Global Self Storage (NASDAQ:SELF) Shares Pass Below Fifty Day Moving Average - Here's What Happened

Key Points

• Global Self Storage shares fell below their 50-day moving average, reaching $4.97 before closing near $5.03, compared with the $5.22 average.
• The company exceeded quarterly expectations, reporting EPS of $0.07 versus estimates of $0.06 and revenue of $3.21 million against $3.15 million expected.
• Global Self Storage declared a quarterly dividend of $0.0725 per share, equal to an annualized $0.29 and a 5.8% yield; Weiss Ratings also upgraded the stock to “buy.”

Shares of Global Self Storage, Inc. (NASDAQ:SELF - Get Free Report) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.22 and traded as low as $4.97. Global Self Storage shares last traded at $5.03, with a volume of 61,727 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Global Self Storage from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".

Global Self Storage Stock Down 0.4%

The company has a 50-day moving average price of $5.22 and a 200-day moving average price of $5.21. The firm has a market capitalization of $57.44 million and a price-to-earnings ratio of 27.94.

Global Self Storage (NASDAQ:SELF - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The business had revenue of $3.21 million during the quarter, compared to analyst estimates of $3.15 million. Global Self Storage had a return on equity of 4.57% and a net margin of 16.64%.

Global Self Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.0725 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Global Self Storage's dividend payout ratio (DPR) is 161.11%.

Institutional Trading of Global Self Storage

A number of institutional investors have recently made changes to their positions in the stock. Winmill & CO. Inc. bought a new position in Global Self Storage during the 2nd quarter valued at $3,073,000. BlackRock Inc. acquired a new position in shares of Global Self Storage in the 2nd quarter worth approximately $2,083,000. Easterly Investment Partners LLC bought a new position in shares of Global Self Storage in the fourth quarter valued at $250,000. Man Group plc acquired a new stake in shares of Global Self Storage during the second quarter worth $140,000. Finally, Hsbc Holdings PLC acquired a new stake in Global Self Storage during the 1st quarter worth about $88,000. 28.88% of the stock is owned by institutional investors and hedge funds.

Global Self Storage Company Profile

Global Self Storage, Inc NASDAQ: SELF is a real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for household and business customers, with facilities offering units in a range of sizes and, at select locations, vehicle and outdoor storage.

In addition to traditional self-storage rentals, Global Self Storage's services may include online reservations and payments, tenant insurance options, and the sale of moving and packing supplies.

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