Safehold (NYSE:SAFE) Sets New 1-Year Low – Time to Sell?

Safehold Inc. (NYSE:SAFE) shares reached a new 52-week low during trading on Tuesday. The company traded as low as $10.94 and last traded at $11.0950, with a volume of 724,180 shares changing hands. The stock had previously closed at $11.34.

Analyst Ratings Changes

SAFE has been the topic of several research analyst reports. Mizuho cut their target price on Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Raymond James Financial began coverage on Safehold in a report on Wednesday, August 19th. They issued a “market perform” rating for the company. Royal Bank Of Canada dropped their price target on shares of Safehold from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Safehold in a report on Wednesday, October 14th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.50.

Safehold Trading Down 5.3%

The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $753.88 million, a PE ratio of 6.57, a PEG ratio of 3.35 and a beta of 1.78. The business’s 50-day moving average is $13.53 and its two-hundred day moving average is $14.84.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Safehold had a return on equity of 4.76% and a net margin of 27.70%. The company had revenue of $114.65 million for the quarter, compared to analyst estimates of $110.78 million. On average, analysts anticipate that Safehold Inc. will post 1.64 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.1770 dividend. This represents a $0.71 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Safehold’s payout ratio is presently 43.83%.

Insider Activity

In related news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 89,068 shares in the company, valued at $1,296,830.08. This trade represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Safehold

Large investors have recently modified their holdings of the company. Axxcess Wealth Management LLC purchased a new stake in Safehold in the 3rd quarter valued at $199,000. CWA Asset Management Group LLC boosted its stake in Safehold by 38.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 125,437 shares of the company’s stock worth $1,476,000 after purchasing an additional 34,962 shares during the period. CoreCap Advisors LLC grew its position in Safehold by 20.7% during the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock worth $89,000 after purchasing an additional 1,290 shares during the last quarter. Versant Capital Management Inc grew its position in Safehold by 109.4% during the 3rd quarter. Versant Capital Management Inc now owns 5,635 shares of the company’s stock worth $66,000 after purchasing an additional 2,944 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in Safehold during the 2nd quarter worth $1,077,000. 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 that owns and manages ground leases for commercial, multifamily, and other income-producing properties. Under a ground lease, Safehold owns the land beneath a building while the property owner leases the land for a long term and retains ownership of the improvements on it.

The company’s business model is designed to provide property owners with access to capital while allowing them to maintain control of their buildings. Safehold’s ground lease investments are generally structured as long-duration leases that can support the development, acquisition, refinancing, or recapitalization of real estate assets.