Safehold (NYSE:SAFE) Sets New 12-Month Low - Here's Why

Key Points

• Safehold shares hit a 52-week low, trading as low as $10.15, below the previous close of $10.32.
• Recent results were mixed: quarterly EPS of $0.41 missed estimates by $0.02, while revenue of $118.68 million topped expectations. Analysts’ views are also mixed, with a consensus “Hold” rating and average price target of $14.
• The company’s quarterly dividend annualizes to $0.71 per share, a reported yield of about 6.9%.

Shares of Safehold Inc. (NYSE:SAFE - Get Free Report) reached a new 52-week low during trading on Wednesday. The stock traded as low as $10.15 and last traded at $10.20, with a volume of 23,794 shares traded. The stock had previously closed at $10.32.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $19.00 target price on shares of Safehold in a research note on Wednesday, October 21st. Weiss Ratings cut shares of Safehold from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. Morgan Stanley set a $12.00 price objective on shares of Safehold and gave the company an "equal weight" rating in a report on Monday, October 26th. Royal Bank Of Canada dropped their price objective on shares of Safehold from $13.00 to $12.00 and set a "sector perform" rating for the company in a report on Wednesday, November 4th. Finally, Truist Financial cut their price objective on Safehold from $17.00 to $13.00 and set a "hold" rating for the company in a research report on Monday, September 28th. Two equities 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 data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $14.00.

Safehold Price Performance

The company has a current ratio of 33.44, a quick ratio of 33.44 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $720.86 million, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 3.26 and a beta of 1.82. The stock has a 50 day moving average of $12.35 and a 200-day moving average of $14.57.

Safehold (NYSE:SAFE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Safehold had a net margin of 26.19% and a return on equity of 4.63%. The business had revenue of $118.68 million during the quarter, compared to the consensus estimate of $117.38 million. On average, equities research analysts anticipate that Safehold Inc. will post 1.62 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.1770 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.9%. Safehold's dividend payout ratio is presently 43.21%.

Insider Buying and Selling

In related news, Director Robin Josephs sold 9,500 shares of the firm's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the transaction, the director owned 89,068 shares of the company's stock, valued at $1,296,830.08. This trade represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently modified their holdings of SAFE. Ieq Capital LLC raised its position in Safehold by 34.1% during the 3rd quarter. Ieq Capital LLC now owns 29,429 shares of the company's stock valued at $346,000 after purchasing an additional 7,476 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Safehold by 4,458.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,097 shares of the company's stock worth $25,000 after acquiring an additional 2,051 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Safehold by 188.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 6,300 shares of the company's stock worth $74,000 after acquiring an additional 4,118 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Safehold by 5.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 24,824 shares of the company's stock worth $292,000 after acquiring an additional 1,223 shares in the last quarter. Finally, Hollow Brook Wealth Management LLC purchased a new position in Safehold during the 3rd quarter valued at about $261,000. Institutional investors own 70.38% of the company's stock.

Safehold Company Profile

Safehold is a real estate investment trust (REIT) focused on owning ground leases beneath commercial properties. Under this structure, Safehold owns the land while the property owner retains ownership of the buildings and is responsible for their operations. The company's ground leases support a range of property types, including office, multifamily, and mixed-use real estate. Safehold works with property owners and developers seeking long-term arrangements for the land beneath their properties.

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