Safehold (NYSE:SAFE) Given “Market Outperform” Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Safehold (NYSE:SAFE) in a research note published on Tuesday, Benzinga reports. The firm currently has a $35.00 price target on the stock.

SAFE has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on shares of Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wedbush increased their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Raymond James raised 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. Finally, Truist Financial upped their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Safehold presently has a consensus rating of “Moderate Buy” and an average price target of $28.56.

Safehold Stock Performance

Shares of Safehold stock opened at $22.48 on Tuesday. The firm has a market cap of $1.61 billion, a PE ratio of -49.96 and a beta of 1.66. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76. Safehold has a 52 week low of $15.35 and a 52 week high of $28.80. The business’s fifty day simple moving average is $25.16 and its 200-day simple moving average is $21.94.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The company had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. Safehold’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that Safehold will post 1.59 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is -155.56%.

Institutional Trading of Safehold

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Safehold by 65.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock valued at $175,000 after acquiring an additional 2,965 shares during the last quarter. Naviter Wealth LLC grew its stake in Safehold by 15.9% during the 1st quarter. Naviter Wealth LLC now owns 14,567 shares of the company’s stock worth $303,000 after buying an additional 2,000 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Safehold by 7.0% during the first quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock worth $298,000 after buying an additional 949 shares during the period. SG Americas Securities LLC purchased a new stake in Safehold in the first quarter valued at approximately $1,979,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Safehold by 4.7% in the first quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after acquiring an additional 1,156 shares during the period. 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.