Safestore (LON:SAFE) Shares Down 10.2% – Time to Sell?

Safestore Holdings Plc (LON:SAFE)’s share price 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 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 Trading Up 4.6 %

The business’s 50 day simple moving average is GBX 695.16 and its 200 day simple moving average is GBX 792.20. The company has a debt-to-equity ratio of 42.94, a current ratio of 0.42 and a quick ratio of 0.90. The company has a market capitalization of £1.36 billion, a price-to-earnings 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. Investors of record on Thursday, March 13th will be given a GBX 20.40 ($0.25) dividend. This represents a yield of 3.42%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Safestore’s previous dividend of $10.00. Safestore’s payout ratio is 2,479.34%.

Insider Buying and Selling at Safestore

In related news, insider Avis Darzins bought 1,581 shares of the stock in a transaction on Thursday, January 16th. The shares were bought at an average cost of GBX 628 ($7.64) per share, for a total transaction of £9,928.68 ($12,080.16). 2.77% of the stock is owned by company 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.