Safehold (NYSE:SAFE) Sets New 12-Month Low – Time to Sell?

Safehold Inc. (NYSE:SAFE)’s stock price reached a new 52-week low on Tuesday. The company traded as low as $10.94 and last traded at $11.0950, with a volume of 724,180 shares traded. The stock had previously closed at $11.34.

Analysts Set New Price Targets

SAFE has been the subject of a number of research analyst reports. Royal Bank Of Canada cut their price target on shares of Safehold from $16.00 to $13.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Citizens Jmp reiterated a “market perform” rating on shares of Safehold in a research note on Wednesday, October 14th. Truist Financial decreased their price objective 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. JPMorgan Chase & Co. lowered shares of Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price on the stock. in a research report on Thursday, September 24th. Finally, Weiss Ratings lowered shares of Safehold from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.17.

Safehold Trading Down 2.2%

The firm has a market cap of $785.75 million, a PE ratio of 6.85, a PEG ratio of 3.38 and a beta of 1.78. The business has a 50-day moving average price of $13.71 and a two-hundred day moving average price of $14.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 34.37 and a quick ratio of 34.36.

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

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.1770 per share. This represents a $0.71 annualized dividend and a yield of 6.4%. The ex-dividend date was Wednesday, September 30th. Safehold’s dividend payout ratio (DPR) is 43.83%.

Insiders Place Their Bets

In other Safehold news, Director Robin Josephs sold 9,500 shares of Safehold 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 completion of the transaction, the director owned 89,068 shares in the company, 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 is accessible through this link. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently modified their holdings of SAFE. CWA Asset Management Group LLC grew its position in shares of Safehold by 38.6% in the third quarter. CWA Asset Management Group LLC now owns 125,437 shares of the company’s stock valued at $1,476,000 after purchasing an additional 34,962 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of Safehold by 20.7% during the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock worth $89,000 after purchasing an additional 1,290 shares during the last quarter. Versant Capital Management Inc lifted its stake in Safehold by 109.4% in the 3rd quarter. Versant Capital Management Inc now owns 5,635 shares of the company’s stock valued at $66,000 after buying an additional 2,944 shares in the last quarter. Tidal Investments LLC purchased a new stake in Safehold in the 2nd quarter valued at approximately $1,077,000. Finally, Squarepoint Ops LLC purchased a new stake in Safehold in the 2nd quarter valued at approximately $658,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

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.