Intel stock extends gains after report of possible U.S. government stake
In a turbulent market environment, Safety Income and Growth Inc. (NYSE: NYSE:SAFE) stock has reached a 52-week low, dipping to $15.54. According to InvestingPro data, the company maintains strong fundamentals with a healthy 4.27% dividend yield and an attractive P/E ratio of 10.55. The company's robust current ratio of 40.02 indicates exceptional liquidity strength. This price level reflects a significant downturn for the company, which specializes in acquiring, owning, managing, and capitalizing on ground leases. Despite the challenging environment, the company has maintained positive revenue growth of 7.48% and receives a "GOOD" overall Financial Health score from InvestingPro, which offers 7 additional key insights about SAFE's investment potential. Over the past year, SAFE has seen its stock value decrease by 25.7%, a substantial decline that underscores the broader economic pressures facing real estate investment trusts (REITs) and the challenges of a shifting investment landscape. Investors are closely monitoring the company's performance as it navigates through these headwinds, looking for signs of stabilization or a potential rebound.
In other recent news, Safehold Inc. has amended its credit and management agreements with Star Holdings. The amendments extend the maturity of a term loan to March 31, 2028, and adjust management fees and termination payments. Star Holdings has authorized a share repurchase program, allowing for the buyback of up to $10 million of its common shares. The term loan, as of the amendment date, has an outstanding principal of $115 million. Additionally, Safehold Inc. declared a quarterly dividend of $0.177 per common share for the first quarter of 2025, payable on April 15, 2025.
In governance news, Safehold Inc. announced that board member Jesse Hom will not seek re-election, leading to a reduction in the board size from six to five directors. Analyst firm JMP Securities has adjusted its outlook on Safehold, lowering the price target from $35.00 to $32.00, citing interest rate volatility and uncertainties surrounding the company's Capitalization Rate Enhancement Terms (CARET) program. Despite the lowered price target, JMP Securities maintained a Market Outperform rating on Safehold shares. These developments are part of the ongoing adjustments and strategies being implemented by Safehold Inc. and Star Holdings.
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