Safehold (NYSE:SAFE) Hits New 52-Week Low – Here’s What Happened

Safehold Inc. (NYSE:SAFE)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $15.55 and last traded at $16.34, with a volume of 538057 shares trading hands. The stock had previously closed at $15.89.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SAFE shares. Mizuho raised their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Thursday, September 19th. Royal Bank of Canada increased their price objective on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reiterated a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Finally, The Goldman Sachs Group decreased their price target on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Safehold currently has an average rating of “Moderate Buy” and a consensus target price of $26.88.

Safehold Trading Up 2.8 %

The company’s 50 day simple moving average is $19.91 and its 200 day simple moving average is $22.28. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 9.61 and a beta of 1.67.

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

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a $0.177 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.33%. Safehold’s dividend payout ratio is currently 41.18%.

Institutional Investors Weigh In On Safehold

Several institutional investors have recently modified their holdings of SAFE. Rhumbline Advisers lifted its holdings in Safehold by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 167,142 shares of the company’s stock worth $3,224,000 after buying an additional 6,656 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Safehold during the second quarter worth approximately $333,000. Renaissance Technologies LLC boosted its holdings in Safehold by 62.3% in the second quarter. Renaissance Technologies LLC now owns 43,119 shares of the company’s stock valued at $832,000 after purchasing an additional 16,557 shares in the last quarter. Hsbc Holdings PLC increased its stake in Safehold by 28.9% in the second quarter. Hsbc Holdings PLC now owns 41,400 shares of the company’s stock valued at $796,000 after purchasing an additional 9,277 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Safehold during the second quarter worth approximately $237,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

About Safehold

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.