Safehold (NYSE:SAFE) Reaches New 1-Year Low After Analyst Downgrade

Safehold Inc. (NYSE:SAFE) reached a new 52-week low during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $19.00 to $17.00. Morgan Stanley currently has an equal weight rating on the stock. Safehold traded as low as $15.01 and last traded at $15.77, with a volume of 357558 shares changing hands. The stock had previously closed at $15.62.

A number of other analysts also recently weighed in on SAFE. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research report on Thursday, February 6th. Mizuho lowered their price target on Safehold from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Safehold in a research report on Monday, March 31st. Finally, The Goldman Sachs Group cut their price target on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Safehold by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after buying an additional 91,965 shares during the last quarter. Barclays PLC raised its position in Safehold by 317.9% during the third quarter. Barclays PLC now owns 85,932 shares of the company’s stock worth $2,254,000 after acquiring an additional 65,370 shares in the last quarter. SG Americas Securities LLC lifted its stake in Safehold by 265.4% in the fourth quarter. SG Americas Securities LLC now owns 24,071 shares of the company’s stock valued at $445,000 after acquiring an additional 17,484 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Safehold in the 4th quarter valued at about $306,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Safehold by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock valued at $13,251,000 after purchasing an additional 29,348 shares during the period. 70.38% of the stock is currently owned by institutional investors.

Safehold Price Performance

The company’s 50 day moving average is $17.17 and its 200-day moving average is $18.67. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.66 and a beta of 1.63. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last posted its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same quarter last year, the firm posted $0.36 EPS. Equities research analysts anticipate that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Monday, March 31st. Safehold’s payout ratio is 47.30%.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.