalents			7,364,963				7,180,857
Restricted cash			106,444				29,204
Investments in securities			2,251,566				2,608,987
Accounts receivable			117,902				142,408
Prepaid expenses and other assets			802,382				719,351
Interest rate cap			120				18,717
Line of credit issuance costs, net			117,582				195,970
Goodwill			694,121				694,121
Total assets		$	64,072,646			$	65,515,024
Liabilities and stockholders' equity
Note payable, net		$	15,785,874			$	16,356,582
Accounts payable and accrued expenses			1,750,382				1,720,765
Total liabilities			17,536,256				18,077,347
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.01 par value: 50,000,000 shares authorized, no shares outstanding			-				-
Common stock, $0.01 par value: 450,000,000 shares authorized; 11,364,278 shares and 11,292,772 shares issued and outstanding at December 31, 2025 and 2024, respectively			113,643				112,927
Additional paid in capital			49,909,603				49,559,986
Accumulated deficit			(3,486,856	)			(2,235,236	)
Total stockholders' equity			46,536,390				47,437,677
Total liabilities and stockholders' equity		$	64,072,646			$	65,515,024

GLOBAL SELF STORAGE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited)

		Three Months Ended				Three Months Ended				Year Ended				Year Ended
		December 31, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Revenues
Rental income		$	3,034,559			$	3,057,181			$	12,196,698			$	12,024,552
Other property related income			106,015				111,210				434,804				435,167
Management fees and other income			18,318				18,535				73,743				70,561
Total revenues			3,158,892				3,186,926				12,705,245				12,530,280
Expenses
Property operations			1,237,031				1,183,763				4,864,402				4,739,995
General and administrative			830,919				799,972				3,222,726				3,258,773
Depreciation and amortization			410,614				408,857				1,634,480				1,634,147
Business development			-				-				22,286				3,037
Total expenses			2,478,564				2,392,592				9,743,894				9,635,952
Operating income			680,328				794,334				2,961,351				2,894,328
Other income (expense)
Dividend and interest income			71,169				65,171				288,573				276,201
Unrealized loss on marketable equity securities			(221,924	)			(569,977	)			(357,421	)			(166,042	)
Interest expense			(206,749	)			(205,122	)			(854,052	)			(880,744	)
Total other expense, net			(357,504	)			(709,928	)			(922,900	)			(770,585	)
Net income and comprehensive income		$	322,824			$	84,406			$	2,038,451			$	2,123,743
Earnings per share
Basic		$	0.03			$	0.01			$	0.18			$	0.19
Diluted		$	0.03			$	0.01			$	0.18			$	0.19
Weighted average shares outstanding
Basic			11,189,445				11,116,664				11,166,641				11,094,915
Diluted			11,243,353				11,175,035				11,224,476				11,143,831

Reconciliation of GAAP Net Income to Same-Store Net Operating Income

The following table presents a reconciliation of same-store net operating income to net income as presented on our consolidated statements of operations for the periods indicated (unaudited):

		For the Three Months Ended December 31,								For the Twelve Months Ended December 31,
		2025				2024				2025				2024
Net income		$	322,824			$	84,406			$	2,038,451			$	2,123,743
Adjustments:
Management fees and other income			(18,318	)			(18,535	)			(73,743	)			(70,561
General and administrative			830,919				799,972				3,222,726				3,258,773
Depreciation and amortization			410,614				408,857				1,634,480				1,634,147
Business development			-				-				22,286				3,037
Dividend and interest income			(71,169	)			(65,171	)			(288,573	)			(276,201
Unrealized loss on marketable equity securities			221,924				569,977				357,421				166,042
Interest expense			206,749				205,122				854,052				880,744
Total same-store net operating income		$	1,903,543			$	1,984,628			$	7,767,100			$	7,719,724

		For the Three Months Ended December 31,								For the Twelve Months Ended December 31,
		2025				2024				2025				2024
Same-store revenues		$	3,140,574			$	3,168,391			$	12,631,502			$	12,459,719
Same-store cost of operations		$	1,237,031			$	1,183,763			$	4,864,402			$	4,739,995
Total same-store net operating income		$	1,903,543			$	1,984,628			$	7,767,100			$	7,719,724

SOURCE: Global Self Storage

View the original press release on ACCESS Newswire

FAQ

What were Global Self Storage (SELF) total revenues for full year 2025?

Total revenues for 2025 were $12.7 million, a record for the company. According to the company, this reflected higher occupancy and existing tenant rate increases under its revenue management program.

How much capital resources did Global Self Storage (SELF) report at December 31, 2025?

The company reported approximately $24.5 million in capital resources at year-end. According to the company, this included $7.5M cash, $2.3M marketable securities and $14.7M available on its revolver.

What was Global Self Storage's (SELF) FFO and FFO per share for 2025?

FFO for 2025 was $4.0 million, or $0.36 per diluted share. According to the company, this represented a 2.7% increase versus 2024 driven by higher rental income.

Did Global Self Storage (SELF) change its dividend after 2025 results?

No; the company maintained its quarterly dividend of $0.0725 per share, totaling an annualized $0.29. According to the company, the dividend remained covered and consistent with prior periods.

How did same-store occupancy and tenant stay trend for Global Self Storage (SELF) in 2025?

Same-store occupancy ended 2025 at a sector-leading 93.0% and average tenant stay was about 3.5 years. According to the company, improved retention and marketing supported these metrics.

Why did Global Self Storage (SELF) FFO fall in Q4 2025 despite full-year gains?

Q4 FFO fell to $1.0M, a 10.1% decline versus Q4 2024. According to the company, higher store operating expenses and increased quarter-over-quarter costs weighed on quarterly FFO.