Global Self Storage (NASDAQ:SELF) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Global Self Storage, Inc. (NASDAQ:SELF) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.23 and traded as low as $5.12. Global Self Storage shares last traded at $5.25, with a volume of 14,391 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Global Self Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Global Self Storage has a consensus rating of “Hold”.

Global Self Storage Stock Performance

The firm has a market capitalization of $59.95 million and a PE ratio of 30.88. The business’s 50 day moving average is $5.23 and its two-hundred day moving average is $5.14.

Global Self Storage (NASDAQ:SELF) last issued its earnings results on Friday, May 8th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Global Self Storage had a net margin of 15.37% and a return on equity of 4.19%. The business had revenue of $3.17 million for the quarter, compared to the consensus estimate of $3.08 million.

Global Self Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.0725 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Monday, June 15th. Global Self Storage’s payout ratio is presently 170.59%.

Institutional Trading of Global Self Storage

A number of institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its holdings in Global Self Storage by 158.3% during the 2nd quarter. Cetera Investment Advisers now owns 45,552 shares of the financial services provider’s stock valued at $243,000 after buying an additional 27,914 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Global Self Storage by 20.4% in the second 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Global Self Storage by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 61,131 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 2,032 shares during the period. Virtu Financial LLC bought a new position in shares of Global Self Storage in the third quarter valued at approximately $54,000. Finally, Citadel Advisors LLC bought a new position in shares of Global Self Storage in the third quarter valued at approximately $197,000. Hedge funds and other institutional investors own 28.88% of the company’s stock.

About Global Self Storage

Global Self Storage, Inc (NASDAQ: SELF) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and acquisition of self storage properties across the United States. Headquartered in Denver, Colorado, the company focuses on delivering storage solutions tailored to both personal and commercial customers. Since its formation in 2012, Global Self Storage has built a diversified portfolio designed to meet a range of storage needs—from climate-controlled units to vehicle and business storage options.

The company’s primary business activities include the development of new facilities, the strategic acquisition of existing properties and the repositioning of underperforming assets.