Global Self Storage Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 revenue $3.2 million, up 0.6% year over year
- ➤Q3 net income $417,000, down 16.0% year over year
- ➤Q3 FFO $1.1 million, up 5.8%; AFFO $1.1 million, up 4.7%
- ➤Same-store NOI $2.0 million, down 0.6%, as operating costs rose 2.5%
- ➤Capital resources $24.3 million; quarterly dividend maintained at $0.0725 per share
Expert Statements
Mark C. Winmill, CEO and president of Global Self Storage
“In Q3, we delivered positive same-store revenue growth, a record-level average tenant duration of stay of approximately 3.7 years at quarter-end, and strong growth in FFO and AFFO”
Mark C. Winmill, CEO and president of Global Self Storage
“During the quarter, our competitor move-in rate metrics analysis kept our rates competitive, while our proprietary revenue rate management program increased existing tenant rates and optimized store occupancy.”
Mark C. Winmill, CEO and president of Global Self Storage
“Our digital marketing initiatives also supported maintaining strong occupancy by highlighting our outstanding customer reviews, including a record-level average rating above 4.9 out of 5 stars at quarter-end.”
Mark C. Winmill, CEO and president of Global Self Storage
“Our customer service efforts-providing a clean, safe and convenient rental process-continued to attract high-quality, long-term tenants. These efforts also strengthened local brand loyalty and drove strong referral and word-of-mouth demand for our storage units and services.”
Mark C. Winmill, CEO and president of Global Self Storage
“This quarter, we neared completion of the replacement of our kiosks with a QR code-based quick access page for unit rentals.”
Mark C. Winmill, CEO and president of Global Self Storage
“With these changes in place, we currently expect marketing expenses to decrease for the remainder of 2026.”
Mark C. Winmill, CEO and president of Global Self Storage
“While our focus on cost control helped reduce G&A expenses by 5.5% during the quarter, store operating expenses increased primarily due to higher employment costs and real estate property taxes.”
Mark C. Winmill, CEO and president of Global Self Storage
“We currently expect growth in store-level employment costs related to headcount to return to lower historic levels, partially offset by inflationary increases in compensation rates and additional compensation costs as we potentially add stores.”
Mark C. Winmill, CEO and president of Global Self Storage
“We also expect inflationary increases in administrative costs for the remainder of 2026.”
Mark C. Winmill, CEO and president of Global Self Storage
“With approximately $24.3 million in capital resources, we believe we can continue to execute our strategic business plan through acquisitions, directly or through joint ventures, and expansion projects at existing properties.”
Mark C. Winmill, CEO and president of Global Self Storage
“We continue to review store and portfolio acquisition opportunities and may pursue additional third-party management relationships through Global MaxManagement, seeking to broaden our revenue base and pipeline of potential acquisitions.”
Mark C. Winmill, CEO and president of Global Self Storage
“Looking ahead, we currently expect rental income growth to come from continued existing tenant rent increases, higher move-in rental rates, lower promotional discounts and higher occupancy.”
Mark C. Winmill, CEO and president of Global Self Storage
“We anticipate existing tenant rent increases for the remainder of 2026 to be similar to those in the prior year.”
Mark C. Winmill, CEO and president of Global Self Storage
“With our disciplined operating approach, loyal tenant base and capital resources, we believe we are well positioned to pursue growth opportunities and build long-term value for our stockholders.”
MILLBROOK, NY / ACCESS Newswire / November 6, 2026 / 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 third quarter ended September 30, 2026. All comparisons are to the same year-ago period unless otherwise noted.
Q3 2026 Highlights * Total revenues increased 0.6% to $3.2 million. * Net income decreased 16.0% to $417,000 or $0.04 per diluted share. * Same-store revenues increased 0.6% to $3.2 million. * Same-store cost of operations increased 2.5% to $1.3 million. * Same-store net operating income (NOI) decreased 0.6% to $2.0 million (see definition of this and other non-GAAP measures and their reconciliation to GAAP, below). * Same-store occupancy as of September 30, 2026 was 92.9%, compared to 93.2% as of September 30, 2025. * Same-store average tenant duration of stay as of September 30, 2026 was a record level of approximately 3.7 years, and increased compared to approximately 3.5 years as of September 30, 2025. * Funds from operations (FFO), a non-GAAP measure, increased 5.8% to $1.1 million or $0.09 per diluted share. * Adjusted FFO (AFFO), a non-GAAP measure, increased 4.7% to $1.1 million or $0.10 per diluted share. * Maintained and covered quarterly dividend of $0.0725 per common share. * Capital resources as of September 30, 2026 totaled approximately $24.3 million, comprised of $7.5 million in cash, cash equivalents and restricted cash; $2.3 million in marketable securities; and $14.5 million available under the company's revolving credit facility. First Nine Months 2026 Highlights * Total revenues increased 0.9% to $9.6 million. * Net income increased 0.4% to $1.7 million or $0.15 per diluted share from $1.7 million or $0.15 per diluted share. * Same-store revenues increased 0.9% to $9.6 million. * Same-store cost of operations increased 6.8% to $3.9 million. * Same-store NOI decreased 2.8% to $5.7 million. * FFO decreased 5.9% to $2.9 million or $0.26 per diluted share. * AFFO decreased 5.1% to $3.2 million or $0.28 per diluted share. * Maintained and covered dividends totaling $0.2175 per common share. Dividend
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