Safehold (NYSE:SAFE) Sets New 1-Year Low – Here’s What Happened

Safehold Inc. (NYSE:SAFE)’s share price hit a new 52-week low during trading on Wednesday. The stock traded as low as $10.15 and last traded at $10.20, with a volume of 23,794 shares changing hands. The stock had previously closed at $10.32.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings downgraded Safehold from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. UBS Group cut shares of Safehold to a “market perform” rating in a report on Wednesday, October 14th. Truist Financial cut their price target on shares of Safehold from $17.00 to $13.00 and set a “hold” rating on the stock in a report on Monday, September 28th. Mizuho reduced their price target 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, Royal Bank Of Canada decreased their price objective on shares of Safehold from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Wednesday, November 4th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.00.

Safehold Trading Down 5.7%

The company has a current ratio of 33.44, a quick ratio of 33.44 and a debt-to-equity ratio of 1.81. The stock has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $14.53. The firm has a market capitalization of $691.92 million, a P/E ratio of 6.10, a price-to-earnings-growth ratio of 3.16 and a beta of 1.82.

Safehold (NYSE:SAFE) last posted its quarterly 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 firm had revenue of $118.68 million for the quarter, compared to the consensus estimate of $117.38 million. Safehold had a return on equity of 4.63% and a net margin of 26.19%. On average, equities research analysts anticipate that Safehold Inc. will post 1.62 earnings per share for the current year.

Safehold Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 7.2%. Safehold’s dividend payout ratio is 43.83%.

Insiders Place Their Bets

In other Safehold news, Director Robin Josephs sold 9,500 shares of the stock in a transaction dated 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 directly owned 89,068 shares in the company, valued at $1,296,830.08. This represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Safehold

Several large investors have recently modified their holdings of the business. NewEdge Wealth LLC bought a new position in shares of Safehold during the second quarter valued at approximately $10,529,000. Bank of America Corp DE bought a new position in Safehold in the second quarter worth approximately $5,153,000. Denali Advisors LLC bought a new position in Safehold in the second quarter worth approximately $4,861,000. Legal & General Group Plc bought a new position in Safehold in the second quarter worth approximately $4,603,000. Finally, BlackRock Inc. raised its stake in Safehold by 2.1% in the second quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock worth $156,036,000 after buying an additional 200,628 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

About Safehold

Safehold is a real estate investment trust (REIT) focused on owning ground leases beneath commercial properties. Under this structure, Safehold owns the land while the property owner retains ownership of the buildings and is responsible for their operations. The company’s ground leases support a range of property types, including office, multifamily, and mixed-use real estate. Safehold works with property owners and developers seeking long-term arrangements for the land beneath their properties.