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

Global Self Storage, Inc. (NASDAQ:SELF)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.12 and traded as low as $5.01. Global Self Storage shares last traded at $5.06, with a volume of 30,494 shares traded.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners began 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 Performance

The firm has a market capitalization of $56.98 million, a price-to-earnings ratio of 26.63 and a beta of 0.25. The company has a 50 day moving average price of $5.12 and a two-hundred day moving average price of $4.91.

Global Self Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.072 per share. This represents a $0.29 annualized dividend and a yield of 5.69%. The ex-dividend date was Tuesday, September 17th. Global Self Storage’s payout ratio is 152.63%.

Institutional Trading of Global Self Storage

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Global Self Storage by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 55,866 shares of the financial services provider’s stock worth $272,000 after buying an additional 2,152 shares during the last quarter. Core Wealth Partners LLC purchased a new position in shares of Global Self Storage in the first quarter valued at approximately $44,000. Finally, Northwest Capital Management Inc acquired a new stake in shares of Global Self Storage in the third quarter worth approximately $4,734,000. Hedge funds and other institutional investors own 28.88% of the company’s stock.

About Global Self Storage

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.