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

Global Self Storage, Inc. (NASDAQ:SELF) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 16,500 shares, an increase of 18.7% from the November 30th total of 13,900 shares. Based on an average daily volume of 16,400 shares, the days-to-cover ratio is presently 1.0 days.

Global Self Storage Stock Performance

Shares of Global Self Storage stock traded up $0.05 during trading on Tuesday, reaching $5.33. The company had a trading volume of 10,097 shares, compared to its average volume of 33,433. Global Self Storage has a fifty-two week low of $4.01 and a fifty-two week high of $5.85. The firm’s fifty day moving average is $5.14 and its 200-day moving average is $5.06. The company has a market cap of $60.07 million, a price-to-earnings ratio of 19.74 and a beta of 0.26.

Global Self Storage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a dividend of $0.0725 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Monday, December 16th. This is a positive change from Global Self Storage’s previous quarterly dividend of $0.07. Global Self Storage’s dividend payout ratio (DPR) is currently 107.41%.

Institutional Trading of Global Self Storage

A number of large investors have recently added to or reduced their stakes in SELF. Crossingbridge Advisors LLC purchased a new stake in Global Self Storage in the 3rd quarter worth about $526,000. Northwest Capital Management Inc acquired a new position in shares of Global Self Storage in the 3rd quarter valued at about $4,734,000. Finally, Dimensional Fund Advisors LP lifted its position 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 worth $272,000 after purchasing an additional 2,152 shares in the last quarter. 28.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.