Safehold Inc. (NYSE:SAFE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

Several equities research analysts have weighed in on the company. 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 research note on Thursday, September 19th. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research report on Tuesday, October 29th. Wedbush reiterated a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a research report on Monday, November 4th. Royal Bank of Canada boosted their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Mizuho raised their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st.

Hedge Funds Weigh In On Safehold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Long Pond Capital LP lifted its holdings in shares of Safehold by 14.9% during the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after purchasing an additional 345,661 shares during the period. State Street Corp raised its position in Safehold by 2.0% during the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock worth $69,131,000 after purchasing an additional 51,035 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Safehold by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after buying an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Safehold by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after buying an additional 39,320 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Safehold by 3.2% in the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after buying an additional 20,483 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Down 1.1 %

SAFE stock opened at $18.80 on Thursday. Safehold has a 52 week low of $17.91 and a 52 week high of $28.80. The business has a 50-day simple moving average of $21.15 and a 200 day simple moving average of $22.32. 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 has a market cap of $1.34 billion, a PE ratio of 11.06 and a beta of 1.66.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same period in the previous year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Safehold will post 1.56 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.177 per share. The ex-dividend date is Monday, December 30th. This represents a $0.71 annualized dividend and a yield of 3.77%. Safehold’s dividend payout ratio is presently 41.18%.

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.