Global Self Storage FY2023 revenue up 2.1%; FFO down 7.2%; Q4 occupancy 89.3% later 92.1%

Global Self Storage, Inc.

FY2023 total revenue $12.2M (+2.1%); net income $2.9M ($0.26 diluted EPS) vs $2.1M ($0.19) prior year.
Full-year FFO decreased 7.2% to $4.2M ($0.38/diluted share); AFFO down 6.9% to $4.4M ($0.40).
Same-store NOI fell 1.7% to $7.6M, as cost of operations increased 9.1% (employment, property taxes).
Q4 same-store occupancy 89.3% at Dec 31, 2023, improved to 92.1% by March 15, 2024; tenant duration record 3.4 years.
Quarterly dividend maintained at $0.0725/share ($0.29 annualized); capital resources $24.3M including $14.5M undrawn credit facility.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Global Self Storage, Inc. reported financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 26, 2024, Global Self Storage, Inc. (the "Company") reported its financial results for the period ended December 31, 2023.

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Global Self Storage, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-036407

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