Safehold Inc. (NYSE:SAFE - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $29.00 to $24.00. The Goldman Sachs Group currently has a buy rating on the stock. Safehold traded as low as $16.87 and last traded at $16.97, with a volume of 667060 shares trading hands. The stock had previously closed at $18.01.
SAFE has been the topic of a number of other research reports. Royal Bank of Canada raised their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. JMP Securities reissued a "market outperform" rating and issued a $35.00 price target on shares of Safehold in a report on Tuesday, October 29th. Raymond James upgraded Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 price objective for the company in a research note on Thursday, September 19th. Wedbush reaffirmed a "neutral" rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Finally, Mizuho boosted their price target on shares of Safehold from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Four investment 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, the company has a consensus rating of "Moderate Buy" and an average target price of $26.88.
Get Our Latest Stock Report on Safehold
Institutional Investors Weigh In On Safehold
Institutional investors have recently bought and sold shares of the stock. Long Pond Capital LP lifted its holdings in shares of Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company's stock valued at $51,361,000 after buying an additional 345,661 shares during the period. State Street Corp raised its position in Safehold by 2.0% in the third quarter. State Street Corp now owns 2,618,033 shares of the company's stock worth $69,131,000 after acquiring an additional 51,035 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Safehold by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company's stock valued at $32,734,000 after acquiring an additional 38,074 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Safehold by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company's stock valued at $18,039,000 after purchasing an additional 39,320 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company's stock worth $12,926,000 after purchasing an additional 20,483 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.
Safehold Price Performance
The company has a market cap of $1.18 billion, a price-to-earnings ratio of 9.71 and a beta of 1.67. The company's 50 day moving average price is $20.10 and its 200-day moving average price is $22.29. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83.
Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.
Safehold Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Monday, December 30th. Safehold's dividend payout ratio is 41.18%.
Safehold Company Profile
(
Get Free Report)
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.
Further Reading
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