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

Safehold Inc. (NYSE:SAFE)’s share price hit a new 52-week low during mid-day 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 changing hands. The stock had previously closed at $18.01.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their price objective 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. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Thursday, September 19th. 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 report on Thursday, October 31st. Wedbush reissued a “neutral” rating and set a $23.00 price objective (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Safehold currently has an average rating of “Moderate Buy” and a consensus price target of $26.88.

Hedge Funds Weigh In On Safehold

A number of hedge funds have recently bought and sold shares of SAFE. Rhumbline Advisers boosted its stake in Safehold by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 167,142 shares of the company’s stock worth $3,224,000 after purchasing an additional 6,656 shares in the last quarter. Quest Partners LLC bought a new position in Safehold in the 2nd quarter worth about $225,000. Dimensional Fund Advisors LP bought a new position in Safehold in the 2nd quarter worth about $333,000. Renaissance Technologies LLC boosted its stake in Safehold by 62.3% in the 2nd quarter. Renaissance Technologies LLC now owns 43,119 shares of the company’s stock worth $832,000 after purchasing an additional 16,557 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Safehold by 28.9% in the 2nd quarter. Hsbc Holdings PLC now owns 41,400 shares of the company’s stock worth $796,000 after purchasing an additional 9,277 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

Safehold Trading Down 2.7 %

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

Safehold (NYSE:SAFE) last posted its earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. Research analysts anticipate that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

Safehold Announces Dividend

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

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.