Safehold (NYSE:SAFE) Reaches New 12-Month High – Here’s What Happened

Safehold Inc. (NYSE:SAFE)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $17.22 and last traded at $17.1740, with a volume of 159149 shares. The stock had previously closed at $16.61.

Wall Street Analysts Forecast Growth

SAFE has been the subject of a number of research reports. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a report on Tuesday, April 21st. Royal Bank Of Canada cut Safehold from a “market outperform” rating to a “sector perform” rating and decreased their price target for the stock from $18.00 to $16.00 in a research report on Friday, May 1st. Zacks Research downgraded Safehold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group cut their target price on Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.71.

Safehold Trading Up 3.4%

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 2.10 and a beta of 1.77. The firm’s 50-day moving average is $15.44 and its 200 day moving average is $15.04. The company has a current ratio of 35.58, a quick ratio of 35.59 and a debt-to-equity ratio of 1.91.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Safehold had a return on equity of 4.78% and a net margin of 28.58%.The business had revenue of $110.85 million during the quarter, compared to the consensus estimate of $96.51 million. On average, equities analysts predict that Safehold Inc. will post 1.64 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.177 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.1%. Safehold’s payout ratio is 44.65%.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently made changes to their positions in the business. Addison Capital Co boosted its holdings in shares of Safehold by 30.2% during the 4th quarter. Addison Capital Co now owns 179,465 shares of the company’s stock worth $2,457,000 after buying an additional 41,600 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Safehold by 24.7% in the third quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock valued at $21,859,000 after buying an additional 279,664 shares in the last quarter. Denali Advisors LLC bought a new position in Safehold in the 4th quarter valued at about $1,258,000. SG Americas Securities LLC boosted its position in shares of Safehold by 237.0% during the first quarter. SG Americas Securities LLC now owns 279,205 shares of the company’s stock valued at $3,778,000 after buying an additional 196,345 shares during the last quarter. Finally, Allstate Corp boosted its holdings in Safehold by 175.7% during the 4th quarter. Allstate Corp now owns 64,736 shares of the company’s stock worth $886,000 after acquiring an additional 41,252 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.