Safehold Inc. (NYSE:SAFE) Receives $28.22 Consensus PT from Analysts

Shares of Safehold Inc. (NYSE:SAFE) have earned an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $28.22.

Several equities research analysts have recently issued reports on the stock. Mizuho raised their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $23.00 price objective (down from $25.00) on shares of Safehold in a research note on Monday, November 4th.

Safehold Trading Up 1.0 %

Shares of SAFE stock opened at $21.45 on Friday. Safehold has a 12 month low of $17.91 and a 12 month high of $28.80. The company has a market cap of $1.53 billion, a PE ratio of 12.62 and a beta of 1.66. 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 business’s 50 day moving average is $22.54 and its two-hundred day moving average is $22.23.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. Equities analysts predict that Safehold will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.30%. Safehold’s payout ratio is presently 41.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after purchasing an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares during the period. KBC Group NV lifted its position in Safehold by 79.3% in the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after acquiring an additional 1,275 shares in the last quarter. Vestcor Inc acquired a new position in Safehold in the 3rd quarter worth $110,000. Finally, FMR LLC raised its stake in shares of Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock valued at $153,000 after purchasing an additional 1,163 shares during the period. 70.38% of the stock is currently owned by institutional investors.

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.