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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT) and is managed by its largest shareholder, iStar Inc., seeks to deliver safe, growing income and long-term capital appreciation to its shareholders.
Safehold Trading Down 3.1 %
Safehold stock traded down $1.32 during trading hours on Tuesday, reaching $41.94. 182,910 shares of the company were exchanged, compared to its average volume of 222,593. Safehold has a 12 month low of $33.61 and a 12 month high of $94.07. The stock has a 50-day moving average of $39.37 and a 200 day moving average of $48.44. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 26.88 and a beta of 0.31.
Safehold Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.177 per share. This is an increase from Safehold's previous quarterly dividend of $0.17. This represents a $0.71 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Wednesday, June 29th. Safehold's dividend payout ratio is currently 45.51%.
Analyst Ratings Changes
SAFE has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Safehold from $66.00 to $52.00 in a report on Wednesday, May 18th. Truist Financial dropped their target price on Safehold from $68.00 to $46.00 and set a "na" rating on the stock in a research report on Monday, May 16th. B. Riley dropped their price objective on Safehold from $110.00 to $80.00 in a report on Tuesday, April 26th. Morgan Stanley reduced their target price on shares of Safehold from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. Finally, TheStreet lowered shares of Safehold from a "b-" rating to a "c+" rating in a research note on Monday, April 18th.