Global Self Storage(SELF)
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Global Self Storage(SELF) - 2023 Q1 - Quarterly Report
2023-05-09 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. (Exact name of registrant as specified in its charter ...
Global Self Storage(SELF) - 2022 Q4 - Annual Report
2023-03-28 21:19
Revenue and Income - Total revenues increased from $10,508,830 in 2021 to $11,944,850 in 2022, a growth of 13.7% or $1,436,020[192] - Rental income rose from $10,051,371 in 2021 to $11,485,511 in 2022, an increase of 14.3% or $1,434,140, primarily due to higher rental rates[192] - Operating income rose by 31.4% from $2,684,960 in 2021 to $3,527,190 in 2022, mainly due to increased total revenues[198] - Net income for 2022 was $2,057,723 or $0.19 per fully diluted share, down from $3,281,251 or $0.33 per fully diluted share in 2021[202] - Same-store revenues increased by 13.7% for the year ended December 31, 2022, reaching $11,861,082 compared to $10,432,905 in 2021[214] - Same-store net operating income (NOI) increased by 15.6% for the year ended December 31, 2022, totaling $7,691,900 compared to $6,656,135 in 2021[214] - Funds from operations (FFO) attributable to common stockholders for the twelve months ended December 31, 2022, was $4,486,781, an increase of approximately 34% from $3,346,129 in 2021[240] - Adjusted funds from operations (AFFO) attributable to common stockholders for the twelve months ended December 31, 2022, was $4,709,042, up from $3,586,032 in 2021, reflecting a growth of approximately 31%[240] - The diluted earnings per share for the twelve months ended December 31, 2022, was $0.19, down from $0.33 in 2021, indicating a decline of approximately 42%[240] Expenses and Costs - Total operating expenses increased by 7.6% from $7,823,870 in 2021 to $8,417,660 in 2022, driven by higher general and administrative expenses and store operating expenses[194] - Same-store cost of operations rose by 18.1% or $170,622 for the three months ended December 31, 2022, and by 10.4% or $392,412 for the twelve months ended December 31, 2022, compared to the same periods in 2021[227] - Employment expenses increased by 21.7% or $58,387 for the three months ended December 31, 2022, and by 8.4% or $93,810 for the twelve months ended December 31, 2022, due to routine employee additions and inflation[228] - Real estate property tax expenses increased by 21.2% or $73,093 for the three months ended December 31, 2022, and by 12.3% or $161,085 for the twelve months ended December 31, 2022, primarily due to increased property assessment valuations[229] - Marketing expenses increased by 22.0% or $15,982 for the three months ended December 31, 2022, and by 15.4% or $39,355 for the twelve months ended December 31, 2022, due to higher marketing costs and internet advertising expenses[235] Occupancy and Property Management - The company managed one third-party owned property as of December 31, 2022, with 137,318 leasable square feet and 619 units[185] - The company converted approximately 2,500 leasable square feet to climate-controlled units at the Lima, OH property, increasing total occupancy to approximately 91.1%[187] - Same-store occupancy decreased by 350 basis points to 89.6% as of December 31, 2022, down from 93.1% in the same period of 2021[209] - The average tenant duration of stay increased to approximately 3.3 years as of December 31, 2022, up from approximately 3.0 years as of December 31, 2021[226] - The company completed several expansion and conversion projects, including adding approximately 11,800 leasable square feet in Millbrook, NY, with total area occupancy increasing to 94.1% as of December 31, 2022[242] - The McCordsville, IN property underwent a conversion that resulted in 535 units and 76,360 leasable square feet, with total area occupancy at 89.4% as of December 31, 2022[243] - The West Henrietta, NY store expansion added approximately 7,300 leasable square feet, with total area occupancy at 79.6% as of December 31, 2022[244] - The Lima, OH property had a total area occupancy of approximately 91.8% as of December 31, 2022, following a conversion that added 3,000 leasable square feet[245] Financial Resources and Capital - As of December 31, 2022, the company had capital resources totaling approximately $23.9 million, including $6.5 million in cash and cash equivalents, $2.4 million in marketable securities, and $15.0 million available under the Amended Credit Facility Loan Agreement[190] - The company raised approximately $6.7 million from a rights offering by issuing 1,601,291 shares at $4.18 per share[179] - The company completed a public offering on June 25, 2021, raising approximately $6.9 million by issuing 1,289,720 shares at $5.35 per share[181] - The company plans to use proceeds from the Amended Credit Facility Loan Agreement for acquisitions, expansions, and joint ventures[183] - The company anticipates sufficient cash from current sources to meet liquidity needs for the next twelve months, with capital resources expected to exceed projected expenses[188] Unrealized Gains and Losses - The company recorded an unrealized loss of $1,117,029 for the year ended December 31, 2022, compared to an unrealized gain of $1,566,731 in 2021[200] - Unrealized losses on marketable equity securities for the twelve months ended December 31, 2022, were $1,117,029, compared to unrealized gains of $1,566,731 in 2021[247] - The cumulative unrealized gain on marketable equity securities as of December 31, 2022, was $1,610,666, with no realized gains or losses for the twelve months ended December 31, 2022, and 2021[247]
Global Self Storage(SELF) - 2022 Q3 - Quarterly Report
2022-11-10 21:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2022 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. (Exact name of registrant as specified in its cha ...
Global Self Storage(SELF) - 2022 Q2 - Quarterly Report
2022-08-10 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Name, address, including zip code, and telephone number, including area code, of agent for service) Securities registered pursuant to Section 12(b) of the Act: For the transition period fro ...
Global Self Storage(SELF) - 2022 Q1 - Quarterly Report
2022-05-16 12:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. (Exact name of registrant as specified in its charter ...
Global Self Storage(SELF) - 2021 Q4 - Annual Report
2022-03-31 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...
Global Self Storage(SELF) - 2021 Q3 - Quarterly Report
2021-11-15 13:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) For the quarterly period ended September 30, 2021 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Maryland 13-3926714 ( ...
Global Self Storage(SELF) - 2021 Q2 - Quarterly Report
2021-08-16 12:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2021 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. (Exact name of registrant as specified in its charter) ...
Global Self Storage (SELF) Investor Presentation - Slideshow
2021-06-18 22:32
NASDAQ: SELF ® NASDAQ: SELF Driving Record Same-Store Occupancy and Revenues, with Double-Digit Percentage Growth in FFO & AFFO ® Self-Storage REIT Achieving Strong Pricing Power and Lease-up Performance Corporate Presentation June 2021 Important Cautions Regarding Forward-Looking Statements NASDAQ: SELF ® Certain information presented in this presentation may contain "forward-looking statements" within the meaning of the federal securities laws including, but not limited to, the Private Securities Litigati ...
Global Self Storage(SELF) - 2021 Q1 - Quarterly Report
2021-05-13 20:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended March 31, 2021 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Exact name of registrant as specified in its charter ...