Safestore (LON:SAFE) Sets New 1-Year Low - Here's Why

Key Points

• Safestore shares hit a new 52-week low, falling as low as GBX 498 before closing at GBX 511, below both their 50-day and 200-day moving averages.
• Analysts remain broadly positive, with an average rating of “Moderate Buy” and a consensus price target of GBX 709.33, well above the current share price.
• Insider activity was mixed: Simon Clinton bought 6,258 shares, while Frederic Vecchioli sold 15,251 shares; insiders own 7.91% of the company.

Safestore Holdings Plc (LON:SAFE - Get Free Report)'s share price 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 trading hands. The stock had previously closed at GBX 501.

Analysts Set New Price Targets

Several brokerages have weighed in on SAFE. Jefferies Financial Group reissued a "buy" rating and set a GBX 788 price objective on shares of Safestore in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 700 price objective on shares of Safestore in a research note on Friday, September 4th. Finally, Peel Hunt restated an "add" rating and set a GBX 640 target price on shares of Safestore in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of GBX 709.33.

Safestore Price Performance

The business's 50-day moving average price is GBX 573.01 and its 200 day moving average price is GBX 614.89. The company has a market capitalization of £1.11 billion, a P/E ratio of 17.06, a price-to-earnings-growth 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 Buying and Selling at Safestore

In other news, insider Simon Clinton purchased 6,258 shares of Safestore stock in a transaction dated Friday, September 4th. The stock was purchased 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 company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of GBX 584, for a total transaction of £89,065.84. 7.91% of the stock is owned by company insiders.

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.

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