Global Self Storage (NASDAQ:SELF) Shares Cross Below 50-Day Moving Average – Here’s Why

Global Self Storage, Inc. (NASDAQ:SELF) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.27 and traded as low as $5.10. Global Self Storage shares last traded at $5.13, with a volume of 5,977 shares changing hands.

Analysts Set New Price Targets

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

Global Self Storage Trading Up 0.4%

The company has a market capitalization of $59.04 million and a PE ratio of 30.41. The stock has a fifty day moving average of $5.27 and a two-hundred day moving average of $5.14.

Global Self Storage (NASDAQ:SELF) last posted its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Global Self Storage had a net margin of 15.37% and a return on equity of 4.19%. The business had revenue of $3.17 million for the quarter, compared to analysts’ expectations of $3.08 million.

Global Self Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.0725 per share. This represents a $0.29 annualized dividend and a yield of 5.6%. The ex-dividend date is Monday, June 15th. Global Self Storage’s dividend payout ratio is presently 170.59%.

Institutional Trading of Global Self Storage

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Global Self Storage by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 61,131 shares of the financial services provider’s stock valued at $307,000 after buying an additional 2,032 shares during the period. Geode Capital Management LLC increased its stake in shares of Global Self Storage by 2.0% in the fourth 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. Raymond James Financial Inc. increased its stake in shares of Global Self Storage by 20.4% in the second quarter. Raymond James Financial Inc. now owns 18,758 shares of the financial services provider’s stock worth $100,000 after buying an additional 3,179 shares during the period. PFG Investments LLC increased its stake in shares of Global Self Storage by 12.3% in the fourth quarter. PFG Investments LLC now owns 35,194 shares of the financial services provider’s stock worth $179,000 after buying an additional 3,842 shares during the period. Finally, Baker Ellis Asset Management LLC increased its stake in shares of Global Self Storage by 18.2% in the fourth quarter. Baker Ellis Asset Management LLC now owns 39,000 shares of the financial services provider’s stock worth $199,000 after buying an additional 6,000 shares during the period. 28.88% of the stock is currently owned by hedge funds and other institutional investors.

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.