Safestore (LON:SAFE) Hits New 12-Month Low - Here's What Happened

Key Points

• Safestore shares fell 4.4%, hitting a new 52-week low of GBX 500.50 before last trading at GBX 502.50, significantly below its 50-day and 200-day moving averages.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of GBX 709.33, implying substantial upside from the current price.
• Insider activity was mixed: Simon Clinton bought 6,258 shares, while Frederic Vecchioli sold 15,251 shares; insiders collectively own 7.91% of the company.

Shares of Safestore Holdings Plc (LON:SAFE - Get Free Report) reached a new 52-week low during trading on Thursday. The stock traded as low as GBX 500.50 and last traded at GBX 502.50, with a volume of 81222703 shares traded. The stock had previously closed at GBX 525.50.

Wall Street Analysts Forecast Growth

SAFE has been the topic of several analyst reports. Jefferies Financial Group restated a "buy" rating and set a GBX 788 price objective on shares of Safestore in a report on Friday, September 4th. Peel Hunt reaffirmed an "add" rating and issued a GBX 640 target price on shares of Safestore in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 700 target price on shares of Safestore in a report 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. According to MarketBeat.com, Safestore presently has a consensus rating of "Moderate Buy" and an average price target of GBX 709.33.

Safestore Trading Down 4.4%

The firm's 50 day simple moving average is GBX 582.04 and its 200-day simple moving average is GBX 619.69. The company has a market capitalization of £1.10 billion, a PE ratio of 16.92, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a quick ratio of 0.90, a current ratio of 0.39 and a debt-to-equity ratio of 49.06.

Insider Activity

In related news, insider Simon Clinton acquired 6,258 shares of Safestore stock in a transaction on Friday, September 4th. The shares were bought at an average price of GBX 556 per share, for a total transaction of £34,794.48. Also, insider Frederic Vecchioli sold 15,251 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of GBX 584, for a total value of £89,065.84. Company insiders own 7.91% of the company's stock.

About Safestore

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.

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