Winmill & Co. Inc., an investment advisory firm, recently made significant purchases of Global Self Storage, Inc. (NASDAQ:SELF) stock, according to the latest SEC filings. The company acquired a total of 7,327 shares across two separate transactions, spending over $37,000.
On August 20, 2024, Winmill & Co. bought 4,803 shares of Global Self Storage at a price of $5.0913 per share. The following day, the firm added an additional 2,524 shares to its holdings, this time at a slightly higher price of $5.1202 per share. These transactions have increased Winmill & Co.'s ownership in the self-storage REIT, reflecting a growing interest in the company's stock.
The SEC filing also clarifies the relationship between Winmill & Co. and Global Self Storage. The Winmill Family Trust, which owns all of the voting stock of Winmill & Co., is an affiliate of the issuer. Thomas B. Winmill and Mark C. Winmill, as trustees of the Winmill Family Trust, may be deemed to have indirect beneficial ownership of the shares held by Winmill & Co. However, the filing includes a disclaimer of beneficial ownership for these shares by Thomas B. Winmill, Mark C. Winmill, and the Winmill Family Trust.
The signature on the SEC document was provided by Russell Kamerman, acting on behalf of Winmill & Co. Incorporated, with the date of the filing marked as August 21, 2024.
These stock purchases by Winmill & Co. Inc. highlight ongoing investment activities in the real estate investment trust sector and may be of interest to investors monitoring insider transactions.
In other recent news, Global Self Storage, Inc. has disclosed two significant developments. Firstly, the company has renewed its $15 million revolving credit facility with The Huntington National Bank for an additional three years, with the option for a one-year extension. This move is a part of the company's strategy to bolster its balance sheet and support growth initiatives, including acquisitions and expansions.
Secondly, the company has declined a buyout offer from Etude Storage Partners LLC. The proposal suggested purchasing all outstanding shares of Global Self Storage for $6.15 each in cash. However, the company's Board of Directors unanimously deemed the offer insufficient, believing that executing the company's strategic business plan will yield greater long-term value for shareholders.
These recent developments highlight Global Self Storage's commitment to its strategic initiatives, which include funding acquisitions, expanding existing properties, and enhancing key performance indicators like funds from operations and adjusted funds from operations. The company's management team is confident in their ability to continue executing this strategic business plan, which is regularly reviewed by the board of directors. Investors can find additional details of these developments in the company's current report on Form 8-K filed with the U.S. Securities and Exchange Commission.
InvestingPro Insights
Global Self Storage, Inc. (NASDAQ:SELF) has been the subject of recent investment activity, with Winmill & Co. Inc. increasing their stake in the company. As investors evaluate the implications of this insider buying, it's worth considering a few key financial metrics and insights provided by InvestingPro.
With a market capitalization of $58.59 million, Global Self Storage operates with a moderate level of debt and has been profitable over the last twelve months. The company's P/E ratio stands at 25.98, which may suggest a higher valuation relative to earnings. However, a notable InvestingPro Tip for Global Self Storage is that the company's liquid assets exceed its short-term obligations, indicating a solid liquidity position.
Investors may also be interested in the company's dividend yield, which is currently at 5.71%, paired with a recent ex-date for the last dividend on June 17, 2024. In terms of performance, Global Self Storage's price is at 88.55% of its 52-week high, and the stock has seen a year-to-date price total return of 13.17%.
For those looking for additional insights, InvestingPro offers more tips on Global Self Storage, which can be accessed at https://www.investing.com/pro/SELF. These tips can provide investors with further analysis that may help in making informed decisions regarding their investment in the company.
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