Global Self Storage, Inc. (NASDAQ:SELF) Short Interest Down 75.7% in July

Global Self Storage, Inc. (NASDAQ:SELF) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 20,099 shares, a decline of 75.7% from the July 15th total of 82,751 shares. Based on an average daily trading volume, of 21,170 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.2% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Global Self Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Global Self Storage Trading Up 0.6%

Shares of NASDAQ SELF traded up $0.03 during midday trading on Thursday, reaching $5.16. The company had a trading volume of 21,861 shares, compared to its average volume of 26,589. The business’s 50-day simple moving average is $5.14 and its 200 day simple moving average is $5.16. The stock has a market cap of $58.93 million and a P/E ratio of 28.67. Global Self Storage has a 1 year low of $4.73 and a 1 year high of $5.63.

Global Self Storage (NASDAQ:SELF) last announced its quarterly earnings data on Friday, August 7th. The financial services provider reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Global Self Storage had a net margin of 16.64% and a return on equity of 4.56%. The firm had revenue of $3.21 million for the quarter, compared to analyst estimates of $3.15 million.

Global Self Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 yield of 5.6%. Global Self Storage’s payout ratio is currently 161.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Winmill & CO. Inc. purchased a new position in shares of Global Self Storage in the second quarter worth about $3,073,000. BlackRock Inc. purchased a new stake in Global Self Storage in the second quarter valued at approximately $2,083,000. Geode Capital Management LLC increased its holdings in Global Self Storage by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 144,144 shares of the financial services provider’s stock worth $735,000 after buying an additional 2,867 shares during the period. Dimensional Fund Advisors LP increased its holdings in Global Self Storage by 3.4% in the 3rd 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 period. Finally, Easterly Investment Partners LLC purchased a new position in Global Self Storage during the 4th quarter worth approximately $250,000. 28.88% of the stock is owned by institutional investors and hedge funds.

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.