BlackRock Inc. Buys New Position in Global Self Storage, Inc. $SELF

Key Points

• BlackRock acquired 397,495 shares of Global Self Storage in the second quarter, worth approximately $2.08 million and representing a 3.48% stake. Institutional investors collectively own 28.88% of the company.
• Global Self Storage received a rating upgrade from Weiss Ratings to “buy,” while the stock has a consensus “Buy” rating from analysts.
• The company exceeded quarterly expectations, reporting earnings of $0.07 per share and revenue of $3.21 million. It also declared a quarterly dividend of $0.0725 per share, equivalent to a 5.6% annual yield.

BlackRock Inc. bought a new position in shares of Global Self Storage, Inc. (NASDAQ:SELF - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 397,495 shares of the financial services provider's stock, valued at approximately $2,083,000. BlackRock Inc. owned 3.48% of Global Self Storage as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SELF. Hsbc Holdings PLC bought a new position in shares of Global Self Storage during the 1st quarter valued at about $88,000. Private Capital Management LLC bought a new stake in shares of Global Self Storage in the 4th quarter worth approximately $61,000. Royal Bank of Canada bought a new stake in shares of Global Self Storage in the 4th quarter worth approximately $129,000. Winmill & CO. Inc. lifted its stake in Global Self Storage by 14.0% during the fourth quarter. Winmill & CO. Inc. now owns 586,500 shares of the financial services provider's stock valued at $2,991,000 after purchasing an additional 71,907 shares during the last quarter. Finally, Crossingbridge Advisors LLC lifted its stake in Global Self Storage by 3,427.1% during the fourth quarter. Crossingbridge Advisors LLC now owns 35,271 shares of the financial services provider's stock valued at $178,000 after purchasing an additional 34,271 shares during the last quarter. 28.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Global Self Storage from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Global Self Storage Stock Performance

Shares of NASDAQ:SELF opened at $5.22 on Friday. The firm has a 50 day simple moving average of $5.24 and a 200 day simple moving average of $5.20. Global Self Storage, Inc. has a 52 week low of $4.73 and a 52 week high of $5.75. The company has a market cap of $59.61 million and a PE ratio of 29.00.

Global Self Storage (NASDAQ:SELF - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The financial services provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $3.21 million for the quarter, compared to analysts' expectations of $3.15 million. Global Self Storage had a net margin of 16.64% and a return on equity of 4.57%.

Global Self Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th 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 of this dividend is Wednesday, September 16th. Global Self Storage's payout ratio is presently 161.11%.

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.

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