Safehold (NYSE:SAFE) Sets New 1-Year Low Following Analyst Downgrade

Safehold Inc. (NYSE:SAFE)’s stock price reached a new 52-week low on Thursday after Royal Bank Of Canada lowered their price target on the stock from $13.00 to $12.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Safehold traded as low as $10.41 and last traded at $10.44, with a volume of 124,331 shares changing hands. The stock had previously closed at $10.77.

SAFE has been the topic of several other reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $19.00 price target on shares of Safehold in a research report on Wednesday, October 21st. Mizuho decreased their price objective on shares of Safehold from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, September 17th. Truist Financial lowered their price objective on shares of Safehold from $17.00 to $13.00 and set a “hold” rating on the stock in a research note on Monday, September 28th. JPMorgan Chase & Co. cut shares of Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price on the stock. in a report on Thursday, September 24th. Finally, Morgan Stanley set a $12.00 target price on shares of Safehold and gave the company an “equal weight” rating in a research note on Monday, October 26th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.00.

Insider Transactions at Safehold

In other Safehold news, Director Robin Josephs sold 9,500 shares of Safehold stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total transaction of $138,320.00. Following the completion of the transaction, the director directly owned 89,068 shares of the company’s stock, valued at $1,296,830.08. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Safehold

Hedge funds have recently modified their holdings of the stock. Inspire Investing LLC bought a new stake in shares of Safehold during the 3rd quarter worth about $36,000. Versant Capital Management Inc grew its stake in Safehold by 109.4% in the 3rd quarter. Versant Capital Management Inc now owns 5,635 shares of the company’s stock valued at $66,000 after buying an additional 2,944 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Safehold by 32.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company’s stock valued at $82,000 after buying an additional 1,478 shares during the last quarter. CoreCap Advisors LLC raised its holdings in Safehold by 20.7% in the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock valued at $89,000 after acquiring an additional 1,290 shares during the period. Finally, Signaturefd LLC raised its holdings in Safehold by 312.6% in the 3rd quarter. Signaturefd LLC now owns 8,429 shares of the company’s stock valued at $99,000 after acquiring an additional 6,386 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Stock Performance

The company’s fifty day simple moving average is $12.72 and its two-hundred day simple moving average is $14.65. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. The stock has a market capitalization of $737.55 million, a P/E ratio of 6.44, a PEG ratio of 3.36 and a beta of 1.82.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Safehold had a return on equity of 4.70% and a net margin of 26.19%. The firm had revenue of $118.68 million for the quarter, compared to the consensus estimate of $117.38 million. As a group, equities analysts forecast that Safehold Inc. will post 1.64 EPS for the current year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.1770 per share. This represents a $0.71 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Wednesday, September 30th. Safehold’s dividend payout ratio (DPR) is presently 43.21%.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust that owns and manages ground leases for commercial, multifamily, and other income-producing properties. Under a ground lease, Safehold owns the land beneath a building while the property owner leases the land for a long term and retains ownership of the improvements on it.

The company’s business model is designed to provide property owners with access to capital while allowing them to maintain control of their buildings. Safehold’s ground lease investments are generally structured as long-duration leases that can support the development, acquisition, refinancing, or recapitalization of real estate assets.