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

Safestore Holdings Plc (LON:SAFE) dropped 10.2% during trading on Thursday . The company 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 Stock Performance

The company’s fifty day moving average price is GBX 695.16 and its two-hundred day moving average price is 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. The firm 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.

Safestore Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, April 15th. Shareholders 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 an increase from Safestore’s previous dividend of $10.00. Safestore’s dividend payout ratio (DPR) is currently 2,479.34%.

Insider Activity

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

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.