SELF - Global Self Storage FFO of $0.10 misses by $0.01 revenue of $3.1M beats by $0.03M

2023-03-29 00:58:53 ET

• Global Self Storage press release ( NASDAQ: SELF ): Q4 FFO of $0.10 misses by $0.01 .
• Revenue of $3.1M (+10.7% Y/Y) beats by $0.03M .
• Net income totaled $440K or $0.04 per diluted share.
• Adjusted FFO, a non-GAAP term, increased 1.3% to $1.1M or $0.10 per diluted share.
• Same-store revenues increased 10.8% to a record $3.0M.
• Same-store net operating income, a non-GAAP term, increased 6.9% to $1.9M.
• Same-store occupancy at December 31, 2022 decreased to 89.6% from 93.1% at December 31, 2021, as the company optimized rental revenue under its revenue rate management program.
• Same-store average tenant duration of stay at December 31, 2022 was approximately 3.3 years, up from approximately 3.0 years as of December 31, 2021.

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