Mizuho Cuts Safehold (NYSE:SAFE) Price Target to $14.00

Safehold (NYSE:SAFE) had its price target cut by Mizuho from $16.00 to $14.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently commented on SAFE. Cantor Fitzgerald restated a “neutral” rating on shares of Safehold in a report on Tuesday, August 4th. Wall Street Zen upgraded Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings raised Safehold from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Zacks Research upgraded Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Raymond James Financial initiated coverage on Safehold in a report on Wednesday, August 19th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Safehold has a consensus rating of “Hold” and a consensus price target of $16.83.

Safehold Stock Performance

Shares of NYSE:SAFE opened at $13.13 on Thursday. The firm has a market cap of $930.22 million, a PE ratio of 8.11, a price-to-earnings-growth ratio of 3.92 and a beta of 1.73. The firm’s 50 day simple moving average is $15.51 and its 200-day simple moving average is $15.25. Safehold has a one year low of $12.76 and a one year high of $17.45. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The firm had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million. As a group, equities analysts predict that Safehold will post 1.64 EPS for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is 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 the business’s 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. The trade was a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in shares of Safehold by 32.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company’s stock worth $82,000 after acquiring an additional 1,478 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in Safehold during the first quarter valued at about $122,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Safehold during the second quarter valued at about $189,000. Caxton Associates LLP bought a new stake in Safehold during the first quarter valued at about $168,000. Finally, Fifth Third Bancorp grew its stake in Safehold by 2,595.0% in the first quarter. Fifth Third Bancorp now owns 12,990 shares of the company’s stock valued at $176,000 after purchasing an additional 12,508 shares during the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Safehold Company Profile

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.