Global Self Storage (NASDAQ:SELF) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Shares of Global Self Storage, Inc. (NASDAQ:SELF) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.11 and traded as high as $5.22. Global Self Storage shares last traded at $5.21, with a volume of 14,327 shares changing hands.

Analysts Set New Price Targets

Separately, Alliance Global Partners assumed 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 target for the company.

Global Self Storage Stock Performance

The company has a 50 day moving average of $5.11 and a 200 day moving average of $5.05. The stock has a market capitalization of $58.72 million, a price-to-earnings ratio of 19.30 and a beta of 0.26.

Global Self Storage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.0725 per share. The ex-dividend date is Monday, December 16th. This is an increase from Global Self Storage’s previous quarterly dividend of $0.07. This represents a $0.29 dividend on an annualized basis and a dividend yield of 5.57%. Global Self Storage’s payout ratio is currently 107.41%.

Institutional Trading of Global Self Storage

Hedge funds have recently added to or reduced their stakes in the company. Crossingbridge Advisors LLC acquired a new position in Global Self Storage during the 3rd quarter worth approximately $526,000. Northwest Capital Management Inc acquired a new position in shares of Global Self Storage during the third quarter worth $4,734,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Global Self Storage by 4.0% during the second 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. Institutional investors and hedge funds own 28.88% of the company’s stock.

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.