Shares of Safehold Inc. (NYSE:SAFE – Get Free Report) reached 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 Analysts Forecast Growth
Several research firms have commented on SAFE. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $30.00 to $19.00 in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Thursday, September 19th. Mizuho boosted their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price objective on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.00.
Get Our Latest Research Report on SAFE
Safehold Stock Up 1.9 %
Safehold (NYSE:SAFE – Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The business had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts forecast that Safehold Inc. will post 1.56 earnings per share for the current year.
Safehold Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, December 30th. Safehold’s dividend payout ratio is currently 41.18%.
Institutional Investors Weigh In On Safehold
A number of large investors have recently modified their holdings of the business. Long Pond Capital LP boosted its position in Safehold by 14.9% during the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after acquiring an additional 345,661 shares during the last quarter. State Street Corp increased its holdings in shares of Safehold by 2.0% in the third quarter. State Street Corp now owns 2,618,033 shares of the company’s stock valued at $69,131,000 after purchasing an additional 51,035 shares during the last quarter. Geode Capital Management LLC lifted its position in Safehold by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after buying an additional 38,074 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Safehold by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after buying an additional 39,320 shares in the last quarter. Finally, Sei Investments Co. increased 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 acquiring an additional 20,483 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.
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.
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