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) saw a large drop in short interest in August. As of August 15th, there was short interest totaling 25,700 shares, adropof24.6% from the July 31st total of 34,100 shares. Based on an average daily volume of 30,400 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 30,400 shares, the short-interest ratio is currently 0.8 days.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Global Self Storage

Several institutional investors and hedge funds have recently bought and sold shares of SELF. Raymond James Financial Inc. purchased a new stake in shares of Global Self Storage in the 4th quarter valued at approximately $66,000. Baker Ellis Asset Management LLC grew its position in Global Self Storage by 16.7% in the first quarter. Baker Ellis Asset Management LLC now owns 28,000 shares of the financial services provider's stock worth $141,000 after acquiring an additional 4,000 shares during the period. PFG Investments LLC acquired a new stake in Global Self Storage during the first quarter worth $103,000. Financial Gravity Asset Management Inc. acquired a new stake in Global Self Storage during the first quarter worth $32,000. Finally, Ethos Financial Group LLC purchased a new stake in Global Self Storage in the first quarter valued at $129,000. 28.88% of the stock is currently owned by institutional investors and hedge funds.

Global Self Storage Stock Performance

NASDAQ:SELF opened at $5.25 on Monday. Global Self Storage has a one year low of $4.78 and a one year high of $5.89. The stock has a market cap of $59.54 million, a PE ratio of 23.86 and a beta of 0.03. The stock has a 50 day moving average price of $5.27 and a 200 day moving average price of $5.27.

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

Global Self Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.0725 per share. This represents a $0.29 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, September 16th. Global Self Storage's dividend payout ratio (DPR) is presently 131.82%.

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.

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