Welcome to our dedicated page for Global Self Storage news (Ticker: SELF), a resource for investors and traders seeking the latest updates and insights on Global Self Storage stock.
Global Self Storage, Inc. reports news as a self-administered and self-managed REIT focused on self-storage properties. The company owns, operates, manages, acquires, develops and redevelops facilities designed for residential and commercial storage customers, with properties in Connecticut, Illinois, Indiana, New York, Ohio, Pennsylvania, South Carolina and Oklahoma.
Recurring updates cover quarterly and annual operating results, same-store revenue, net operating income, occupancy, tenant duration, FFO and AFFO measures, and cash dividend declarations. Company announcements also discuss revenue rate management, customer service, expense control, acquisition funding, joint ventures and expansion projects within its self-storage portfolio.
Global Self Storage (NASDAQ: SELF) has declared a cash dividend of $0.065 per common share for the third quarter of 2020. The dividend is payable on September 30, 2020, to stockholders of record as of September 15, 2020. This highlights the company's commitment to returning value to its shareholders amidst ongoing challenges in the storage industry. Global Self Storage operates 13 self-storage properties across various states, providing secure and accessible storage options for both residential and commercial customers.
Global Self Storage reported a 4% revenue increase in Q2 2020, totaling $2.2 million. A net loss of $22,000 occurred, with funds from operations (FFO) at $508,000 or $0.05 per diluted share. Despite the pandemic's impact, same-store net operating income grew 9.1% to $1.1 million. The company maintained its quarterly dividend of $0.065 per share. Total capital resources stood at approximately $9.3 million, ensuring operational flexibility amidst ongoing COVID-19 challenges.
Global Self Storage, Inc. (NASDAQ: SELF) reported a 4% revenue increase to $2.2 million in Q2 2020, despite a net loss of $22,000. Funds from operations (FFO) were $508,000, and adjusted FFO (AFFO) reached $545,000. Same-store revenues fell 1.3% to $1.8 million, while same-store net operating income rose 9.1% to $1.1 million, driven by a 14% decrease in operating costs. The company maintained its dividend of $0.065 per share and reported capital resources of $9.3 million. However, concerns linger about the impacts of COVID-19 on future operations and revenues.