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

Safehold Inc. (NYSE:SAFE) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $28.22.

A number of brokerages have recently issued reports on SAFE. Mizuho upped their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Thursday, September 19th. JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note 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 report on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after acquiring an additional 471 shares during the period. Daiwa Securities Group Inc. raised its stake in Safehold by 5.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,893 shares of the company’s stock worth $391,000 after purchasing an additional 823 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after purchasing an additional 920 shares during the period. FMR LLC grew its position in shares of Safehold by 24.9% during the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after purchasing an additional 1,163 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after purchasing an additional 1,275 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Price Performance

NYSE SAFE opened at $18.80 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 11.06 and a beta of 1.66. The business has a 50 day simple moving average of $21.15 and a 200 day simple moving average of $22.32. Safehold has a 52-week low of $17.91 and a 52-week high of $28.80.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Analysts anticipate that Safehold will post 1.56 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced 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 3.77%. Safehold’s dividend payout ratio (DPR) is currently 41.18%.

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.