Safehold (NYSE:SAFE) Hits New 12-Month Low – Here’s What Happened

Shares of Safehold Inc. (NYSE:SAFE) reached a new 52-week low during trading on Wednesday. The stock traded as low as $11.57 and last traded at $11.67, with a volume of 138,343 shares traded. The stock had previously closed at $11.97.

Wall Street Analysts Forecast Growth

SAFE has been the topic of a number of research analyst reports. Mizuho decreased their price target on shares of Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, September 17th. Raymond James Financial began coverage on shares of Safehold in a research note on Wednesday, August 19th. They set a “market perform” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating on shares of Safehold in a research report on Tuesday, August 4th. Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.17.

Safehold Stock Down 3.6%

The business has a fifty day moving average price of $14.08 and a two-hundred day moving average price of $14.94. The company has a market cap of $817.26 million, a price-to-earnings ratio of 7.11, a P/E/G ratio of 3.60 and a beta of 1.78. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The business had revenue of $114.65 million for the quarter, compared to the consensus estimate of $110.78 million. On average, equities analysts predict that Safehold Inc. will post 1.64 earnings per share for the current year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.1770 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.1%. Safehold’s payout ratio is 43.83%.

Insider Activity

In related news, Director Robin Josephs sold 9,500 shares of the business’s 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 transaction, the director owned 89,068 shares of the company’s stock, valued at approximately $1,296,830.08. The trade was a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its stake in Safehold by 109.4% during the third quarter. Versant Capital Management Inc now owns 5,635 shares of the company’s stock worth $66,000 after buying an additional 2,944 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Safehold by 32.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company’s stock worth $82,000 after acquiring an additional 1,478 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Safehold by 20.7% during the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock worth $89,000 after acquiring an additional 1,290 shares during the period. IFM Investors Pty Ltd bought a new stake in Safehold in the first quarter valued at about $122,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Safehold in the second quarter valued at about $189,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

About Safehold

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning ground leases. Through its ground-lease model, the company acquires and owns the land beneath commercial, residential, and other real estate assets while leasing that land to property owners under long-term agreements. This structure allows building owners to access the value of the land without selling the underlying property.

Safehold’s portfolio has included ground leases supporting multifamily, office, hotel, life sciences, industrial, and other commercial properties.