Safehold (NYSE:SAFE) Sets New 52-Week Low - Time to Sell?

Safehold Inc. (NYSE:SAFE - Get Free Report) shares reached a new 52-week low during trading on Wednesday. The company traded as low as $11.90 and last traded at $11.9950, with a volume of 712084 shares traded. The stock had previously closed at $12.21.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several recent research reports. JPMorgan Chase & Co. cut shares of Safehold from a "neutral" rating to an "underweight" rating and set a $14.00 target price for the company. in a research report on Thursday, September 24th. Wall Street Zen upgraded Safehold from a "sell" rating to a "hold" rating in a research report on Saturday, July 4th. Raymond James Financial began coverage on Safehold in a research note on Wednesday, August 19th. They set a "market perform" rating for the company. Weiss Ratings upgraded Safehold from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. Finally, Truist Financial cut their target price on Safehold from $17.00 to $13.00 and set a "hold" rating on the stock in a research note on Monday. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.86.

Safehold Stock Performance

The stock has a market cap of $849.49 million, a price-to-earnings ratio of 7.40, a PEG ratio of 3.64 and a beta of 1.73. The stock's fifty day moving average is $14.95 and its 200-day moving average is $15.11. The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77.

Safehold (NYSE:SAFE - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million. Safehold had a net margin of 27.70% and a return on equity of 4.76%. On average, analysts forecast that Safehold Inc. will post 1.64 EPS for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.1770 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.9%. Safehold's dividend payout ratio is currently 43.83%.

Insider Buying and Selling

In related news, Director Robin Josephs sold 9,500 shares of the firm's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total transaction of $138,320.00. Following the sale, the director owned 89,068 shares of the company's stock, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. lifted its holdings in shares of Safehold by 7.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 20,551 shares of the company's stock valued at $280,000 after purchasing an additional 1,454 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Safehold by 32.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company's stock worth $82,000 after buying an additional 1,478 shares in the last quarter. Breakwater Capital Group grew its holdings in shares of Safehold by 13.4% during the second quarter. Breakwater Capital Group now owns 15,054 shares of the company's stock worth $236,000 after buying an additional 1,775 shares in the last quarter. Infrastructure Capital Advisors LLC grew its holdings in shares of Safehold by 5.8% during the fourth quarter. Infrastructure Capital Advisors LLC now owns 46,783 shares of the company's stock worth $640,000 after buying an additional 2,550 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Safehold by 1.3% in the 2nd quarter. Principal Financial Group Inc. now owns 292,924 shares of the company's stock valued at $4,599,000 after buying an additional 3,703 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

About Safehold

Safehold Inc NYSE: SAFE is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company's ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.

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