Global Self Storage (NASDAQ:SELF) Stock Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Global Self Storage's stock price fell below its 50-day moving average of $5.27, trading at $5.12, marking a 2.1% decline.
• Wall Street analysts have downgraded the stock from a "buy" to a "hold" rating, with a new consensus price target of $6.50.
• The company announced a dividend of $0.0725 per share, with a payout ratio of 131.82%, indicating that it may be returning more cash than it earns.

Global Self Storage, Inc. (NASDAQ:SELF - Get Free Report)'s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.27 and traded as low as $5.12. Global Self Storage shares last traded at $5.12, with a volume of 48,609 shares changing hands.

Analysts Set New Price Targets

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

Global Self Storage Stock Performance

The stock's 50-day simple moving average is $5.26 and its 200 day simple moving average is $5.27. The company has a market capitalization of $58.29 million, a PE ratio of 23.36 and a beta of 0.03.

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

Global Self Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Global Self Storage's dividend payout ratio is currently 131.82%.

Institutional Investors Weigh In On Global Self Storage

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. grew its stake in 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 last quarter. Baker Ellis Asset Management LLC grew its position in shares of Global Self Storage by 16.7% during 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 last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Global Self Storage in the 1st quarter valued at $32,000. Financial Gravity Companies Inc. acquired a new position in shares of Global Self Storage in the 2nd quarter valued at $34,000. Finally, PFG Investments LLC raised its position in Global Self Storage by 48.5% in the 2nd quarter. PFG Investments LLC now owns 30,224 shares of the financial services provider's stock valued at $161,000 after purchasing an additional 9,869 shares during the last quarter. Hedge funds and other institutional investors own 28.88% of the company's stock.

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.