Safehold’s (SAFE) “Market Perform” Rating Reiterated at Citizens Jmp

Citizens Jmp reissued their market perform rating on shares of Safehold (NYSE:SAFE) in a research report released on Wednesday morning, Marketbeat.com reports.

Several other equities analysts have also commented on the company. Raymond James Financial assumed coverage on Safehold in a report on Wednesday, August 19th. They issued a “market perform” rating on the stock. Truist Financial decreased their price target on Safehold from $17.00 to $13.00 and set a “hold” rating for the company in a report on Monday, September 28th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Safehold in a report on Tuesday, August 4th. UBS Group cut Safehold to a “market perform” rating in a research report on Wednesday. Finally, Royal Bank Of Canada dropped their price objective on Safehold from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.17.

Safehold Price Performance

Shares of SAFE opened at $11.36 on Wednesday. Safehold has a twelve month low of $11.26 and a twelve month high of $17.45. The firm’s fifty day simple moving average is $13.79 and its 200-day simple moving average is $14.89. The firm has a market capitalization of $804.16 million, a price-to-earnings ratio of 7.01, a PEG ratio of 3.44 and a beta of 1.78. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77.

Safehold (NYSE:SAFE) last released 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. The business had revenue of $114.65 million during the quarter, compared to analysts’ expectations of $110.78 million. Safehold had a net margin of 27.70% and a return on equity of 4.76%. Equities analysts forecast that Safehold will post 1.64 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.1770 per share. This represents a $0.71 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Wednesday, September 30th. Safehold’s payout ratio is currently 43.83%.

Insider Activity

In other news, Director Robin Josephs sold 9,500 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the completion of the transaction, the director owned 89,068 shares in the company, valued at approximately $1,296,830.08. This represents a 9.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Safehold

Several hedge funds and other institutional investors have recently bought and sold shares of SAFE. Legal & General Group Plc purchased a new position in shares of Safehold during the second quarter worth about $4,603,000. Bank of America Corp DE acquired a new stake in shares of Safehold during the second quarter worth about $5,153,000. BlackRock Inc. increased its position in shares of Safehold by 2.1% during the second quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock worth $156,036,000 after purchasing an additional 200,628 shares in the last quarter. Man Group plc acquired a new stake in shares of Safehold during the second quarter worth about $1,540,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Safehold in the 2nd quarter valued at about $1,726,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

About Safehold

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning ground leases. Through its ground-lease model, the company acquires and owns the land beneath commercial, residential, and other real estate assets while leasing that land to property owners under long-term agreements. This structure allows building owners to access the value of the land without selling the underlying property.

Safehold’s portfolio has included ground leases supporting multifamily, office, hotel, life sciences, industrial, and other commercial properties.