Global Self Storage, Inc. (NASDAQ:SELF) Short Interest Update

Global Self Storage, Inc. (NASDAQ:SELF) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 68,491 shares, a drop of 36.0% from the May 31st total of 106,934 shares. Based on an average daily trading volume, of 14,052 shares, the days-to-cover ratio is currently 4.9 days. Currently, 0.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Global Self Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Global Self Storage presently has an average rating of “Hold”.

Global Self Storage Trading Down 1.8%

SELF traded down $0.10 during trading on Thursday, reaching $5.16. The stock had a trading volume of 4,564 shares, compared to its average volume of 27,372. The company has a market capitalization of $58.88 million and a price-to-earnings ratio of 30.32. The stock’s 50 day moving average is $5.23 and its two-hundred day moving average is $5.14. Global Self Storage has a one year low of $4.73 and a one year high of $5.63.

Global Self Storage (NASDAQ:SELF) last announced its earnings results on Friday, May 8th. The financial services provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $3.17 million for the quarter, compared to the consensus estimate of $3.08 million. Global Self Storage had a net margin of 15.37% and a return on equity of 4.19%.

Global Self Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.0725 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Monday, June 15th. Global Self Storage’s dividend payout ratio is 170.59%.

Hedge Funds Weigh In On Global Self Storage

Large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Global Self Storage in the 3rd quarter worth approximately $54,000. Private Capital Management LLC bought a new stake in Global Self Storage in the fourth quarter worth $61,000. Hsbc Holdings PLC bought a new stake in Global Self Storage in the first quarter worth $88,000. Raymond James Financial Inc. grew its stake in shares of Global Self Storage by 20.4% in the second quarter. Raymond James Financial Inc. now owns 18,758 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 3,179 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Global Self Storage in the fourth quarter worth $99,000. 28.88% of the stock is currently owned by hedge funds and other institutional investors.

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.