Global Self Storage (NASDAQ:SELF) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Global Self Storage, Inc. (NASDAQ:SELF) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.17 and traded as low as $5.07. Global Self Storage shares last traded at $5.12, with a volume of 13,020 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Global Self Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Global Self Storage has a consensus rating of “Hold”.

Global Self Storage Stock Performance

The business has a 50 day simple moving average of $5.17 and a 200-day simple moving average of $5.15. The stock has a market capitalization of $58.47 million and a P/E ratio of 30.12.

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

Global Self Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.0725 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 5.7%. Global Self Storage’s payout ratio is 170.59%.

Institutional Investors Weigh In On Global Self Storage

A number of large investors have recently made changes to their positions in the company. Cetera Investment Advisers raised its position in Global Self Storage by 158.3% during the second quarter. Cetera Investment Advisers now owns 45,552 shares of the financial services provider’s stock valued at $243,000 after buying an additional 27,914 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Global Self Storage by 20.4% in the 2nd quarter. Raymond James Financial Inc. now owns 18,758 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 3,179 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Global Self Storage by 3.4% in 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. Virtu Financial LLC bought a new stake in Global Self Storage during the third quarter worth approximately $54,000. Finally, Citadel Advisors LLC bought a new stake in shares of Global Self Storage during the 3rd quarter worth $197,000. 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.