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

Safestore Holdings Plc (LON:SAFE)’s stock price dropped 10.2% during trading on Thursday . The stock traded as low as GBX 591 ($7.19) and last traded at GBX 596.50 ($7.26). 1,288,420 shares were traded during trading, a decline of 74% from the average daily 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 two-hundred day simple moving average of GBX 792.20. The company has a quick ratio of 0.90, a current ratio of 0.42 and a debt-to-equity ratio of 42.94. The stock has a market capitalization of £1.36 billion, a price-to-earnings ratio of 515.70, a P/E/G ratio of 2.05 and a beta of 0.86.

Safestore Increases Dividend

The company also recently announced 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. The ex-dividend date is Thursday, March 13th. This represents a yield of 3.42%. This is a boost from Safestore’s previous dividend of $10.00. Safestore’s dividend payout ratio (DPR) is currently 2,479.34%.

Insiders Place Their Bets

In related news, insider Avis Darzins acquired 1,581 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was bought at an average price of GBX 628 ($7.64) per share, for a total transaction of £9,928.68 ($12,080.16). 2.77% of the stock is owned by company insiders.

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.