Safestore (LON:SAFE) Stock Price Down 10.2% - Here's What Happened

Safestore Holdings Plc (LON:SAFE - Get Free Report) dropped 10.2% during trading on Friday . The stock traded as low as GBX 591 ($7.23) and last traded at GBX 596.50 ($7.30). 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 ($8.13).

Safestore Stock Up 4.6 %

The business's 50 day simple moving average is GBX 698.67 and its 200 day simple moving average is GBX 793.37. The company has a market capitalization of £1.36 billion, a PE 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 business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be issued a GBX 20.40 ($0.25) dividend. This is a positive change from Safestore's previous dividend of $10.00. This represents a yield of 3.42%. The ex-dividend date is Thursday, March 13th. Safestore's payout ratio is 2,479.34%.

Insider Buying and Selling

In other Safestore news, insider Avis Darzins acquired 1,581 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was 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 currently 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.