# Global Self Storage’s AFFO Rises 4.7% as Same-Store NOI Declines

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/51798
Published: 2026-11-08T20:35:53.000Z
Updated: 2026-11-08T20:35:53.000Z
Section: Business

> Revenue advanced 0.6% to $3.24 million, while net income fell to $416,692 and same-store occupancy slipped to 92.9%.

Global Self Storage, Inc. recorded a 4.7% year-over-year gain in third-quarter adjusted funds from operations, as revenue edged higher while net income, same-store net operating income and occupancy fell.

The company announced its results Friday, Nov. 6, for the quarter ended Sept. 30, 2026. Adjusted funds from operations (AFFO), a non-GAAP measure, totaled $1,149,032, compared with $1,097,500 a year earlier. AFFO per diluted share was unchanged at $0.10.

Revenue increased 0.6% to $3,244,515 from $3,225,671 in the third quarter of 2025. Net income declined to $416,692 from $496,259. Diluted earnings per share remained $0.04 in both periods.

Across its 12 same-store properties, net operating income was $1.96 million, down from $1.97 million a year earlier. Same-store occupancy stood at 92.9% on Sept. 30, compared with 93.2% on the same date in 2025.

Store operating expenses rose 2.5% to $1,270,485. Higher employment costs and real estate property taxes contributed to the increase.

The U.S. REIT owns and operates self-storage facilities and is both self-administered and self-managed. As of Sept. 30, the company had 12 same-store properties and managed one property owned by a third party.