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

Shares of Safestore Holdings Plc (LON:SAFE) traded down 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 traded hands during mid-day 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 company 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. The company has a fifty day simple moving average of GBX 695.16 and a two-hundred day simple moving average of GBX 792.20. 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 firm also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 13th will be given a GBX 20.40 ($0.25) dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a dividend yield of 3.42%. This is an increase from Safestore’s previous dividend of $10.00. Safestore’s payout ratio is currently 2,479.34%.

Insider Buying and Selling

In other Safestore news, insider Avis Darzins purchased 1,581 shares of the 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). 2.77% of the stock is currently owned by company 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.