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

Global Self Storage, Inc. (NASDAQ:SELF) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 28,805 shares, an increase of 72.2% from the September 15th total of 16,728 shares. Based on an average trading volume of 49,836 shares, the short-interest ratio is currently 0.6 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SELF. Bard Associates Inc. acquired a new stake in Global Self Storage during the 2nd quarter worth $82,000. Hsbc Holdings PLC bought a new stake in Global Self Storage in the 1st quarter valued at approximately $88,000. Man Group plc acquired a new position in Global Self Storage during the 2nd quarter worth approximately $140,000. BlackRock Inc. acquired a new position in Global Self Storage during the 2nd quarter worth approximately $2,083,000. Finally, Winmill & CO. Inc. bought a new position in shares of Global Self Storage during the 2nd quarter worth approximately $3,073,000. 28.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Global Self Storage from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Global Self Storage Stock Performance

SELF traded down $0.08 during mid-day trading on Friday, reaching $4.91. The stock had a trading volume of 29,446 shares, compared to its average volume of 28,512. The firm’s fifty day simple moving average is $5.16 and its two-hundred day simple moving average is $5.19. The stock has a market capitalization of $56.07 million, a P/E ratio of 27.28 and a beta of -0.02. Global Self Storage has a 52 week low of $4.80 and a 52 week high of $5.75.

Global Self Storage (NASDAQ:SELF) last released its earnings results on Friday, August 7th. The financial services provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.21 million during the quarter, compared to the consensus estimate of $3.15 million.

Global Self Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.0725 per share. This represents a $0.29 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Wednesday, September 16th. Global Self Storage’s payout ratio is currently 161.11%.

About Global Self Storage

Global Self Storage, Inc (NASDAQ:SELF) is a self-administered and self-managed real estate investment trust (REIT) focused on owning, operating, acquiring and developing self-storage facilities in the United States. Its properties provide individuals and businesses with space to store household goods, personal belongings, business inventory, vehicles and other items.

The company generates revenue primarily from rental income. Its facilities generally offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, security systems, online rentals and payment services.