Global Self Storage (NASDAQ:SELF) Share Price Crosses Below 50 Day Moving Average - What's Next?

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) shares 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.

Wall Street Analysts Forecast Growth

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

Global Self Storage Price Performance

The firm's 50-day moving average price is $5.26 and its 200 day moving average price is $5.26. The firm has a market cap of $58.50 million, a P/E ratio of 23.46 and a beta of 0.03.

Global Self Storage (NASDAQ:SELF - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.19 million for the quarter.

Global Self Storage Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Winmill & CO. Inc. boosted its holdings in shares of Global Self Storage by 4.2% in the 2nd quarter. Winmill & CO. Inc. now owns 479,042 shares of the financial services provider's stock valued at $2,558,000 after buying an additional 19,280 shares during the period. Crossingbridge Advisors LLC lifted its position in Global Self Storage by 13.2% in the 1st quarter. Crossingbridge Advisors LLC now owns 171,325 shares of the financial services provider's stock valued at $863,000 after purchasing an additional 20,000 shares during the last quarter. Laffer Tengler Investments Inc. bought a new stake in Global Self Storage in the 2nd quarter valued at about $388,000. Cetera Investment Advisers lifted its position in Global Self Storage by 158.3% in the 2nd quarter. Cetera Investment Advisers now owns 45,552 shares of the financial services provider's stock valued at $243,000 after purchasing an additional 27,914 shares during the last quarter. Finally, Baker Ellis Asset Management LLC raised its position in shares of Global Self Storage by 17.9% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 33,000 shares of the financial services provider's stock worth $176,000 after buying an additional 5,000 shares in the last quarter. 28.88% of the stock is owned by institutional investors and hedge funds.

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.