Safehold (NYSE:SAFE) Hits New 1-Year High – Here’s Why

Safehold Inc. (NYSE:SAFE)’s share price hit a new 52-week high on Thursday . The company traded as high as $17.22 and last traded at $17.1740, with a volume of 159149 shares. The stock had previously closed at $16.61.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a report on Friday, May 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a report on Tuesday, April 21st. Zacks Research lowered Safehold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada lowered shares of Safehold from a “market outperform” rating to a “sector perform” rating and lowered their target price for the stock from $18.00 to $16.00 in a report on Friday, May 1st. Finally, Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Safehold has a consensus rating of “Hold” and a consensus price target of $18.71.

Safehold Stock Performance

The stock’s 50 day moving average is $15.44 and its two-hundred day moving average is $15.04. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59. The firm has a market capitalization of $1.23 billion, a P/E ratio of 10.80, a P/E/G ratio of 2.10 and a beta of 1.77.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Safehold had a return on equity of 4.78% and a net margin of 28.58%.The company had revenue of $110.85 million during the quarter, compared to the consensus estimate of $96.51 million. As a group, equities analysts anticipate that Safehold Inc. will post 1.64 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Safehold’s dividend payout ratio (DPR) is currently 44.65%.

Hedge Funds Weigh In On Safehold

Several institutional investors have recently modified their holdings of SAFE. Addison Capital Co lifted its holdings in shares of Safehold by 30.2% in the fourth quarter. Addison Capital Co now owns 179,465 shares of the company’s stock valued at $2,457,000 after purchasing an additional 41,600 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Safehold by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock valued at $21,859,000 after buying an additional 279,664 shares during the last quarter. Denali Advisors LLC bought a new position in shares of Safehold in the 4th quarter valued at about $1,258,000. SG Americas Securities LLC raised its stake in Safehold by 237.0% in the first quarter. SG Americas Securities LLC now owns 279,205 shares of the company’s stock valued at $3,778,000 after buying an additional 196,345 shares during the period. Finally, Allstate Corp raised its stake in Safehold by 175.7% in the 4th quarter. Allstate Corp now owns 64,736 shares of the company’s stock valued at $886,000 after acquiring an additional 41,252 shares during the period. 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.