Safestore (LON:SAFE) Shares Down 10.2% - Here's Why

Safestore Holdings Plc (LON:SAFE - Get Free Report) traded down 10.2% during mid-day trading on Thursday . The company traded as low as GBX 591 ($7.23) and last traded at GBX 596.50 ($7.30). 1,288,420 shares were traded 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 ($8.13).

Safestore Stock Performance

The company has a current ratio of 0.42, a quick ratio of 0.90 and a debt-to-equity ratio of 42.94. The firm has a market cap of £1.36 billion, a PE ratio of 515.70, a PEG ratio of 2.05 and a beta of 0.86. The firm's 50 day simple moving average is GBX 698.67 and its 200 day simple moving average is GBX 793.37.

Safestore Increases Dividend

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

Insider Buying and Selling

In other news, insider Avis Darzins purchased 1,581 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were purchased at an average price of GBX 628 ($7.68) per share, for a total transaction of £9,928.68 ($12,148.15). 2.77% of the stock is owned by corporate 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.