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Safestore Holdings
(LSE:SAFE)
Select Model
Select Model
Rating:69Neutral
Price Target:
587.00 p
▼(-3.45% Downside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid balance-sheet positioning but tempered by volatility in earnings and a historically inconsistent free cash flow profile. Technicals are supportive with positive trend and MACD, though overextended signals add near-term risk. Valuation is mixed: an attractive ~5% dividend yield offsets a moderately high P/E.
Positive Factors
Recurring self-storage model
Recurring rental income gives Safestore a durable revenue base, while occupancy, pricing, unit size and length of stay provide several avenues for growth. The model also benefits from operating leverage as mature sites spread fixed costs across a larger occupied area.
Negative Factors
Rising absolute debt
Although leverage remains reasonable for a REIT, the near doubling of absolute debt increases the financial commitment attached to the expanding asset base. Higher debt can reduce flexibility if operating performance weakens and makes disciplined capital allocation increasingly important.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring self-storage model
Recurring rental income gives Safestore a durable revenue base, while occupancy, pricing, unit size and length of stay provide several avenues for growth. The model also benefits from operating leverage as mature sites spread fixed costs across a larger occupied area.
Read all positive factors
Safestore Holdings (SAFE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.17B
Dividend Yield5.75%
Average Volume (3M)903.59K
Price to Earnings (P/E)17.9
Beta (1Y)1.23
Revenue Growth6.65%
EPS Growth-77.89%
CountryUK
Employees850
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)N/A
Shares Outstanding218,490,500
10 Day Avg. Volume1,342,797
30 Day Avg. Volume903,588
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
£720.60Price Target Upside18.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Safestore Holdings Business Overview & Revenue Model
Company Description
Safestore, established in the UK in 1998, operates as the United Kingdom's foremost self-storage provider, overseeing a total of 163 facilities. Its significant domestic presence includes 125 wholly owned locations, with a strong concentration of ...
How the Company Makes Money
Safestore makes money primarily by renting self-storage space to customers on short- to medium-term arrangements. The core revenue stream is storage rental income, where customers pay recurring fees for dedicated storage units; pricing varies by u...
Safestore Holdings Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 242.10M | 234.30M | 223.50M | 224.20M | 212.50M | 186.80M |
| Gross Profit | 156.30M | 152.90M | 149.80M | 154.30M | 149.50M | 129.90M |
| EBITDA | 125.50M | 161.30M | 425.80M | 229.50M | 124.50M | 102.20M |
| Net Income | 65.20M | 111.10M | 372.30M | 200.20M | 462.90M | 382.00M |
Balance Sheet | ||||||
| Total Assets | 3.62B | 3.59B | 3.36B | 2.96B | 2.71B | 2.12B |
| Cash, Cash Equivalents and Short-Term Investments | 14.60M | 11.00M | 25.30M | 16.90M | 20.90M | 43.20M |
| Total Debt | 1.12B | 1.07B | 924.80M | 827.20M | 719.20M | 567.00M |
| Total Liabilities | 1.35B | 1.30B | 1.13B | 1.02B | 914.10M | 742.40M |
| Stockholders Equity | 2.27B | 2.29B | 2.23B | 1.94B | 1.79B | 1.37B |
Cash Flow | ||||||
| Free Cash Flow | 103.20M | 96.80M | -24.20M | -23.90M | 13.60M | 96.00M |
| Operating Cash Flow | 105.90M | 99.90M | 95.90M | 98.00M | 109.80M | 97.00M |
| Investing Cash Flow | -93.40M | -142.10M | -122.60M | -124.20M | -200.90M | -66.20M |
| Financing Cash Flow | -13.10M | 28.30M | 35.40M | 22.30M | 69.00M | -6.30M |
Safestore Holdings Technical Analysis
Neutral
608.00
Price Trends
542.00
Negative
575.05
Negative
634.47
Negative
Market Momentum
-3.13
Negative
57.93
Neutral
91.20
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SAFE, the sentiment is Neutral. The current price of 608 is above the 20-day moving average (MA) of 512.31, above the 50-day MA of 542.00, and below the 200-day MA of 634.47, indicating a neutral trend. The MACD of -3.13 indicates Negative momentum. The RSI at 57.93 is Neutral, neither overbought nor oversold. The STOCH value of 91.20 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | £1.33B | 10.06 | 6.53% | 3.22% | -23.35% | 20.53% | |
69 Neutral | £1.17B | 17.87 | 2.86% | 5.75% | 6.65% | -77.89% | |
69 Neutral | £1.80B | 14.34 | 4.81% | 5.14% | 2.24% | -38.20% | |
69 Neutral | £2.07B | 44.83 | 1.35% | 4.35% | 45.36% | -79.84% | |
68 Neutral | £2.05B | 8.57 | 11.84% | 5.19% | 92.40% | 184.37% | |
67 Neutral | £1.51B | 7.74 | 12.69% | 5.86% | 12.54% | 29.71% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
GB:SAFE
Safestore Holdings
536.00
-177.23
-24.85%
GB:BYG
Big Yellow Group
917.50
-188.70
-17.06%
GB:DLN
Derwent London plc REIT
1,883.00
118.45
6.71%
GB:GRI
Grainger
179.70
-7.36
-3.93%
GB:HMSO
Hammerson plc R.E.I.T.
351.40
56.84
19.30%
GB:SRE
Sirius Real Estate
95.40
-1.19
-1.23%
Safestore Holdings Corporate Events
Regulatory Filings and Compliance
Safestore Director Jane Bentall Buys £86,360 in Shares
Positive
Oct 15, 2026
Safestore Holdings plc, a London-listed self-storage operator serving retail and business customers in the U.K. and parts of Europe, offers secure storage units and related services from a network of facilities. Its business model relies on rental...
Business Operations and StrategyFinancial Disclosures
Safestore Hosts Investor Strategy Event and Showcases New Wembley Store
Positive
Oct 15, 2026
Safestore Holdings will host an event today for institutional investors and sell‑side analysts to provide an update on the group’s strategy and offer a tour of its recently opened Wembley store. The company confirmed that no new inform...
Other
Safestore CEO boosts holding with £364k share purchase
Positive
Sep 9, 2026
Safestore Holdings plc, a major self-storage provider listed in London, rents secure storage units to retail and commercial customers across the U.K. and Europe. Its business model centres on recurring rental income from storage facilities in urba...
Regulatory Filings and Compliance
Safestore CFO Simon Clinton Buys Shares in London Market Transaction
Positive
Sep 4, 2026
Safestore Holdings plc has disclosed a share transaction by its chief financial officer, Simon Clinton, in line with regulatory requirements for persons discharging managerial responsibilities. The company reported that Clinton has purchased ordin...
Business Operations and StrategyFinancial Disclosures
Safestore posts revenue growth but trims earnings outlook and slows U.K. pipeline
Neutral
Sep 3, 2026
Safestore reported third-quarter group revenue of £62.2 million, up 4.1% at constant exchange rates, driven by both like-for-like performance and contributions from newly opened stores. The company’s portfolio continued to expand, inclu...
Executive/Board Changes
Safestore CEO Exercises Long-Term Incentive Shares and Sells Portion to Cover Tax
Neutral
Aug 20, 2026
Safestore Holdings plc reported that Chief Executive Officer and PDMR Frederic Vecchioli acquired 46,052 ordinary shares of 1p each on 19 August 2026 through the exercise of nil-cost awards granted under the company’s 2020 Long Term Incentiv...
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.