Safehold (NYSE:SAFE) Stock Gets Price Target Reduction from Royal Bank Of Canada

Safehold (NYSE:SAFE) had its target price reduced by Royal Bank Of Canada from $16.00 to $13.00 in a report issued on Friday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other analysts have also recently weighed in on the stock. Raymond James Financial assumed coverage on shares of Safehold in a research note on Wednesday, August 19th. They issued a “market perform” rating on the stock. Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Truist Financial cut their price target on shares of Safehold from $17.00 to $13.00 and set a “hold” rating for the company in a research note on Monday, September 28th. Weiss Ratings downgraded Safehold from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. Finally, Mizuho lowered their price objective on Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.17.

Safehold Trading Down 0.1%

Shares of SAFE stock opened at $11.99 on Friday. Safehold has a 52-week low of $11.60 and a 52-week high of $17.45. The stock has a market cap of $849.37 million, a price-to-earnings ratio of 7.40, a P/E/G ratio of 3.58 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 firm has a fifty day moving average of $14.25 and a 200-day moving average of $14.97.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The company had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million. On average, equities research analysts forecast that Safehold will post 1.64 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.1770 per share. This represents a $0.71 annualized dividend and a yield of 5.9%. The ex-dividend date is Wednesday, September 30th. Safehold’s dividend payout ratio is currently 43.21%.

Insider Activity

In other Safehold news, Director Robin Josephs sold 9,500 shares of Safehold stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Safehold

Several institutional investors and hedge funds have recently made changes to their positions in SAFE. Versant Capital Management Inc increased its position in shares of Safehold by 109.4% during the 3rd quarter. Versant Capital Management Inc now owns 5,635 shares of the company’s stock worth $66,000 after purchasing an additional 2,944 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Safehold by 32.0% during the 1st 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. CoreCap Advisors LLC lifted its holdings in Safehold by 20.7% during the 3rd 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 last quarter. IFM Investors Pty Ltd bought a new position in Safehold during the 1st quarter valued at about $122,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Safehold during the 2nd quarter valued at about $189,000. 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.