Short Interest in Global Self Storage, Inc. (NASDAQ:SELF) Drops By 20.2%

Global Self Storage, Inc. (NASDAQ:SELF) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 16,200 shares, a drop of 20.2% from the October 31st total of 20,300 shares. Based on an average daily volume of 16,800 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On Global Self Storage

A number of hedge funds have recently made changes to their positions in SELF. Northwest Capital Management Inc bought a new stake in shares of Global Self Storage in the 3rd quarter valued at about $4,734,000. Crossingbridge Advisors LLC purchased a new position in Global Self Storage in the 3rd quarter worth approximately $526,000. Finally, Dimensional Fund Advisors LP lifted its position in Global Self Storage by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 55,866 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 2,152 shares during the last quarter. 28.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Alliance Global Partners assumed coverage on 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.

Global Self Storage Stock Down 1.6 %

NASDAQ:SELF traded down $0.08 during mid-day trading on Friday, reaching $5.07. 9,608 shares of the company were exchanged, compared to its average volume of 34,787. The stock has a market cap of $57.14 million, a PE ratio of 18.78 and a beta of 0.26. Global Self Storage has a 12 month low of $4.01 and a 12 month high of $5.85. The company has a fifty day moving average of $5.09 and a 200 day moving average of $5.03.

Global Self Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.072 per share. This represents a $0.29 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend was Tuesday, September 17th. Global Self Storage’s payout ratio is currently 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.