Global Self Storage Q1 revenue rises on higher occupancy, tenant rates

Global Self Storage

08/05/2026 21:25

Overview

U.S. self-storage REIT's Q1 revenue rose 1.5% year-over-year

Net income and FFO declined due to higher operating and administrative expenses

Same-store occupancy reached 93.1%, as of March 31, 2026, highest in sector, with record same-store average tenant duration of 3.6 years

Outlook

Global Self Storage plans growth through acquisitions, joint ventures, and expansion projects

Company expects employment costs to return to lower historic levels of growth

Global Self Storage is appealing property tax reassessments but cannot guarantee reductions

Result Drivers

HIGHER OCCUPANCY AND TENANT RATES - Revenue growth was driven by increased occupancy and higher rates for existing tenants under the company's revenue management program

OPERATING EXPENSES - Profitability was negatively affected by higher store operating expenses, mainly due to increased employment costs and property taxes

CUSTOMER SERVICE AND MARKETING - High occupancy and tenant retention were supported by customer service efforts and digital marketing initiatives, according to CEO Mark C. Winmill

Company press release: ID:nACSjQ7wca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$3.2 mln
$3.09 mln (2 Analysts)
Q1 Dividend
$0.07


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Global Self Storage Inc is $6.25, about 15.5% above its May 7 closing price of $5.41

The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)