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

Safestore Holdings Plc (LON:SAFE)’s stock price fell 10.2% during trading on Friday . The stock traded as low as GBX 591 ($7.19) and last traded at GBX 596.50 ($7.26). 1,288,420 shares changed hands during trading, a decline of 74% from the average session volume of 4,929,729 shares. The stock had previously closed at GBX 664.50 ($8.08).

Safestore Price Performance

The business has a 50 day simple moving average of GBX 695.16 and a 200-day simple moving average of GBX 792.20. The company has a market capitalization of £1.36 billion, a P/E ratio of 515.70, a PEG ratio of 2.05 and a beta of 0.86. The company has a quick ratio of 0.90, a current ratio of 0.42 and a debt-to-equity ratio of 42.94.

Safestore Increases Dividend

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

Insider Activity

In related news, insider Avis Darzins purchased 1,581 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average cost of GBX 628 ($7.64) per share, for a total transaction of £9,928.68 ($12,080.16). Insiders own 2.77% of the company’s stock.

About Safestore

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.