Global Self Storage Declares Second Quarter 2024 Dividend
Global Self Storage (NASDAQ:SELF), a real estate investment trust, announced a cash dividend of $0.0725 per common share for Q2 2024. This dividend will be payable on June 28, 2024, to shareholders of record as of June 17, 2024.
The company aims to increase shareholder value through strategic acquisitions and expansion projects. Its board regularly reviews performance metrics such as capital formation, debt-equity ratios, and dividend policies. Management believes that the company's operational performance and capital resources support continued strategic growth.
- Declared a cash dividend of $0.0725 per common share for Q2 2024.
- Dividend payable on June 28, 2024, to shareholders of record as of June 17, 2024.
- Strategic business plan includes acquisitions and expansion projects.
- Board regularly reviews strategic business plan including metrics like FFO and AFFO performance.
- Management believes company is well-positioned to pursue strategic growth.
- No immediate financial figures or metrics provided for current performance.
- Potential risk if strategic acquisitions and expansions do not yield expected returns.
Insights
Global Self Storage declared a cash dividend of
The company’s commitment to its strategic business plan which includes funding acquisitions and expansion projects, is a promising sign for potential growth. However, it's essential to consider the balance between distributing dividends and reinvesting profits into growth opportunities. Over time, these strategic efforts could lead to enhanced property portfolios and higher rental incomes, possibly boosting future dividends.
An important metric to watch is the Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO) performance. These are key indicators of a REIT's operational performance and sustainability of dividend payouts. Investors should look for steady or increasing FFO/AFFO figures, as they underpin the company’s ability to maintain or grow its dividend payouts.
Rating: 1 (Positive)
Announcing a dividend is a strategic move often used to attract and retain investors. For Global Self Storage, the dividend announcement aligns with their goal of increasing shareholder value. This can be particularly appealing for income-focused investors seeking reliable returns from dividends.
It’s noteworthy that the company also emphasizes funding acquisitions and expansion projects. Such initiatives can drive long-term growth, potentially increasing the company’s market share and revenue streams. However, the trade-off comes in the form of leveraging debt and equity, which may impact the balance sheet and future cash flows.
Understanding the company's decisions around capital allocation is vital. How they balance reinvestment and shareholder returns through dividends will shape their financial health and growth prospects. Investors should monitor updates on their acquisition efforts and how these are financed over time.
Rating: 1 (Positive)
MILLBROOK, NY / ACCESSWIRE / June 3, 2024 / Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns, operates, manages, acquires, and redevelops self-storage properties, has declared a cash dividend of
The dividend is payable on June 28, 2024, to stockholders of record as of June 17, 2024.
Company Objective
The objective of the company is to increase value over time for the benefit of its stockholders. Toward this end, the company will continue to execute its strategic business plan, which includes funding acquisitions, either directly or through joint ventures, and expansion projects at its existing properties. The company's board of directors regularly reviews the strategic business plan, with topics and metrices that include capital formation, debt versus equity ratios, dividend policy, use of capital and debt, FFO and AFFO performance, and optimal cash levels.
The management of Global Self Storage believes that the company's continued operational performance and capital resources position it well to continue to pursue its strategic business plan.
About Global Self Storage
Global Self Storage is a self-administered and self-managed REIT that owns, operates, manages, acquires, and redevelops self-storage properties. The company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. Through its wholly owned subsidiaries, the company owns and/or manages 13 self-storage properties in Connecticut, Illinois, Indiana, New York, Ohio, Pennsylvania, South Carolina, and Oklahoma.
For more information, go to ir.globalselfstorage.us or visit the company's customer site at www.globalselfstorage.us. You can also follow Global Self Storage on X, LinkedIn and Facebook.
Cautionary Note Regarding Forward Looking Statements
Certain information presented in this press release may contain "forward-looking statements" within the meaning of the federal securities laws including, but not limited to, the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements concerning the company's plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions, and other information that is not historical information. In some cases, forward looking statements can be identified by terminology such as "believes," "plans," "intends," "expects," "estimates," "may," "will," "should," "anticipates," or the negative of such terms or other comparable terminology, or by discussions of strategy. All forward-looking statements by the company involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the company, which may cause the company's actual results to be materially different from those expressed or implied by such statements. The company may also make additional forward looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by the company or on its behalf, are also expressly qualified by these cautionary statements. Investors should carefully consider the risks, uncertainties, and other factors, together with all of the other information included in the company's filings with the Securities and Exchange Commission, and similar information. All forward-looking statements, including without limitation, the company's examination of historical operating trends and estimates of future earnings, are based upon the company's current expectations and various assumptions. The company's expectations, beliefs and projections are expressed in good faith, but there can be no assurance that the company's expectations, beliefs and projections will result or be achieved. All forward looking statements apply only as of the date made. The company undertakes no obligation to publicly update or revise forward looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events. The amount, nature, and/or frequency of dividends paid by the company may be changed at any time without notice.
Company Contact:
Thomas O'Malley
Chief Financial Officer
Global Self Storage
1 (212) 785-0900, ext. 267
Email Contact
Investor Relations Contact:
Ron Both
CMA Investor Relations
Tel (949) 432-7566
Email Contact
Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact
SOURCE: Global Self Storage
View the original press release on accesswire.com
FAQ
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