Global Self Storage Q1 Revenues Rise 1.5% While Occupancy Reaches 93.1%
SELF•Global Self Storage’s Q1 total revenues increased 1.5% to $3.2 million while net income fell to $477,000 ($0.04 per share) and same-store occupancy rose 100 basis points to a sector-leading 93.1%, with record tenant duration of 3.6 years. FFO declined to $853,000 ($0.08).
1. Q1 Financial Results
Global Self Storage generated total revenues of $3.2 million in Q1 2026, up 1.5% year-over-year, while net income decreased to $477,000, or $0.04 per diluted share. Funds from operations fell to $853,000 ($0.08 per share) and adjusted FFO to $958,000 ($0.08), with the quarterly dividend maintained at $0.0725 per share.
2. Operational Highlights
Same-store occupancy climbed 100 basis points to 93.1%, marking the highest sector occupancy and growth rate, while average tenant duration hit a record 3.6 years. Operational excellence initiatives, including digital marketing, customer service enhancements, and a proprietary revenue management program, supported higher tenant retention and referral demand.
3. Balance Sheet and Outlook
As of March 31, 2026, capital resources totaled $24.5 million, comprising $7.4 million in cash, $2.3 million in marketable securities, and $14.8 million available on the revolver. Management plans to deploy these funds for acquisitions, joint ventures, and select expansion projects, while appealing increased property tax assessments and expecting employment cost normalization.
