Safehold (NYSE:SAFE) Sets New 52-Week Low Following Analyst Downgrade

Safehold Inc. (NYSE:SAFE)’s stock price hit a new 52-week low during trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $29.00 to $24.00. The Goldman Sachs Group currently has a buy rating on the stock. Safehold traded as low as $16.87 and last traded at $16.97, with a volume of 667060 shares trading hands. The stock had previously closed at $18.01.

Other equities analysts have also recently issued research reports about the stock. Mizuho boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wedbush reiterated a “neutral” rating and set a $23.00 target price (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Thursday, September 19th. JMP Securities reiterated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada lifted their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.88.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Safehold by 5.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,893 shares of the company’s stock worth $391,000 after acquiring an additional 823 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after buying an additional 920 shares during the period. FMR LLC increased its stake in shares of Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after buying an additional 1,163 shares during the period. Finally, KBC Group NV increased its stake in shares of Safehold by 79.3% in the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after buying an additional 1,275 shares during the period. 70.38% of the stock is currently owned by institutional investors.

Safehold Trading Down 2.7 %

The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The firm’s 50 day moving average is $20.01 and its 200 day moving average is $22.25. The company has a market capitalization of $1.18 billion, a PE ratio of 9.71 and a beta of 1.67.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts predict that Safehold Inc. will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Monday, December 30th. Safehold’s payout ratio is 41.18%.

About Safehold

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.