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

Safestore Holdings Plc (LON:SAFE) 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 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 Stock Performance

The stock’s 50-day moving average is GBX 695.16 and its 200 day moving average is GBX 792.20. The stock has a market cap 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 debt-to-equity ratio of 42.94, a current ratio of 0.42 and a quick ratio of 0.90.

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 issued a GBX 20.40 ($0.25) dividend. This is a boost from Safestore’s previous dividend of $10.00. This represents a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, March 13th. Safestore’s dividend payout ratio (DPR) is currently 2,479.34%.

Insider Buying and Selling

In related news, insider Avis Darzins acquired 1,581 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average price of GBX 628 ($7.64) per share, with a total value of £9,928.68 ($12,080.16). 2.77% of the stock is currently owned by corporate 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.