Global Self Storage Q4 revenue falls, net income rises
Overview
U.S. self-storage REIT's Q4 revenue fell 0.9% yr/yr, net income rose to $323,000
Same-store net operating income for Q4 decreased 4.1%
Outlook
Company expects gradual improvement in market fundamentals, including move-in rate stabilization
Result Drivers
HIGHER OPERATING EXPENSES - Q4 operating income and same-store NOI fell due to increased store-level expenses, especially for employment, landscaping and marketing
Company press release: ID:nACShGjQxa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $3.2 mln | $3.13 mln (2 Analysts) |
Q4 Dividend |
| $0.07 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Global Self Storage Inc is $6.25, about 22.5% above its March 24 closing price of $5.10
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago
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