Safestore (LON:SAFE) Shares Down 10.2% – Here’s Why

Safestore Holdings Plc (LON:SAFE)’s share price was down 10.2% on Thursday . The company traded as low as GBX 591 ($7.19) and last traded at GBX 596.50 ($7.26). Approximately 1,218,670 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,923,388 shares. The stock had previously closed at GBX 664.50 ($8.08).

Safestore Price Performance

The firm has a market cap of £1.36 billion, a P/E ratio of 515.70, a PEG ratio of 2.05 and a beta of 0.86. The business’s fifty day simple moving average is GBX 695.16 and its 200-day simple moving average is GBX 792.20. The company has a current ratio of 0.42, a quick ratio of 0.90 and a debt-to-equity ratio of 42.94.

Safestore Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be paid a dividend of GBX 20.40 ($0.25) per share. This represents a dividend yield of 3.42%. This is a positive change from Safestore’s previous dividend of $10.00. The ex-dividend date of this dividend is Thursday, March 13th. Safestore’s payout ratio is presently 2,479.34%.

Insiders Place Their Bets

In other news, insider Avis Darzins bought 1,581 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average price of GBX 628 ($7.64) per share, with a total value of £9,928.68 ($12,080.16). 2.77% of the stock is owned by corporate insiders.

Safestore Company Profile

Safestore is the UK's largest self storage group with 190 stores on 31 October 2023, comprising 133 wholly owned stores in the UK (including 73 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool, Sheffield, Leeds, Newcastle, and Bristol), 29 wholly owned stores in the Paris region, 11 stores in Spain, 11 stores in the Netherlands and 6 stores in Belgium.