Short Interest in Global Self Storage, Inc. (NASDAQ:SELF) Decreases By 32.1%

Global Self Storage, Inc. (NASDAQ:SELF) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 11,200 shares, a decline of 32.1% from the December 15th total of 16,500 shares. Based on an average trading volume of 15,600 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

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

Global Self Storage Stock Performance

Shares of SELF stock traded up $0.04 during midday trading on Wednesday, reaching $5.09. 3,508 shares of the company were exchanged, compared to its average volume of 13,268. The company’s 50 day moving average price is $5.16 and its two-hundred day moving average price is $5.09. The company has a market cap of $57.36 million, a P/E ratio of 18.85 and a beta of 0.24. Global Self Storage has a 12 month low of $4.01 and a 12 month high of $5.85.

Global Self Storage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a $0.0725 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 5.70%. This is an increase from Global Self Storage’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Monday, December 16th. Global Self Storage’s dividend payout ratio is 107.41%.

Hedge Funds Weigh In On Global Self Storage

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 2,152 shares during the period. Crossingbridge Advisors LLC acquired a new position in Global Self Storage during the third quarter worth about $526,000. Finally, Northwest Capital Management Inc bought a new stake in Global Self Storage in the third quarter worth about $4,734,000. 28.88% of the stock is owned by institutional investors.

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.