Global Self Storage (NASDAQ:SELF) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Global Self Storage, Inc. (NASDAQ:SELF) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.15 and traded as low as $5.05. Global Self Storage shares last traded at $5.06, with a volume of 19,383 shares.

Analysts Set New Price Targets

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

Global Self Storage Stock Up 0.2%

The firm has a market capitalization of $57.79 million and a P/E ratio of 29.76. The company’s 50 day moving average is $5.15 and its 200-day moving average is $5.15.

Global Self Storage (NASDAQ:SELF) last posted its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.17 million during the quarter, compared to the consensus estimate of $3.08 million.

Global Self Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.0725 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. Global Self Storage’s payout ratio is presently 170.59%.

Hedge Funds Weigh In On Global Self Storage

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Global Self Storage by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 61,131 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 2,032 shares during the last quarter. Geode Capital Management LLC increased its holdings in Global Self Storage by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 144,144 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 2,867 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Global Self Storage by 158.3% in the second quarter. Cetera Investment Advisers now owns 45,552 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 27,914 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Global Self Storage in the third quarter worth approximately $197,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Global Self Storage in the fourth quarter valued at approximately $180,000. 28.88% of the stock is currently owned by institutional investors.

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.