Safehold (NYSE:SAFE) Reaches New 52-Week Low – Here’s Why

Safehold Inc. (NYSE:SAFE) shares reached a new 52-week low on Wednesday. The stock traded as low as $11.90 and last traded at $11.9950, with a volume of 712084 shares. The stock had previously closed at $12.21.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings raised shares of Safehold from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Safehold in a research report on Tuesday, August 4th. Mizuho decreased their price objective on shares of Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Finally, Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Safehold has an average rating of “Hold” and a consensus price target of $15.67.

Safehold Stock Up 0.1%

The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77. The firm has a 50 day moving average of $14.77 and a two-hundred day moving average of $15.07. The firm has a market capitalization of $834.61 million, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 3.51 and a beta of 1.78.

Safehold (NYSE:SAFE) last issued its earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. As a group, sell-side analysts anticipate that Safehold Inc. will post 1.64 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.1770 per share. This represents a $0.71 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Wednesday, September 30th. Safehold’s dividend payout ratio is currently 43.83%.

Insider Transactions at Safehold

In related news, Director Robin Josephs sold 9,500 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the completion of the transaction, the director owned 89,068 shares of the company’s stock, valued at $1,296,830.08. This represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Safehold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Resona Asset Management Co. Ltd. grew its holdings in Safehold by 7.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 20,551 shares of the company’s stock worth $280,000 after acquiring an additional 1,454 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Safehold by 32.0% during the first 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. Breakwater Capital Group raised its stake in shares of Safehold by 13.4% during the second 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. Infrastructure Capital Advisors LLC lifted its holdings in shares of Safehold by 5.8% during the fourth quarter. Infrastructure Capital Advisors LLC now owns 46,783 shares of the company’s stock worth $640,000 after purchasing an additional 2,550 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Safehold by 1.3% during the second quarter. Principal Financial Group Inc. now owns 292,924 shares of the company’s stock worth $4,599,000 after purchasing an additional 3,703 shares during the period. Institutional investors own 70.38% of the company’s stock.

About Safehold

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company’s ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.