Safehold (NYSE:SAFE) Price Target Lowered to $25.00 at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its price target trimmed by The Goldman Sachs Group from $28.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on SAFE. Mizuho cut their target price on Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Wedbush reissued a “neutral” rating and issued a $20.00 target price on shares of Safehold in a research note on Monday, March 31st. Morgan Stanley cut their target price on Safehold from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 29th. Finally, JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Safehold currently has an average rating of “Moderate Buy” and an average price target of $25.38.

Safehold Price Performance

Shares of Safehold stock opened at $15.19 on Wednesday. The company has a market cap of $1.09 billion, a PE ratio of 10.26 and a beta of 1.86. The business has a 50 day moving average of $16.63 and a 200 day moving average of $18.09. Safehold has a 52 week low of $13.68 and a 52 week high of $28.80. The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $97.68 million for the quarter, compared to analysts’ expectations of $95.55 million. Safehold had a return on equity of 4.76% and a net margin of 28.92%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, equities research analysts forecast that Safehold will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, March 31st. Safehold’s dividend payout ratio is 47.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Safehold by 1.2% in the first quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company’s stock valued at $146,352,000 after acquiring an additional 93,236 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Safehold by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,305,041 shares of the company’s stock valued at $80,591,000 after acquiring an additional 38,272 shares during the period. American Century Companies Inc. lifted its holdings in Safehold by 11.1% in the fourth quarter. American Century Companies Inc. now owns 1,515,743 shares of the company’s stock valued at $28,011,000 after acquiring an additional 150,976 shares during the period. JPMorgan Chase & Co. lifted its holdings in Safehold by 58.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company’s stock valued at $19,424,000 after acquiring an additional 388,899 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Safehold by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock valued at $13,251,000 after acquiring an additional 29,348 shares during the period. 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.