Safehold (NYSE:SAFE) Price Target Raised to $15.00

Safehold (NYSE:SAFE) had its price objective boosted by Mizuho from $14.00 to $15.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on SAFE. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a research note on Wednesday, October 8th. Cantor Fitzgerald set a $17.00 price objective on shares of Safehold and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Safehold in a research report on Saturday, November 22nd. Citigroup restated a “market outperform” rating on shares of Safehold in a research report on Monday, December 1st. Finally, Royal Bank Of Canada decreased their price target on Safehold from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.33.

Safehold Price Performance

Safehold stock opened at $14.91 on Monday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 36.91 and a current ratio of 36.91. The firm has a market cap of $1.07 billion, a P/E ratio of 9.50, a P/E/G ratio of 2.12 and a beta of 1.84. The business’s fifty day moving average is $13.73 and its two-hundred day moving average is $14.81. Safehold has a 52 week low of $12.76 and a 52 week high of $19.53.

Safehold (NYSE:SAFE) last announced its earnings results on Wednesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $96.16 million during the quarter, compared to analyst estimates of $95.25 million. Safehold had a return on equity of 4.78% and a net margin of 29.67%.The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. Equities research analysts forecast that Safehold will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Tuesday, December 30th will be paid a $0.177 dividend. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.7%. Safehold’s dividend payout ratio is 44.59%.

Hedge Funds Weigh In On Safehold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its stake in shares of Safehold by 928.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,861 shares of the company’s stock valued at $29,000 after acquiring an additional 1,680 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Safehold by 115.0% in the second quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock valued at $52,000 after purchasing an additional 1,789 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Safehold in the third quarter worth $57,000. GAMMA Investing LLC raised its holdings in Safehold by 117.2% in the second quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock worth $61,000 after purchasing an additional 2,117 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Safehold by 179.1% during the third quarter. Versant Capital Management Inc now owns 4,225 shares of the company’s stock worth $65,000 after purchasing an additional 2,711 shares in 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.