Global Self Storage reports record Q3 revenue $3.1M, FFO up 45.7%, dividend increased 11.5%

Global Self Storage, Inc.

2022-Q3 EPS reported $0.15 revenue$8,886,141

Total revenues +13% to $3.1M; operating income +41% to $1.1M; net income $930k ($0.08 diluted EPS).
FFO increased 45.7% to $1.4M ($0.13/share); AFFO +42% to $1.4M ($0.13/share).
Same-store NOI +16% to $2.1M; same-store occupancy 89.6% (90.6% as of Nov 8).
Quarterly dividend raised 11.5% to $0.0725/share ($0.29 annualized), paid Sept 30.
Capital resources $24.1M including $6.5M cash, $2.6M marketable securities, $15M credit facility.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Global Self Storage, Inc. reported Q3 2022 results: revenue 3.1 million, net income 930,000, EPS 0.08.

Period: Q3 2022
Revenue: 3.1 million
Net income: 930,000
EPS: 0.08
Result: reported results

Exact text from the filing

Total revenues increased 13.0% to $3.1 million in the third quarter of 2022, as compared to $2.7 million in the same period last year. This increase was due primarily to an increase in rental rates. Total operating expenses in the third quarter of 2022 increased 1.8% to $1.98 million, as compared to $1.95 million in the same period last year. The increase was primarily attributable to an increase in store operating expenses, including employment costs and real estate property taxes. Operating income increased 41.0% to $1.1 million in the third quarter of 2022, as compared to $784,000 in the same period last year. Net income was $930,000 or $0.08 per diluted share in the third quarter of 2022, as compared to $629,000 or $0.06 per diluted share in the same period last year.

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Source: SEC EDGAR

accession 0000950170-22-024468

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