Safestore (LON:SAFE) Hits New 52-Week Low – Here’s Why

Shares of Safestore Holdings Plc (LON:SAFE) reached a new 52-week low on Wednesday. The company traded as low as GBX 498 and last traded at GBX 511, with a volume of 336648 shares changing hands. The stock had previously closed at GBX 501.

Analyst Ratings Changes

SAFE has been the topic of a number of recent analyst reports. Peel Hunt reissued an “add” rating and issued a GBX 640 price target on shares of Safestore in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 700 price objective on shares of Safestore in a research note on Friday, September 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 788 target price on shares of Safestore in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 709.33.

Safestore Stock Performance

The company has a 50-day moving average of GBX 568.22 and a 200 day moving average of GBX 612.88. The company has a quick ratio of 0.90, a current ratio of 0.39 and a debt-to-equity ratio of 49.06. The firm has a market capitalization of £1.09 billion, a PE ratio of 16.79, a PEG ratio of 2.05 and a beta of 1.14.

Insider Transactions at Safestore

In related news, insider Simon Clinton acquired 6,258 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were bought at an average cost of GBX 556 per share, for a total transaction of £34,794.48. Also, insider Frederic Vecchioli sold 15,251 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of GBX 584, for a total transaction of £89,065.84. Company insiders own 7.95% of the company’s stock.

Safestore Company Profile

Safestore Holdings plc (LSE: SAFE) is the UK’s largest self-storage group and a constituent of the FTSE-250 Index. Founded in 1998, Safestore provides flexible, affordable storage solutions to residential and business customers, operating as a Real Estate Investment Trust (REIT). The Group is headquartered in Borehamwood and listed on the Main Market of the London Stock Exchange.

Safestore is the UK’s largest self-storage group with 215 stores across seven European countries, including over 140 stores in the UK – of which, 79 are in London and the South East, with further locations in Manchester, Birmingham, Glasgow, Edinburgh, Bristol, and Leeds.