Safehold (NYSE:SAFE) Sets New 52-Week Low – What’s Next?

Safehold Inc. (NYSE:SAFE)’s stock price hit a new 52-week low during mid-day trading on Wednesday. The company 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 reports. Royal Bank Of Canada decreased their price objective on Safehold from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Zacks Research raised shares of Safehold from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Truist Financial dropped their target price on shares of Safehold from $17.00 to $13.00 and set a “hold” rating for the company in a report on Monday, September 28th. Mizuho reduced their target price 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. Finally, UBS Group downgraded shares of Safehold to a “market perform” rating in a research note on Wednesday. Two equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.17.

Safehold Trading Down 3.6%

The stock has a market cap of $817.26 million, a PE ratio of 7.11, a price-to-earnings-growth ratio of 3.60 and a beta of 1.78. 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 50-day moving average price is $14.08 and its 200 day moving average price is $14.94.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $114.65 million during the quarter, compared to analyst estimates of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. On average, sell-side analysts forecast that Safehold Inc. will post 1.64 EPS for the current fiscal 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 paid a $0.1770 dividend. This represents a $0.71 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Safehold’s dividend payout ratio is 43.83%.

Insider Buying and Selling at Safehold

In related news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 89,068 shares of the company’s stock, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. CoreCap Advisors LLC lifted its stake in shares of Safehold by 20.7% in the third quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock valued at $89,000 after purchasing an additional 1,290 shares during the period. Resona Asset Management Co. Ltd. boosted its position in Safehold by 7.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 20,551 shares of the company’s stock worth $280,000 after purchasing an additional 1,454 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Safehold by 32.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company’s stock valued at $82,000 after purchasing an additional 1,478 shares during the last quarter. Breakwater Capital Group raised its stake in shares of Safehold by 13.4% during the 2nd quarter. Breakwater Capital Group now owns 15,054 shares of the company’s stock worth $236,000 after buying an additional 1,775 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC grew its stake in Safehold by 5.8% in the 4th quarter. Infrastructure Capital Advisors LLC now owns 46,783 shares of the company’s stock valued at $640,000 after acquiring an additional 2,550 shares during the last quarter. 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.