Global Self Storage Inc Stock Price, News & Analysis

Global Self Storage reported a strong performance for Q2 2021, with total revenues rising 15.2% to a record $2.6 million. Net income reached $0.9 million or $0.09 per diluted share, compared to a loss in Q2 2020. Funds from operations (FFO) increased 52.1% to $773,000, while adjusted FFO (AFFO) rose 52.9% to $833,000. Same-store occupancy reached 96.3%, up from 92.9% a year ago. The company raised $6.9 million through a public offering, enhancing its capital resources for future growth initiatives.

Global Self Storage (NASDAQ: SELF) will showcase its Global MaxManagement platform at the Inside Self Storage World Expo from July 13-16, 2021, in Las Vegas. This innovative management platform aims to enhance the performance of independent self-storage property owners by providing strategies for staffing, budgeting, and marketing. The company has reported strong lease-up performance and increased revenues in Q1 2021, indicating robust market positioning. Attendees are encouraged to learn more at booth #1222 about how the platform can maximize their business value.

Global Self Storage (NASDAQ:SELF) has enhanced its financial position by extending its revolving credit facility with The Huntington National Bank. The principal amount available has increased from $10 million to $15 million, with a three-year maturity and interest tied to one-month LIBOR plus 3.00%. This extension, combined with a recent equity offering, boosts the company's capital resources to approximately $21.0 million. The company aims to leverage this liquidity for growth opportunities and joint ventures to enhance shareholder value.

Global Self Storage (NASDAQ:SELF) announced that underwriters exercised an option to purchase an additional 168,224 shares in its latest public offering, raising total shares sold to 1,289,720. The public offering price was set at $5.35, resulting in gross proceeds of approximately $6.9 million before expenses. EF Hutton served as the sole book-running manager for this offering. The offering was conducted under a shelf registration statement that became effective in December 2018, allowing the company to efficiently access capital markets.

Global Self Storage has announced a public offering of 1,121,496 shares of its common stock, priced at $5.35 per share, aimed at raising approximately $6.0 million in gross proceeds. The offering, managed by EF Hutton, is expected to close around June 25, 2021. The funds will be utilized for acquisitions, expansions of existing properties, and general corporate purposes. Additionally, the underwriters have been granted a 45-day option to purchase an extra 168,224 shares. The offering is registered under Form S-3 with the SEC.

Global Self Storage (NASDAQ:SELF) has launched a public offering of its common stock. All shares are being offered by the company, with an additional option for underwriters to purchase 15% more shares within 45 days. The offering is subject to market conditions and is backed by a shelf registration statement effective since December 7, 2018. EF Hutton is the sole book-running manager for this offering. Investors should consult the preliminary prospectus for more details, as the offering does not constitute a sale in jurisdictions where it is not registered.

Global Self Storage (NASDAQ: SELF) has announced a cash dividend of $0.065 per common share for the second quarter of 2021, payable on June 30, 2021, to stockholders of record as of June 15, 2021. This self-administered REIT operates 13 self-storage properties across various states, focusing on affordable and secure storage solutions for both residential and commercial customers. The declaration reflects the company’s ongoing commitment to return value to its shareholders amidst current market conditions.

Global Self Storage reported strong Q1 2021 results, with total revenues rising 9.0% to $2.4 million and net income of $411,000 compared to a loss of $356,000 in Q1 2020. Funds from operations (FFO) surged 72.1% to $602,000, while adjusted FFO (AFFO) increased 63.2% to $634,000. Same-store occupancy reached a record 96.1%, up from 91.4% a year ago. The company maintained a quarterly dividend of $0.065 per share and has strong capital resources of approximately $8.9 million. Management expressed confidence in continuing growth through expansions and strategic acquisitions.

Global Self Storage reported strong financial results for Q4 and the full year 2020, with total revenues reaching $2.4 million in Q4, a 6.8% increase year-over-year. Net income rose to $316,000, or $0.03 per diluted share. Full-year revenues also increased by 6.1% to $9.2 million. Notably, same-store occupancy improved to 95.1%, up 340 basis points from 2019. The company maintained a quarterly dividend of $0.065 per share. Challenges from the COVID-19 pandemic were effectively managed, as evidenced by consistent rent collections and a focus on digital marketing strategies.