MILLBROOK, NY / ACCESSWIRE / October 3, 2022 / Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns, operates, manages, acquires and redevelops self-storage properties, will ring the Nasdaq Stock Market Closing Bell on Wednesday, October 5, to commemorate the company's exceptional operational and financial performance, including a dividend yield that leads its publicly-traded self-storage REIT peers.
Event: Nasdaq Closing Bell Ceremony
Date: Wednesday, October 5
Time: 3:52 p.m. Eastern time
Live broadcast link: livestream.com/nasdaq/live
The ceremony will be streamed online at livestream.com/nasdaq/live beginning at approximately 3:52 p.m. Eastern time. Following an introduction by Nasdaq, the president and CEO of Global Self Storage, Mark C. Winmill, will speak and then ring the bell at 4:00 p.m., along with other members of the Global Self Storage team.
The bell ringing will be broadcasted live across major business news networks, including CNBC, Fox Business News and Bloomberg TV, as well as on the Nasdaq Tower in the heart of Times Square.
Starting at 3:30 pm, the online stream will present a view of the Nasdaq Tower with the Global Self Storage logo and trading symbol displayed until the event begins. A replay of the event will be available here.
"We are honored to celebrate our six-year anniversary on Nasdaq, and recognize the many amazing milestones our talented Global Self Storage team has achieved over the years," stated Winmill. "We have nearly doubled our number of self-storage properties and expanded across three states, all while increasing our cash flows and stockholder dividend."
Global Self Storage's strong pricing power, operational excellence and proprietary revenue rate management program allowed the company to increase its dividend for common stockholders last month by 11.5%. This increased the company's quarterly dividend distribution by $0.03 to $0.29 per share on an annualized basis.
In times of moderate to high inflation, public REITs have historically outperformed the S&P 500 in terms of higher returns and financial performance. This has been especially true for the self-storage sector of the real estate market, which can maintain a hedge against inflation because of its ability to quickly adapt its pricing to market conditions by virtue of its month-to-month rentals. Self-storage has also historically performed well during periods of both economic growth and recession.
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.
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, including the negative impacts from the continued spread of COVID-19 on the economy, the self storage industry, the broader financial markets, the company's financial condition, results of operations and cash flows and the ability of the company's tenants to pay rent. 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.
Thomas O'Malley, Chief Financial Officer
Global Self Storage
1 (212) 785-0900, ext. 267
Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
CMA Media Relations
Tel (949) 432-7572
SOURCE: Global Self Storage