Global Self Storage Reports 2.7% Revenue Growth to $3.19 Million in Q2 2025

Global Self Storage, Inc. reported its financial results for the second quarter of 2025, showing a total revenue of $3.19 million, a 2.7% increase from $3.11 million in the same period last year. The company's rental income rose to $3.06 million, up from $2.98 million, driven by higher occupancy rates and increased tenant rates under its revenue management program. For the first half of 2025, total revenues reached $6.32 million, compared to $6.14 million in the prior year, marking a 2.9% increase. The net income for the quarter was $664,216, or $0.06 per diluted share, compared to $591,530, or $0.05 per diluted share, in the previous year.

The company experienced a decrease in total operating expenses, which fell to $2.37 million from $2.47 million year-over-year, primarily due to a reduction in general and administrative costs. Operating income for the quarter increased by 30.4% to $828,925, up from $635,911 in the same quarter of 2024. For the six-month period, operating income also saw a significant rise, reaching $1.55 million, a 26.5% increase from $1.23 million in the prior year.

In terms of operational metrics, Global Self Storage managed a total of 13 properties across several states, including Connecticut, Illinois, and New York, with an overall square foot occupancy rate of 94.8% as of June 30, 2025, compared to 93.5% a year earlier. The company’s same-store properties reported a 2.7% increase in revenues for the quarter, with net operating income rising by 4.0%. The average tenant duration increased slightly to 3.4 years, reflecting the company's focus on customer retention and service quality.

Strategically, Global Self Storage has been actively managing its portfolio, with no new acquisitions reported during the quarter. The company continues to explore opportunities for expansion and redevelopment of existing properties. As of June 30, 2025, the company had approximately $25.2 million in capital resources, including $7.6 million in cash and cash equivalents, and $15 million available under its credit facility. The company anticipates using these resources to fund future acquisitions and expansions, while maintaining a focus on maximizing cash flows from its existing operations.

Looking ahead, Global Self Storage expects to continue its revenue growth through existing tenant rent increases and improved occupancy rates. However, the company acknowledges potential challenges from economic uncertainties, including inflation and changing consumer behaviors. Management remains committed to refining its revenue management strategies and enhancing operational efficiencies to navigate these challenges effectively.