Global Self Storage, Inc. (NASDAQ:SELF) Sees Significant Drop in Short Interest

Global Self Storage, Inc. (NASDAQ:SELF) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 16,200 shares, a decrease of 20.2% from the October 31st total of 20,300 shares. Based on an average daily volume of 16,800 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Investors Weigh In On Global Self Storage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Global Self Storage by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 55,866 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 2,152 shares in the last quarter. Crossingbridge Advisors LLC bought a new stake in Global Self Storage during the third quarter worth approximately $526,000. Finally, Northwest Capital Management Inc acquired a new position in Global Self Storage in the third quarter worth approximately $4,734,000. 28.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners assumed coverage on shares of Global Self Storage in a research note on Friday, October 18th. They set a “buy” rating and a $6.50 target price on the stock.

Global Self Storage Stock Down 1.6 %

SELF traded down $0.08 during trading on Friday, reaching $5.07. The stock had a trading volume of 9,608 shares, compared to its average volume of 15,535. The stock has a 50 day moving average of $5.09 and a two-hundred day moving average of $5.03. The firm has a market capitalization of $57.14 million, a price-to-earnings ratio of 18.78 and a beta of 0.26. Global Self Storage has a 1-year low of $4.01 and a 1-year high of $5.85.

Global Self Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 17th were paid a dividend of $0.072 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.29 annualized dividend and a yield of 5.68%. Global Self Storage’s dividend payout ratio is currently 107.41%.

Global Self Storage Company Profile

Global Self Storage is a self-administered and self-managed REIT that owns, operates, manages, acquires, and redevelops self-storage properties. The company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers.