The Goldman Sachs Group Cuts Safehold (NYSE:SAFE) Price Target to $24.00

Safehold (NYSE:SAFE) had its price target cut by The Goldman Sachs Group from $29.00 to $24.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on SAFE. Mizuho increased their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Thursday, September 19th. Wedbush reissued a “neutral” rating and set a $23.00 price objective (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Tuesday, October 29th. Finally, Royal Bank of Canada boosted their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.88.

Safehold Stock Down 2.7 %

Shares of NYSE:SAFE opened at $16.50 on Tuesday. Safehold has a fifty-two week low of $16.30 and a fifty-two week high of $28.80. 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 firm’s 50-day simple moving average is $20.01 and its 200-day simple moving average is $22.25. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 9.71 and a beta of 1.67.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, equities research analysts predict that Safehold will post 1.56 earnings per share for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.29%. Safehold’s dividend payout ratio (DPR) is 41.18%.

Institutional Investors Weigh In On Safehold

A number of institutional investors and hedge funds have recently bought and sold shares of SAFE. Angeles Wealth Management LLC acquired a new position in shares of Safehold in the second quarter worth $585,000. Victory Capital Management Inc. acquired a new position in Safehold in the 3rd quarter valued at about $639,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 purchasing an additional 39,320 shares in the last quarter. Barclays PLC boosted its stake in shares of Safehold by 317.9% during the 3rd quarter. Barclays PLC now owns 85,932 shares of the company’s stock worth $2,254,000 after purchasing an additional 65,370 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Safehold by 3.1% during the third 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 in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.