Global Self Storage, Inc. (NASDAQ:SELF) Sees Large Decrease in Short Interest

Global Self Storage, Inc. (NASDAQ:SELF) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 20,099 shares, a decline of 75.7% from the July 15th total of 82,751 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 21,170 shares, the short-interest ratio is currently 0.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Global Self Storage from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Global Self Storage Stock Up 3.7%

Shares of SELF traded up $0.19 during midday trading on Friday, reaching $5.35. 48,484 shares of the stock were exchanged, compared to its average volume of 26,698. Global Self Storage has a 12-month low of $4.73 and a 12-month high of $5.63. The firm has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $5.16. The company has a market cap of $61.10 million and a price-to-earnings ratio of 29.72.

Global Self Storage (NASDAQ:SELF) last announced its quarterly earnings results on Friday, August 7th. The financial services provider reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Global Self Storage had a return on equity of 4.57% and a net margin of 16.64%.The business had revenue of $3.21 million during the quarter, compared to analysts’ expectations of $3.15 million.

Global Self Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.0725 dividend. This represents a $0.29 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Monday, June 15th. Global Self Storage’s payout ratio is currently 161.11%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SELF. Winmill & CO. Inc. bought a new position in shares of Global Self Storage during the 2nd quarter valued at $3,073,000. BlackRock Inc. bought a new stake in Global Self Storage in the second quarter worth $2,083,000. Geode Capital Management LLC boosted its holdings in Global Self Storage by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 144,144 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 2,867 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Global Self Storage by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 61,131 shares of the financial services provider’s stock worth $307,000 after buying an additional 2,032 shares during the last quarter. Finally, Easterly Investment Partners LLC acquired a new position in Global Self Storage during the fourth quarter worth $250,000. Institutional investors and hedge funds own 28.88% of the company’s stock.

About Global Self Storage

Global Self Storage, Inc (NASDAQ: SELF) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and acquisition of self storage properties across the United States. Headquartered in Denver, Colorado, the company focuses on delivering storage solutions tailored to both personal and commercial customers. Since its formation in 2012, Global Self Storage has built a diversified portfolio designed to meet a range of storage needs—from climate-controlled units to vehicle and business storage options.

The company’s primary business activities include the development of new facilities, the strategic acquisition of existing properties and the repositioning of underperforming assets.