Brokerages Set Safehold Inc. (NYSE:SAFE) Price Target at $23.13

Shares of Safehold Inc. (NYSE:SAFE) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.13.

SAFE has been the topic of a number of analyst reports. Truist Financial dropped their target price on Safehold from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, May 19th. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Safehold in a research report on Monday, March 31st. Royal Bank Of Canada dropped their price objective on Safehold from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Mizuho reduced their target price on Safehold from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, June 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th.

Safehold Trading Down 2.9%

Safehold stock opened at $15.14 on Thursday. The firm has a market cap of $1.09 billion, a PE ratio of 10.37, a P/E/G ratio of 1.53 and a beta of 1.80. Safehold has a 12 month low of $13.68 and a 12 month high of $28.80. The stock’s 50 day simple moving average is $15.32 and its two-hundred day simple moving average is $16.89. The company has a current ratio of 37.17, a quick ratio of 37.17 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $97.68 million during the quarter, compared to analysts’ expectations of $95.55 million. Safehold had a net margin of 28.20% and a return on equity of 4.76%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. Analysts anticipate that Safehold will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, June 30th. Safehold’s dividend payout ratio is currently 48.63%.

Institutional Investors Weigh In On Safehold

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAFE. Smartleaf Asset Management LLC raised its position in shares of Safehold by 268.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock valued at $26,000 after buying an additional 1,020 shares during the last quarter. US Bancorp DE grew its stake in Safehold by 136.4% during the 1st quarter. US Bancorp DE now owns 2,215 shares of the company’s stock valued at $41,000 after acquiring an additional 1,278 shares in the last quarter. Versant Capital Management Inc raised its holdings in Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock valued at $44,000 after acquiring an additional 1,010 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Safehold by 23.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock valued at $83,000 after acquiring an additional 849 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Safehold by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after purchasing an additional 1,173 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Company Profile

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.