Global Self Storage (NASDAQ:SELF) Trading 4% Higher – Here’s Why

Global Self Storage, Inc. (NASDAQ:SELF) shares rose 4% during trading on Tuesday . The stock traded as high as $5.18 and last traded at $5.15. Approximately 98,121 shares traded hands during trading, an increase of 121% from the average daily volume of 44,357 shares. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Self Storage in a research report on Monday. One research 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 Up 4.0%

The company’s 50 day simple moving average is $5.03 and its two-hundred day simple moving average is $5.17. The company has a market capitalization of $58.40 million, a price-to-earnings ratio of 32.19 and a beta of 0.01.

Global Self Storage (NASDAQ:SELF) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $3.23 million for the quarter. Global Self Storage had a return on equity of 3.81% and a net margin of 14.13%.

Global Self Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.0725 per share. The ex-dividend date is Monday, December 15th. This represents a $0.29 annualized dividend and a dividend yield of 5.6%. Global Self Storage’s dividend payout ratio is 181.25%.

Institutional Trading of Global Self Storage

Several large investors have recently bought and sold shares of the stock. Financial Gravity Companies Inc. acquired a new position in shares of Global Self Storage in the second quarter valued at about $34,000. Virtu Financial LLC purchased a new stake in Global Self Storage in the third quarter valued at approximately $54,000. Raymond James Financial Inc. increased its holdings in Global Self Storage by 20.4% in the 2nd 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 during the period. Ritholtz Wealth Management raised its position in Global Self Storage by 103.4% during the 2nd quarter. Ritholtz Wealth Management now owns 21,852 shares of the financial services provider’s stock worth $117,000 after buying an additional 11,109 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Global Self Storage by 54.5% during the 3rd quarter. NewEdge Advisors LLC now owns 24,100 shares of the financial services provider’s stock worth $121,000 after buying an additional 8,500 shares during the last quarter. Hedge funds and other institutional investors own 28.88% of the company’s stock.

Global Self Storage Company Profile

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.