Global Self Storage, Inc. (NASDAQ:SELF) Short Interest Down 32.1% in December

Global Self Storage, Inc. (NASDAQ:SELF) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 11,200 shares, a decline of 32.1% from the December 15th total of 16,500 shares. Based on an average trading volume of 15,600 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on shares of Global Self Storage in a research note on Friday, October 18th. They issued a “buy” rating and a $6.50 price objective on the stock.

Hedge Funds Weigh In On Global Self Storage

Several institutional investors and hedge funds have recently modified their holdings of SELF. Dimensional Fund Advisors LP raised its stake in shares of Global Self Storage by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 55,866 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 2,152 shares in the last quarter. Crossingbridge Advisors LLC acquired a new stake in Global Self Storage in the third quarter valued at approximately $526,000. Finally, Northwest Capital Management Inc bought a new stake in Global Self Storage in the third quarter worth approximately $4,734,000. 28.88% of the stock is currently owned by hedge funds and other institutional investors.

Global Self Storage Stock Performance

Shares of NASDAQ SELF traded up $0.09 during trading on Friday, hitting $5.22. The company had a trading volume of 1,599 shares, compared to its average volume of 11,888. Global Self Storage has a 52 week low of $4.01 and a 52 week high of $5.85. The business’s 50-day moving average is $5.17 and its 200 day moving average is $5.10. The company has a market cap of $58.77 million, a P/E ratio of 19.31 and a beta of 0.24.

Global Self Storage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a dividend of $0.0725 per share. This is an increase from Global Self Storage’s previous quarterly dividend of $0.07. This represents a $0.29 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend was Monday, December 16th. Global Self Storage’s payout ratio is 107.41%.

About Global Self Storage

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.