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

Global Self Storage, Inc. (NASDAQ:SELF) saw 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 currently 1.0 days.

Global Self Storage Stock Performance

SELF stock opened at $5.07 on Monday. The company’s 50-day simple moving average is $5.09 and its 200 day simple moving average is $5.03. Global Self Storage has a 52 week low of $4.01 and a 52 week high of $5.85. The company has a market capitalization of $57.14 million, a PE ratio of 18.78 and a beta of 0.26.

Global Self Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 17th were paid a $0.072 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.29 annualized dividend and a dividend yield of 5.68%. Global Self Storage’s dividend payout ratio (DPR) is presently 107.41%.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners began coverage on shares of Global Self Storage in a research report on Friday, October 18th. They issued a “buy” rating and a $6.50 price objective on the stock.

Hedge Funds Weigh In On Global Self Storage

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Global Self Storage by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 55,866 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 2,152 shares in the last quarter. Crossingbridge Advisors LLC acquired a new position in shares of Global Self Storage in the third quarter valued at about $526,000. Finally, Northwest Capital Management Inc acquired a new position in shares of Global Self Storage in the third quarter valued at about $4,734,000. 28.88% of the stock is currently owned by institutional investors and hedge funds.

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.