Global Self Storage, Inc. (NASDAQ:SELF) Short Interest Down 24.6% in August

Key Points

• Global Self Storage, Inc. (NASDAQ:SELF) experienced a significant decrease in short interest, dropping 24.6% in August, from 34,100 shares to 25,700 shares.
• The company has announced a quarterly dividend of $0.0725 per share, reflecting an annualized dividend yield of 5.5%, with the ex-dividend date set for September 16th.
• Wall Street Zen downgraded Global Self Storage from a "buy" to a "hold" rating, while the stock maintains an average target price of $6.50.

Global Self Storage, Inc. (NASDAQ:SELF - Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totaling 25,700 shares, a decline of 24.6% from the July 31st total of 34,100 shares. Based on an average daily trading volume, of 30,400 shares, the short-interest ratio is currently 0.8 days. Based on an average daily trading volume, of 30,400 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On Global Self Storage

Several institutional investors and hedge funds have recently modified their holdings of SELF. Financial Gravity Asset Management Inc. acquired a new position in shares of Global Self Storage in the first quarter valued at $32,000. Financial Gravity Companies Inc. bought a new stake in shares of Global Self Storage in the second quarter valued at about $34,000. Raymond James Financial Inc. bought a new stake in shares of Global Self Storage in the fourth quarter valued at about $66,000. PFG Investments LLC bought a new stake in shares of Global Self Storage in the first quarter valued at about $103,000. Finally, Ritholtz Wealth Management boosted its position in shares of Global Self Storage by 103.4% in the second quarter. Ritholtz Wealth Management now owns 21,852 shares of the financial services provider's stock valued at $117,000 after acquiring an additional 11,109 shares during the period. 28.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Global Self Storage from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $6.50.

Global Self Storage Trading Up 0.6%

Shares of NASDAQ:SELF traded up $0.03 on Friday, hitting $5.15. The company had a trading volume of 11,020 shares, compared to its average volume of 27,890. Global Self Storage has a 1-year low of $4.78 and a 1-year high of $5.89. The stock has a market cap of $58.39 million, a price-to-earnings ratio of 23.41 and a beta of 0.03. The stock has a 50 day moving average price of $5.25 and a 200 day moving average price of $5.26.

Global Self Storage (NASDAQ:SELF - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The financial services provider reported $0.10 EPS for the quarter. Global Self Storage had a net margin of 19.56% and a return on equity of 5.23%. The firm had revenue of $3.19 million for the quarter.

Global Self Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.0725 dividend. This represents a $0.29 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 16th. Global Self Storage's payout ratio is currently 131.82%.

About Global Self Storage

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.