Safehold (NYSE:SAFE) Sets New 1-Year Low - Here's Why

Key Points

• Safehold Inc. reached a new 52-week low of $13.66 during trading, closing at $13.69, amidst a volume of 233,975 shares.
• Multiple analysts have revised their price targets for Safehold, with estimates ranging from $16.00 to $32.00, reflecting a consensus rating of "Hold" and a target price of $22.33.
• Safehold also announced a quarterly dividend of $0.177, translating to an annualized yield of 5.2% and a payout ratio of 49.65%.

Safehold Inc. (NYSE:SAFE - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $13.66 and last traded at $13.69, with a volume of 233975 shares changing hands. The stock had previously closed at $14.07.

Analysts Set New Price Targets

SAFE has been the topic of a number of research analyst reports. Royal Bank Of Canada dropped their price target on Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Mizuho decreased their price target on Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Truist Financial decreased their price target on Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday, May 19th. The Goldman Sachs Group decreased their price target on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $32.00 price objective on shares of Safehold in a research note on Thursday, June 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $22.33.

Safehold Stock Down 2.7%

The stock has a 50 day moving average price of $15.18 and a 200 day moving average price of $16.15. The stock has a market capitalization of $981.85 million, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.83. The company has a quick ratio of 37.17, a current ratio of 37.17 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, hitting analysts' consensus estimates of $0.39. The company had revenue of $93.84 million for the quarter, compared to analyst estimates of $94.05 million. Safehold had a return on equity of 4.73% and a net margin of 27.45%. The firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Monday, June 30th. Safehold's payout ratio is presently 49.65%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System boosted its position in Safehold by 12.1% in the first quarter. New York State Teachers Retirement System now owns 51,068 shares of the company's stock worth $956,000 after purchasing an additional 5,509 shares during the last quarter. Peregrine Capital Management LLC increased its stake in Safehold by 9.0% in the 1st quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company's stock worth $6,300,000 after acquiring an additional 27,719 shares during the last quarter. GAMMA Investing LLC increased its stake in Safehold by 2,476.8% in the 1st quarter. GAMMA Investing LLC now owns 33,808 shares of the company's stock worth $633,000 after acquiring an additional 32,496 shares during the last quarter. M&T Bank Corp increased its stake in Safehold by 4.4% in the 1st quarter. M&T Bank Corp now owns 28,742 shares of the company's stock worth $538,000 after acquiring an additional 1,222 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Safehold in the 4th quarter worth about $1,781,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

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.

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