Analysts Set Safehold Inc. (NYSE:SAFE) PT at $28.22

Shares of Safehold Inc. (NYSE:SAFE) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.22.

Several equities analysts have recently weighed in on SAFE shares. The Goldman Sachs Group cut their price objective on Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday, October 29th. Truist Financial increased their price objective on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada boosted their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Thursday, September 19th.

Safehold Trading Up 3.1 %

Shares of NYSE SAFE opened at $21.20 on Wednesday. Safehold has a twelve month low of $16.27 and a twelve month high of $28.80. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 12.47 and a beta of 1.68. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The company’s fifty day moving average is $24.54 and its 200-day moving average is $22.03.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Safehold will post 1.57 EPS for the current year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.34%. Safehold’s dividend payout ratio (DPR) is presently 41.76%.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after acquiring an additional 141,245 shares in the last quarter. Long Pond Capital LP raised its holdings in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares during the period. Sei Investments Co. lifted its stake in Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after purchasing an additional 20,483 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Safehold by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after purchasing an additional 34,404 shares during the period. Finally, Peregrine Capital Management LLC increased its position in Safehold by 10.0% during the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after buying an additional 35,046 shares during the last quarter. Institutional investors 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.