Safehold (NYSE:SAFE) Hits New 1-Year Low – Should You Sell?

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. UBS Group lowered shares of Safehold to a “market perform” rating in a report on Wednesday, October 14th. JPMorgan Chase & Co. downgraded shares of Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 price objective for the company. in a research note on Thursday, September 24th. Zacks Research upgraded Safehold from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Royal Bank Of Canada dropped their target price on Safehold from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 4th. Finally, Truist Financial dropped their target price on Safehold from $17.00 to $13.00 and set a “hold” rating on the stock in a research report on Monday, September 28th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Safehold Stock Down 0.2%

The company has a 50-day moving average of $12.35 and a 200-day moving average of $14.57. The company has a market capitalization of $720.86 million, a price-to-earnings ratio of 6.35, a price-to-earnings-growth ratio of 3.26 and a beta of 1.82. The company has a current ratio of 33.44, a quick ratio of 33.44 and a debt-to-equity ratio of 1.81.

Safehold (NYSE:SAFE) last released its earnings results on Tuesday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $118.68 million for the quarter, compared to analysts’ expectations of $117.38 million. Safehold had a return on equity of 4.63% and a net margin of 26.19%. On average, equities analysts predict that Safehold Inc. will post 1.62 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.1770 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.9%. Safehold’s dividend payout ratio (DPR) is presently 43.21%.

Insiders Place Their Bets

In other Safehold news, Director Robin Josephs sold 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total value 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Safehold

A number of hedge funds and other institutional investors have recently made changes to their positions in SAFE. NewEdge Wealth LLC purchased a new position in shares of Safehold during the 2nd quarter valued at approximately $10,529,000. Bank of America Corp DE purchased a new stake in Safehold during the second quarter worth $5,153,000. Denali Advisors LLC purchased a new stake in Safehold during the second quarter worth $4,861,000. Legal & General Group Plc acquired a new stake in Safehold during the second quarter valued at $4,603,000. Finally, BlackRock Inc. grew its position in Safehold by 2.1% during the second quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock valued at $156,036,000 after buying an additional 200,628 shares during the period. Institutional investors and hedge funds 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.