Self Storage Group Declares Quarterly Dividend, Net Asset Value

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Self Storage Group Inc. (SSG), an investment-management company with interests in self-storage, declared a quarterly dividend distribution of $0.065 per share payable on March 31 to shareholders of record as of March 17, 2014. SSG also announced that its audited net asset value (NAV) per share was $4.58 as of Dec. 31, 2013.

The company indicated it will publish its unaudited NAV at the end of each calendar quarter as part of its decision to qualify as a real estate investment trust (REIT) for federal tax purposes. At the end of last year, SSG announced its intent to change from an investment company to an operating company that “owns, operates, manages, acquires, develops and redevelops professionally managed self-storage facilities.”

SSG released 2013 financial results and self-storage operating performance figures in its annual report, which can be downloaded from the company website.

The company previously operated as Global Income Fund. SSG owns seven self-storage properties under the Global Self Storage brand in Illinois, Indiana, New York, Pennsylvania and South Carolina through its wholly owned subsidiaries. Those assets comprise more than 80 percent of its net assets, company officials said in a press release. As part of its new business plan, SSG also has invested in REITs, including Extra Space Storage Inc., Public Storage Inc. and Sovran Self Storage Inc.

SSG is a non-diversified, closed-end, investment-management firm whose common stock is traded over the counter under the ticker symbol “SELF.” The primary investment objective of the company has been to provide a high level of income, with capital appreciation as a secondary objective.

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