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

Key Points

• Short interest fell by 21.8% to 13,925 shares as of March 31, leaving a 0.6 days-to-cover ratio and only about 0.1% of the stock sold short.
• The company paid a quarterly dividend of $0.0725 (annualized $0.29), implying a 5.4% yield, but the dividend payout ratio is an elevated 161.11%.
• Global Self Storage reported Q results with EPS $0.03 versus a $0.06 consensus (miss) and revenue of $3.16M (vs. $3.13M estimate); the stock trades around $5.41 with a market cap near $61M.

Global Self Storage, Inc. (NASDAQ:SELF - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 13,925 shares, a decrease of 21.8% from the March 15th total of 17,799 shares. Based on an average daily volume of 25,313 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company's stock are sold short.

Global Self Storage Stock Up 0.9%

Shares of SELF opened at $5.41 on Wednesday. The company's fifty day moving average is $5.11 and its 200-day moving average is $5.06. Global Self Storage has a 12 month low of $4.73 and a 12 month high of $5.89. The firm has a market cap of $61.35 million, a price-to-earnings ratio of 30.06 and a beta of -0.03.

Global Self Storage (NASDAQ:SELF - Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The financial services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $3.16 million for the quarter, compared to analyst estimates of $3.13 million. Global Self Storage had a return on equity of 4.34% and a net margin of 16.04%.

Global Self Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a dividend of $0.0725 per share. This represents a $0.29 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, March 16th. Global Self Storage's dividend payout ratio is currently 161.11%.

Institutional Trading of Global Self Storage

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Global Self Storage during the 3rd quarter worth $54,000. Private Capital Management LLC bought a new stake in shares of Global Self Storage during the 4th quarter worth $61,000. Goldman Sachs Group Inc. bought a new stake in shares of Global Self Storage during the 4th quarter worth $99,000. Raymond James Financial Inc. boosted its holdings in shares of Global Self Storage by 20.4% during the 2nd 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. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Global Self Storage during the 4th quarter worth $118,000. 28.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Global Self Storage in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Global Self Storage Company Profile

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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