Safehold (NYSE:SAFE) Stock Gets Price Target Trim from Royal Bank Of Canada

Safehold (NYSE:SAFE) had its target price lowered by Royal Bank Of Canada from $13.00 to $12.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

SAFE has been the topic of a number of other research reports. Morgan Stanley set a $12.00 price objective on Safehold and gave the stock an “equal weight” rating in a report on Monday, October 26th. UBS Group lowered shares of Safehold to a “market perform” rating in a research report on Wednesday, October 14th. Truist Financial lowered their price target 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. Mizuho cut their price target on shares of Safehold from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, September 17th. Finally, Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Safehold has a consensus rating of “Hold” and an average price target of $14.00.

Safehold Stock Performance

SAFE traded down $0.06 during trading on Wednesday, reaching $10.57. The company’s stock had a trading volume of 895,983 shares, compared to its average volume of 769,021. 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 company’s fifty day moving average price is $12.53 and its 200-day moving average price is $14.61. Safehold has a 52-week low of $10.27 and a 52-week high of $17.45. The company has a market capitalization of $748.50 million, a price-to-earnings ratio of 6.52, a price-to-earnings-growth ratio of 3.45 and a beta of 1.82.

Safehold (NYSE:SAFE) last issued its earnings results 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). The business had revenue of $118.68 million for the quarter, compared to analysts’ expectations of $117.38 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. On average, equities analysts forecast that Safehold will post 1.64 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.1770 dividend. This represents a $0.71 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Safehold’s dividend payout ratio (DPR) is presently 43.83%.

Insider Transactions at Safehold

In related news, Director Robin Josephs sold 9,500 shares of Safehold stock in a transaction on Wednesday, September 9th. The stock was 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 approximately $1,296,830.08. The trade was a 9.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SAFE. Illinois Municipal Retirement Fund raised its stake in shares of Safehold by 5.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 24,824 shares of the company’s stock worth $292,000 after buying an additional 1,223 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of Safehold by 20.7% in the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock worth $89,000 after buying an additional 1,290 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Safehold by 7.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 20,551 shares of the company’s stock worth $280,000 after buying an additional 1,454 shares in 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 acquiring an additional 1,478 shares during the last quarter. Finally, Breakwater Capital Group grew its stake in Safehold by 13.4% in the 2nd quarter. Breakwater Capital Group now owns 15,054 shares of the company’s stock valued at $236,000 after acquiring an additional 1,775 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.