Safestore (LON:SAFE) Trading Down 10.2% – Should You Sell?

Safestore Holdings Plc (LON:SAFE)’s stock price dropped 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). Approximately 1,288,420 shares traded hands 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 stock has a 50-day simple moving average of GBX 695.16 and a 200 day simple moving average of GBX 792.20. The stock has a market capitalization of £1.36 billion, a P/E ratio of 515.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. The company has a debt-to-equity ratio of 42.94, a quick ratio of 0.90 and a current ratio of 0.42.

Safestore Increases Dividend

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

Insider Activity

In other Safestore news, insider Avis Darzins bought 1,581 shares of the company’s stock in a transaction on 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). 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.