LSE:SAFE

Stock Analysis Report

Executive Summary

Safestore has 117 self storage centres and two business centres in the UK with a further 27 stores in the Paris region.

Snowflake

Fundamentals

Established dividend payer with proven track record.


Similar Companies

Share Price & News

How has Safestore Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.9%

SAFE

2.5%

GB REITs

-0.4%

GB Market


1 Year Return

30.8%

SAFE

6.8%

GB REITs

2.9%

GB Market

Return vs Industry: SAFE exceeded the UK REITs industry which returned 6.8% over the past year.

Return vs Market: SAFE exceeded the UK Market which returned 2.9% over the past year.


Shareholder returns

SAFEIndustryMarket
7 Day-0.9%2.5%-0.4%
30 Day6.0%7.2%-1.4%
90 Day8.1%9.6%-2.1%
1 Year34.4%30.8%11.6%6.8%8.0%2.9%
3 Year102.3%85.3%28.2%10.1%18.0%3.6%
5 Year303.7%247.9%40.2%12.4%35.8%6.4%

Price Volatility Vs. Market

How volatile is Safestore Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Safestore Holdings undervalued compared to its fair value and its price relative to the market?

11.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate SAFE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate SAFE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: SAFE is good value based on its PE Ratio (11.4x) compared to the REITs industry average (13.7x).

PE vs Market: SAFE is good value based on its PE Ratio (11.4x) compared to the UK market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: SAFE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: SAFE is overvalued based on its PB Ratio (1.8x) compared to the GB REITs industry average (0.9x).


Next Steps

Future Growth

How is Safestore Holdings forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

-13.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAFE's earnings are forecast to decline over the next 3 years (-13% per year).

Earnings vs Market: SAFE's earnings are forecast to decline over the next 3 years (-13% per year).

High Growth Earnings: SAFE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SAFE's revenue (3.9% per year) is forecast to grow slower than the UK market (3.9% per year).

High Growth Revenue: SAFE's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SAFE's Return on Equity is forecast to be low in 3 years time (7.5%).


Next Steps

Past Performance

How has Safestore Holdings performed over the past 5 years?

16.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SAFE's earnings have grown by 16.9% per year over the past 5 years.

Accelerating Growth: SAFE's earnings growth over the past year (22.2%) exceeds its 5-year average (16.9% per year).

Earnings vs Industry: SAFE earnings growth over the past year (22.2%) exceeded the REITs industry -16.8%.


Return on Equity

High ROE: SAFE's Return on Equity (15.9%) is considered low.


Return on Assets

ROA vs Industry: SAFE has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: SAFE's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Safestore Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: SAFE has a low level of unsold assets or inventory.

Debt Coverage by Assets: SAFE's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: SAFE's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if SAFE has a sufficient allowance for bad loans.

Low Risk Liabilities: SAFE reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if SAFE has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SAFE has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if SAFE has an appropriate level of bad loans.


Next Steps

Dividend

What is Safestore Holdings's current dividend yield, its reliability and sustainability?

2.35%

Current Dividend Yield


Dividend Yield vs Market

company2.4%marketbottom25%2.0%markettop25%5.4%industryaverage4.0%forecastin3Years2.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SAFE's dividend (2.35%) is higher than the bottom 25% of dividend payers in the UK market (2.01%).

High Dividend: SAFE's dividend (2.35%) is low compared to the top 25% of dividend payers in the UK market (5.36%).

Stable Dividend: SAFE's dividends per share have been stable in the past 10 years.

Growing Dividend: SAFE's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.1%), SAFE's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SAFE's dividends in 3 years are forecast to be covered by earnings (59.7% payout ratio).


Next Steps

Management

What is the CEO of Safestore Holdings's salary, the management and board of directors tenure and is there insider trading?

6.4yrs

Average management tenure


CEO

Frederic Vecchioli 0

6.1yrs

Tenure

UK£1,590,000

Compensation

Mr. Frederic Vecchioli serves as the Chief Executive Officer and Director of Safestore Limited. Mr. Vecchioli has been the Chief Executive Officer of Safestore Holdings plc since September 4, 2013 and has  ...


CEO Compensation Analysis

Compensation vs. Market: Frederic's total compensation ($USD2.05M) is about average for companies of similar size in the UK market ($USD1.81M).

Compensation vs Earnings: Frederic's compensation has been consistent with company performance over the past year.


Management Age and Tenure

6.4yrs

Average Tenure

Experienced Management: SAFE's management team is seasoned and experienced (6.4 years average tenure).


Board Age and Tenure

5.0yrs

Average Tenure

53yo

Average Age

Experienced Board: SAFE's board of directors are considered experienced (5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUK£371,05709 Apr 19
Frederic Vecchioli
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares59,843
Max PriceUK£6.20
SellUK£291,24409 Apr 19
Andrew Jones
EntityIndividual
Role
Member of the Board of Directors
CFO & Director
Shares46,971
Max PriceUK£6.20
BuyUK£59,57625 Mar 19
Ian Krieger
EntityIndividual
Role
Lead Director
Senior Independent Director
Shares10,000
Max PriceUK£5.96

Ownership Breakdown


Management Team

  • Frederic Vecchioli

    CEO & Director

    • Tenure: 6.1yrs
    • Compensation: UK£1.59m
  • David Davies

    Business Development Director

    • Tenure: 10.8yrs
  • Andy Jones (52yo)

    CFO & Director

    • Tenure: 6.8yrs
    • Compensation: UK£1.18m
  • Helen Bramall

    Interim Company Secretary

    • Tenure: 0yrs

Board Members

  • Alan Lewis

    Non-Executive Chairman of the Board

    • Tenure: 5.8yrs
    • Compensation: UK£135.00k
  • Jo Kenrick (53yo)

    Independent Non-Executive Director

    • Tenure: 5yrs
    • Compensation: UK£43.00k
  • Bill Oliver (62yo)

    Non-Executive Director

    • Tenure: 2.9yrs
    • Compensation: UK£43.00k
  • Claire Balmforth (51yo)

    Non-Executive Director

    • Tenure: 3.2yrs
    • Compensation: UK£53.00k
  • Frederic Vecchioli

    CEO & Director

    • Tenure: 6.1yrs
    • Compensation: UK£1.59m
  • Ian Krieger (67yo)

    Senior Independent Director

    • Tenure: 4.6yrs
    • Compensation: UK£53.00k
  • Andy Jones (52yo)

    CFO & Director

    • Tenure: 6.8yrs
    • Compensation: UK£1.18m

Company Information

Safestore Holdings plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Safestore Holdings plc
  • Ticker: SAFE
  • Exchange: LSE
  • Founded: 1998
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Market Cap: UK£1.453b
  • Shares outstanding: 210.42m
  • Website: https://www.safestore.com

Number of Employees


Location

  • Safestore Holdings plc
  • Brittanic House
  • Stirling Way
  • Borehamwood
  • Hertfordshire
  • WD6 2BT
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SAFELSE (London Stock Exchange)YesOrdinary SharesGBGBPMar 2007
SFSH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 2007
SAFELBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPMar 2007

Biography

Safestore has 117 self storage centres and two business centres in the UK with a further 27 stores in the Paris region. Safestore was founded in the UK in 1998. It acquired the French business “Une Pièce e ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 21:04
End of Day Share Price2019/10/18 00:00
Earnings2019/04/30
Annual Earnings2018/10/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.