GET DAILY SIGNALSGlobal Self Storage (SELF) Q3 2026: Revenues +0.6%, FFO +5.8%
Key Takeaways
- Global Self Storage reported third-quarter 2026 total revenues of roughly $3.24 million, up 0.6% from the prior-year period.
- Net income declined 16.0% to approximately $417,000, or $0.04 per diluted share, partly pressured by unrealized losses on marketable securities.
- Funds from operations (FFO), a key cash-flow measure for real estate investment trusts (REITs), rose 5.8% to $1.06 million, while adjusted FFO (AFFO) increased 4.7% to $1.15 million, or $0.10 per diluted share.
- Same-store net operating income (NOI) slipped 0.6% as operating costs rose 2.5%, and same-store occupancy edged down to 92.9%.
- The company kept its $0.0725 quarterly dividend in place, and average tenant duration reached a record 3.7 years.
- For more detail on the company, visit its Major News, Today's Price Move, Price Targets, and Forecast pages.
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Earnings Context and Why It Matters
Global Self Storage, Inc. (SELF) is a small-cap REIT focused on owning, operating, managing, acquiring, and redeveloping self-storage properties. Because REIT earnings include significant non-cash items like depreciation, investors typically emphasize FFO and AFFO over net income. The third-quarter 2026 results provide insight into the company’s ability to maintain occupancy and tenant retention amid rising employment costs and property taxes. Following a 2025 that featured record annual revenues and leading occupancy levels, this quarter shows whether steady operations can counter softer demand and support the dividend.
Reported Results
For the third quarter ended September 30, 2026, SELF posted total revenues of about $3.24 million, a 0.6% increase from $3.23 million a year earlier. Net income fell 16.0% to roughly $417,000, or $0.04 per diluted share, versus $496,000, or $0.04 per diluted share, in the prior-year quarter. The drop was influenced in part by a larger unrealized loss on marketable equity securities.
Cash-flow metrics showed more strength. FFO climbed 5.8% to $1.06 million, or $0.09 per diluted share, and AFFO rose 4.7% to $1.15 million, or $0.10 per diluted share. AFFO of $0.10 per share slightly topped the $0.09 consensus estimate, while revenues aligned closely with expectations. Same-store revenues increased 0.6%, yet same-store NOI declined 0.6% to approximately $1.96 million after operating costs rose 2.5%, mainly from higher employment expenses and real estate taxes. Same-store occupancy reached 92.9%, down modestly from 93.2% a year ago, while average tenant duration hit a record 3.7 years. The quarterly dividend remained at $0.0725 per share.
I also checked this using Tickeron’s AI Screener to compare SELF against other self-storage names on key metrics.
Market Reaction and Investor Sentiment
Investor focus centered on the contrast between firmer FFO and AFFO and softer net income alongside the same-store NOI dip. The record tenant duration of 3.7 years and steady dividend point to operational stability and strong loyalty, which should appeal to income-oriented holders. At the same time, the slight occupancy decline and rising store-level costs underscore ongoing margin pressure. Post-earnings moves will likely depend on whether the market prioritizes the improved cash-flow figures and payout stability over the erosion in same-store profitability.
Forward Outlook and Key Factors to Monitor
Looking ahead, attention should remain on whether SELF can sustain its strong occupancy levels while offsetting higher employment and property-tax costs through its revenue rate management program. The extended tenant duration indicates solid retention, though new demand and move-in activity will be important for keeping occupancy in the low-90% range.
Margin trends deserve close watching as well. Same-store operating costs increased 2.5% in the quarter, and any further acceleration in wages or taxes could add pressure to NOI. On a positive note, general and administrative expenses declined 5.5% year over year due to lower professional fees, offering some offset at the corporate level.
The balance sheet continues to provide flexibility, with capital resources of roughly $24.3 million available for acquisitions, joint ventures, or targeted expansion. How management allocates that liquidity and whether dividend coverage holds as results normalize will remain key themes in upcoming quarters.
Enhancing My Research Process
When analyzing REITs like SELF, I often rely on Tickeron’s AI Screener to quickly filter peers by occupancy trends, FFO growth, and cost metrics. It helps me surface comparable opportunities and validate my own calculations in a more efficient way.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
SELF's Indicator enters downward trend
The Aroon Indicator for SELF entered a downward trend on October 08, 2026. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 166 similar instances where the Aroon Indicator formed such a pattern. In 77 of the 166 cases the stock moved lower. This puts the odds of a downward move at 46%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 22, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on SELF as a result. In 42 of 123 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 34%.
The 50-day moving average for SELF moved below the 200-day moving average on November 03, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SELF declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 45%.
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The Moving Average Convergence Divergence (MACD) for SELF just turned positive on November 02, 2026. Looking at past instances where SELF's MACD turned positive, the stock continued to rise in 32 of 60 cases over the following month. The odds of a continued upward trend are 53%.
Following a +1.81% 3-day Advance, the price is estimated to grow further. Considering data from situations where SELF advanced for three days, in 123 of 235 cases, the price rose further within the following month. The odds of a continued upward trend are 52%.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 23 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 56 (best 1 - 100 worst), indicating fairly steady price growth. SELF’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 63 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 78, placing this stock slightly better than average.
The Tickeron Valuation Rating of 69 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.192) is normal, around the industry mean (1.887). P/E Ratio (26.889) is within average values for comparable stocks, (28.143). Projected Growth (PEG Ratio) (0.010) is also within normal values, averaging (2.612). Dividend Yield (0.060) settles around the average of (0.043) among similar stocks. P/S Ratio (4.494) is also within normal values, averaging (5.594).
The Tickeron SMR rating for this company is 84 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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General Information
a company which engages in the ownership, operation and management of self storage facilities
Industry SpecialtyTelecommunications
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