In This Story
Global Self Storage, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenues to $3,200,276 from $3,090,374 in the same quarter the previous year. This increase is attributed to higher rental income and other property-related income.
Operating expenses for the quarter rose to $2,327,186 from $2,261,841, primarily due to increased general and administrative expenses.
The company reported an operating income of $873,090, compared to $828,533 in the previous year.
Net income for the quarter was $1,181,657, up from $270,758 in the previous year. Earnings per share were $0.10, compared to $0.02 in the previous year.
Cash provided by operating activities was $3,068,193, while cash used in investing and financing activities was $62,440 and $3,107,165, respectively.
Global Self Storage had total assets of $66,275,467 as of September 30, 2024. The company continues to focus on expanding its self-storage portfolio and managing its properties.
The filing also details various financial agreements, including a revolving credit facility with The Huntington National Bank (HBAN-1.31%).
The company does not anticipate cash dividend payments to common stockholders in the near future.
Global Self Storage identified no material weaknesses in its internal controls over financial reporting.
The company continues to review acquisition opportunities and expand its third-party management platform, Global MaxManagementSM.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Global Self Storage Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.