Safestore (LON:SAFE) Shares Climb 1.1% – Here’s What Happened

Safestore Holdings Plc (LON:SAFE) shares rose 1.1% during trading on Friday. The company traded as high as GBX 567.50 and last traded at GBX 567. Approximately 53,799,141 shares traded hands during mid-day trading, an increase of 2,048% from the average daily volume of 2,504,632 shares. The stock had previously closed at GBX 561.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SAFE shares. Deutsche Bank restated a “hold” rating and issued a GBX 700 price objective on shares of Safestore in a report on Friday, September 4th. Jefferies Financial Group dropped their price target on shares of Safestore from GBX 604 to GBX 64 and set a “buy” rating on the stock in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Safestore currently has a consensus rating of “Moderate Buy” and an average target price of GBX 468.

Safestore Trading Up 1.1%

The firm has a market capitalization of £1.24 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.05 and a beta of 1.19. The company has a quick ratio of 0.90, a current ratio of 0.39 and a debt-to-equity ratio of 49.06. The firm’s 50 day moving average is GBX 533.68 and its 200 day moving average is GBX 631.39.

Insider Buying and Selling at Safestore

In related news, insider Simon Clinton acquired 6,258 shares of Safestore stock in a transaction dated Friday, September 4th. The stock was acquired at an average cost of GBX 556 per share, with a total value of £34,794.48. Also, insider Jane Bentall acquired 17,000 shares of Safestore stock in a transaction dated Wednesday, October 14th. The shares were bought at an average cost of GBX 508 per share, with a total value of £86,360. 7.95% of the stock is owned by corporate insiders.

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.