Business
Global Self Storage Reports Full Year 2024 Results
MILLBROOK, NY / ACCESS Newswire / March 26, 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 fourth quarter and full ...
About this update from Global Self Storage, Inc.
[{"type":"text","content":"MILLBROOK, NY / ACCESS Newswire / March 26, 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 fourth quarter and full year ended December 31, 2024. All comparisons are to the same year-ago period unless otherwise noted.","length":353,"tagName":"p"},{"type":"text","content":"Q4 2024 Highlights","length":18,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenues increased 7.1% to $3.2 million.","length":46,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income was $84,000 or $0.01 per diluted share.","length":50,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store revenues increased 7.0% to $3.2 million.","length":51,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store net operating income (NOI)increased 11.2% to $2.0 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 December 31, 2024 increased 360 basis points to 92.9% from 89.3% at December 31, 2023.","length":110,"tagName":"p"}]},{"val":[{"type":"text","content":"Same-store average tenant duration of stay at December 31, 2024 was approximately 3.4 years, which was about the same as December 31, 2023.","length":139,"tagName":"p"}]},{"val":[{"type":"text","content":"Funds from operations (FFO), a non-GAAP measure, increased 14% to $1.1 million or $0.10 per diluted share.","length":106,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted FFO (AFFO), a non-GAAP measure, increased 16% to $1.2 million or $0.11 per diluted share.","length":98,"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 December 31, 2024 totaled approximately $24.8 million, comprised of $7.2 million in cash, cash equivalents and restricted cash; $2.6 million in marketable securities; and the full amount available under the company's $15 million revolving credit facility.","length":280,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1112,"olType":false},{"type":"text","content":"Full Year 2024 Highlights","len...