earnings
confidence high
sentiment negative
materiality 0.60
Global Self Storage Q3 net income falls 71% to $271k; FFO down 21.7%
Global Self Storage, Inc.
2023-Q3 EPS reported
$0.16
revenue$9,214,345
- Total revenues flat at $3.1M (+0.1% YoY); net income $271k ($0.02/diluted) vs $930k ($0.08) in Q3 2022.
- FFO decreased 21.7% to $1.1M ($0.10/diluted); AFFO down 20.5% to $1.1M ($0.10/diluted).
- Same-store revenue +0.2% to $3.1M; same-store NOI -7.1% to $1.9M; occupancy 89.8% at Sep 30.
- Operating expenses +14.2% to $2.3M; operating income -25.1% to $829k.
- Dividend maintained at $0.0725/quarter; capital resources $24.1M incl $15M credit line.