Safestore Holdings PLC (GB:SAFE)
LSE:SAFE
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Safestore Holdings
(LSE:SAFE)
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Rating:68Neutral
Price Target:
705.00 p
▲(9.05% Upside)
Action:DowngradedDate:01/17/26
The score is driven mainly by solid balance-sheet positioning and recovering cash flow, offset by volatility in reported earnings and uneven free-cash-flow reliability. Technicals are positive but appear overbought, while valuation is fair with a supportive dividend.
Positive Factors
Balance-sheet strength
Equity growth and a debt-to-equity range near 0.40–0.51 give Safestore durable financial flexibility. A stronger equity base supports investment in new sites, extensions and resilience through cycles, lowering refinancing and covenant stress over the medium term.
Negative Factors
Earnings volatility
Material year-to-year swings and apparent one-offs make core earnings power hard to isolate. For a REIT, unpredictable reported profits complicate forecasting of distributable cash, dividend planning and capital allocation, raising long-term execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Equity growth and a debt-to-equity range near 0.40–0.51 give Safestore durable financial flexibility. A stronger equity base supports investment in new sites, extensions and resilience through cycles, lowering refinancing and covenant stress over the medium term.
Read all positive factors
Safestore Holdings (SAFE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.41B
Dividend Yield4.25%
Average Volume (3M)592.40K
Price to Earnings (P/E)12.3
Beta (1Y)1.15
Revenue Growth1.66%
EPS Growth11.42%
CountryUK
Employees804
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)N/A
Shares Outstanding218,490,500
10 Day Avg. Volume583,592
30 Day Avg. Volume592,400
Financial Highlights & Ratios
PEG Ratio-0.20
Price to Book (P/B)0.68
Price to Sales (P/S)6.67
P/FCF Ratio16.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£831.00Price Target Upside28.54% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Safestore Holdings Business Overview & Revenue Model
Company Description
Safestore is the UK's largest self-storage group with 163 stores, comprising 125 wholly owned stores in the UK (including over 70 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Ed...
How the Company Makes Money
Safestore primarily makes money by renting self-storage space to customers on short-to-medium term agreements, generating recurring revenue from unit fees charged based on factors such as unit size, location, and length of stay. A key driver of ea...
Safestore Holdings Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 234.30M | 223.50M | 224.20M | 212.50M | 186.80M |
| Gross Profit | 152.90M | 149.80M | 154.30M | 149.50M | 129.90M |
| EBITDA | 161.30M | 425.80M | 229.50M | 124.50M | 102.20M |
| Net Income | 111.10M | 372.30M | 200.20M | 462.90M | 382.00M |
Balance Sheet | |||||
| Total Assets | 3.59B | 3.36B | 2.96B | 2.71B | 2.12B |
| Cash, Cash Equivalents and Short-Term Investments | 11.00M | 25.30M | 16.90M | 20.90M | 43.20M |
| Total Debt | 1.07B | 924.80M | 827.20M | 719.20M | 567.00M |
| Total Liabilities | 1.30B | 1.13B | 1.02B | 914.10M | 742.40M |
| Stockholders Equity | 2.29B | 2.23B | 1.94B | 1.79B | 1.37B |
Cash Flow | |||||
| Free Cash Flow | 96.80M | -24.20M | -23.90M | 13.60M | 96.00M |
| Operating Cash Flow | 99.90M | 95.90M | 98.00M | 109.80M | 97.00M |
| Investing Cash Flow | -142.10M | -122.60M | -124.20M | -200.90M | -66.20M |
| Financing Cash Flow | 28.30M | 35.40M | 22.30M | 69.00M | -6.30M |
Safestore Holdings Technical Analysis
Negative
646.50
Price Trends
747.43
Negative
724.57
Negative
687.36
Negative
Market Momentum
-30.06
Positive
30.33
Neutral
38.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SAFE, the sentiment is Negative. The current price of 646.5 is below the 20-day moving average (MA) of 695.45, below the 50-day MA of 747.43, and below the 200-day MA of 687.36, indicating a bearish trend. The MACD of -30.06 indicates Positive momentum. The RSI at 30.33 is Neutral, neither overbought nor oversold. The STOCH value of 38.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:SAFE.
Safestore Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £1.48B | 4.93 | 12.27% | 5.71% | 4.80% | 37.75% | |
68 Neutral | £1.41B | 12.28 | 13.69% | 4.25% | 1.66% | 11.42% | |
68 Neutral | £1.71B | 6.40 | 5.06% | 4.54% | 1.81% | -51.09% | |
67 Neutral | £1.18B | 2.45 | 10.25% | 3.62% | -8.66% | 553.35% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | £1.60B | 7.17 | 11.77% | 4.33% | 16.30% | ― | |
63 Neutral | £1.71B | 7.33 | 4.48% | 3.93% | 2.30% | ― |
* Real Estate Sector Average
GB:SAFE
Safestore Holdings
646.50
67.75
11.71%
GB:BYG
Big Yellow Group
873.00
-4.85
-0.55%
GB:DLN
Derwent London plc REIT
1,520.00
-216.52
-12.47%
GB:GRI
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160.00
-35.22
-18.04%
GB:HMSO
Hammerson plc R.E.I.T.
302.60
73.70
32.20%
GB:SRE
Sirius Real Estate
93.80
13.17
16.34%
Safestore Holdings Corporate Events
Regulatory Filings and Compliance
Safestore Non-Executive Director Buys Shares on London Stock Exchange
Positive
Mar 25, 2026
Safestore Holdings has disclosed a share purchase by non-executive director and PDMR Delphine Mousseau. She acquired 1,500 ordinary shares of 1p each in the company at a price of £6.56 per share on 23 March 2026 on the London Stock Exchange.T...
Other
Safestore CFO Boosts Stake With Share Purchase on London Market
Positive
Mar 23, 2026
Safestore Holdings plc disclosed that its chief financial officer, Simon Clinton, has purchased 6,166 ordinary shares in the company on the London Stock Exchange. The transaction, executed on 23 March 2026 at a price of £6.13049 per share for...
Business Operations and StrategyExecutive/Board Changes
Safestore grants fresh long-term incentive awards to top executives
Positive
Mar 20, 2026
Safestore Holdings has granted new nil-cost share options to chief executive Frederic Vecchioli and chief financial officer Simon Clinton under its 2020 Long Term Incentive Plan. Vecchioli received options over 324,219 ordinary shares and Clinton ...
Business Operations and StrategyStock BuybackDividendsShareholder Meetings
Safestore Shareholders Approve All Resolutions at 2026 AGM
Positive
Mar 18, 2026
Safestore Holdings reported that all resolutions at its 2026 Annual General Meeting in Borehamwood were approved by shareholders via poll, with turnout representing around 88% of issued share capital. Investors backed the receipt of the annual rep...
Business Operations and StrategyFinancial Disclosures
Safestore posts higher Q1 revenue as European expansion drives growth
Positive
Feb 19, 2026
Safestore reported a solid start to its new financial year, with group revenue for the quarter to 31 January 2026 rising 6.3% at constant exchange rates to £61.2m, driven by both like-for-like growth and contributions from new stores. The com...
Financial Disclosures
Safestore Sets Date for First-Quarter 2026 Trading Update
Neutral
Feb 12, 2026
Safestore Holdings plc announced that it will publish its trading update for the first quarter, covering the three months ended 31 January 2026, on 19 February 2026. The scheduled update will give investors and other stakeholders an early view of ...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Safestore publishes 2025 annual report and sets date for 2026 AGM
Neutral
Feb 11, 2026
Safestore Holdings has published its Annual Report and Accounts for the year ended 31 October 2025 and released the notice of its 2026 Annual General Meeting. The documents are available on the company’s website and via the UK Financial Cond...
Business Operations and StrategyDividendsFinancial Disclosures
Safestore Boosts Revenue and Expands Estate as Earnings Near Inflection Point
Positive
Jan 15, 2026
Safestore reported a solid operational performance for the year to 31 October 2025, with group revenue up 5% at constant exchange rates to £234.3m and like-for-like revenue up 3.1%, supported by positive trends across all geographies and part...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.