Business
Global Self Storage Reports First Quarter 2025 Results
Peer Leading Growth in Same-Store Revenues and Net Operating Income Driven by Operational Excellence MILLBROOK, NY / ACCESS Newswire / May 9, 2025 /Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns, operates, manages, ...
About this update from Global Self Storage, Inc.
[{"type":"text","content":"Peer Leading Growth in Same-Store Revenues and Net Operating Income Driven by Operational Excellence","length":100,"tagName":"p"},{"type":"text","content":"MILLBROOK, NY / ACCESS Newswire / May 9, 2025 / 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 first quarter ended March 31, 2025. All comparisons are to the same year-ago period unless otherwise noted.","length":331,"tagName":"p"},{"type":"text","content":"Q1 2025 Highlights","length":18,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenues increased 3.0% to $3.1 million.","length":46,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income increased to $555,000 or $0.05 per diluted share from $266,000 or $0.02 per diluted share.","length":101,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store revenues increased 3.0% to $3.1 million.","length":51,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store cost of operations decreased 1.8% to $1.2 million.","length":61,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store net operating income (NOI) increased 6.3% to $1.9 million (see definition of this and other non-GAAP measures and their reconciliation to GAAP, below).","length":162,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store occupancy at March 31, 2025 increased 80 basis points to 92.1% from 91.3% at March 31, 2024.","length":103,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store average tenant duration of stay at March 31, 2025 was a record 3.5 years, compared to 3.3 years at March 31, 2024.","length":125,"tagName":"p"}]},{"val":[{"type":"text","content":"Funds from operations (FFO), a non-GAAP measure, increased 15.0% to $975,000 or $0.09 per diluted share.","length":104,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted FFO (AFFO), a non-GAAP measure, increased 16.8% to $1.1 million or $0.10 per diluted share.","length":100,"tagName":"p"}]},{"val":[{"type":"text","content":"Maintained and covered quarterly dividend of $0.0725 per common share.","length":70,"tagName":"p"}]},{"val":[{"type":"text","content":"Capital resources at March 31, 2025 totaled approximately $24.9 million, comprised of $7.3 million in cash, cash equivalents and restricted cas...