Deep Value Hidden In The Shares Of Global Self Storage
GLOBAL SELF STORAGE - SELF
NASDAQ
Current Dividend Yield
6.5% - REPORT
Summary
In Q3, Global Self Storage outperformed the industry by several
dimensions of analysis.
Moreover, Q3 operational results represent just the next data point in
what is becoming an extended sequential history of superior quarterly
outcomes.
Further in-depth investigation reveals the attributes of significant
value and growth that are presently not being recognized by the market.
Persistently Outperforming the Industry
The information of the below table was taken directly from the most
recent Corporate Presentation (November 26th) of Global Self Storage
(NASDAQ:SELF) and is accessible here.
Therein are contained SELF's Q3 same-store operational results,
alongside those of Public Storage (NYSE:PSA), Extra Space Storage
(NYSE:EXR), Cube Smart (NYSE:CUBE), Life Storage (NYSE:LSI), and
National Storage Affiliates (NYSE:NSA).
During Q3, SELF's same-store revenue growth was 1.7 x the industry
average and its NOI growth was 2.44x the industry average, while it
maintained end-of-quarter occupancy at 1.3% above the industry average.
Indeed, outperforming the industry quarter after quarter is becoming
quite routine for the company. For example, see the articles: "Global
Self Storage Logs Exceptional Growth During Q2"
(August 17, 2018) and "Splendid
Growth Rates Reported by Global Self Storage"
(August 22, 2017). Each of these presents similar tables that depict
industry-leading operational performance. By doing some simple research,
the interested reader can further derive industry preeminent comparative
outcomes for each and every recent interim quarter. On that basis alone,
the market must be impressed with both the company's underlying
strategy, as well as management's competence in implementing that
strategy. From
Seeking Alpha - David Brown CFA
Disclaimer
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