Safehold Inc. (NYSE:SAFE) Receives $28.22 Average Price Target from Brokerages

Shares of Safehold Inc. (NYSE:SAFE) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $28.22.

A number of equities analysts have weighed in on SAFE shares. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. 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 report on Wednesday, October 30th. Truist Financial raised their target price on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Wedbush reaffirmed 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. Finally, The Goldman Sachs Group lowered their price target on Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

Safehold Price Performance

Shares of 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 company has a market capitalization of $1.51 billion, a P/E ratio of 12.47 and a beta of 1.68. The firm has a 50 day moving average of $24.54 and a 200 day moving average of $22.08. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last posted its earnings results 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 during 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. As a group, equities research analysts anticipate that Safehold will post 1.56 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Long Pond Capital LP raised its position in shares of Safehold by 14.9% during 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. raised its holdings in Safehold by 62.4% during the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after acquiring an additional 249,500 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Safehold in the first quarter valued at about $4,400,000. Vanguard Group Inc. boosted its stake in shares of Safehold by 1.8% in 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 during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Safehold during the first quarter worth about $1,979,000. Hedge funds and other 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.