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

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

Safestore Stock Performance

The company has a market capitalization of £1.36 billion, a PE ratio of 515.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. The company has a current ratio of 0.42, a quick ratio of 0.90 and a debt-to-equity ratio of 42.94. The business’s fifty day moving average is GBX 695.16 and its two-hundred day moving average is GBX 792.20.

Safestore Increases Dividend

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

Insider Transactions at Safestore

In related news, insider Avis Darzins acquired 1,581 shares of the stock in a transaction dated Thursday, January 16th. The shares were purchased at an average cost of GBX 628 ($7.64) per share, with a total value of £9,928.68 ($12,080.16). Company insiders own 2.77% of the company’s stock.

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.